Before Competitive Intelligence its best to Take a look at yourself

Before Competitive Intelligence its best to Take a look at yourself

Situation

  • What does your organisation do? Not such an obvious question.
  • What products or services do you offer? What do you not provide and why?
  • Which industry do you compete in?
  • Do you compete in a niche, on price or quality?
  • Have you written down your strategic objectives? Ok, do you have any?
  • Do these objectives and goals actually reflect what happens in your organisation?
  • What customers do you target?
  • What do you consider your competitive advantage?
  • Why do customers use your service?

Drivers

  • Where is your pain?
  • What threats are you facing regarding competitors, industry changes and markets?
  • What do you want to achieve?
  • And what do you know? What don’t you know?
  • Determine the strengths and weaknesses of competitors or a business partner
  • Take advantage of market opportunity
  • What a new competitor on the block means to you
  • How a new product/service your rival has introduced is going to affect you

Players

  • Who do you need to be involved in the project in your own organisation — Sales, R&D, Engineering, HR etc
  • Which industry must you assess? (Not always the obvious answer)
  • And which markets do you want to look at?
  • Which key players in your industry are you interested in?
  • Are any government regulations or actions going to affect your business?

Outcomes

  • Do you want a rapid answer to specific questions to decide on the market or rival?
  • Do you want a long term ongoing approach, say from 3 months to 3 years ahead?
  • How will you know you are successful?
  • Do you have sufficient need to develop a set of “Key Intelligence Topics” for your organisation to focus on?

Before Competitive Intelligence its best to Take a look at yourself

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Octopus Competitive Intelligence consulting agency

We Provide More Certainty & Competitive Advantage With Competitive Intelligence & Competitive Strategy