What is the competitive intelligence model?

The focus is on the external business environment. There is a process involved in gathering information, converting it into intelligence and then using it in decision making. Some CI professionals erroneously emphasise that if the intelligence gathered is not usable or actionable, it is not intelligence.

What is the cardinal rule of competitive intelligence?

The cardinal rule — wherever money is exchanged, so is information — explains a great deal about how much information is truly available in the marketplace. This rule applies to finding information on customers, suppliers, and distributors, — not just competitors.

What are the three sources of competitive intelligence?

A typical competitive intelligence study includes information and analysis from various disparate sources, including the news media, customer and competitor interviews, industry experts, trade shows and conferences, government records, and public filings.

What are the components of competitive intelligence?

any given time. CI comprises many aspects of which the following are utilized most often: competitor intelligence, technical intelligence, market intelligence, financial intelligence, marketing intelligence, product intelligence and customer intelligence.

What is the main function of competitive intelligence?

Competitive intelligence (CI) is the process of collecting, processing and analyzing information from and about the internal and external or competitive environment in order to help decision-makers in decision-making and to provide a competitive advantage to the enterprise.

What is competition Matrix?

A competitive matrix is an industry analysis tool that compares the characteristics of multiple brands within your market segment to identify their differences, strengths, and weaknesses. This information helps you uncover your own competitive advantage and identify opportunities to grow your business.

Who uses competitive intelligence?

In the meantime, we can identify five specific groups within your organization who can use competitive intelligence to their advantage: Sales reps. Product managers. Marketers.

Is competitive intelligence ethical?

Since competitive intelligence relies on public information and market research, you can be reassured that the process is ethical and a wise decision.