Competitive Intelligence – Specialized Market Analysis
Competitive Intelligence – Market Studies
A Competitive Intelligence Report is a Market Study that fits a specific company and its profile. While the vast majority of large corporations have formal competitive intelligence programs small to medium sized companies usually do not have the bandwidth to support this important business function.
What is Competitive Intelligence?
Raw data on its own, cannot provide valid information for management decisions that will directly effect the future of an enterprise. Information and data must be processed and analyzed to provide intelligence that can be utilized for actionable and strategic decision making.
Competitive Intelligence is a collection of techniques and methods that are employed in the framework of legal and ethical standards to characterize a competitor’s capabilities and vulnerabilities through the analysis of open sources of data. This can supply a valuable basis to develop new markets, discern the appropriate application of new technologies, and forecast industry specific legislative and regulatory opportunities and constraints.
The Importance of an Informed Business Strategy
Implementing an informed business strategy is essential for any enterprise, regardless that business’s product or service. Today’s market place is being revolutionized by disruptive technologies that can render thriving companies irrelevant. Therefore a clear understanding of the competitive landscape is critical for making the informed decisions that can provide a competitive advantage.
Beyond staying ahead of the competition, market intelligence can inform strategic product launches into new market sectors creating long term growth of a business. This can be accomplished by analysis of consumer patterns that identify new product requirements.
The Business Intelligence Process
An initial requirement for conducting research is to establish specific objectives. This would include questions that are most problematic and what the perceived obstacles to growth are. This provides a scope and direction for gathering information.
Once that data has been gathered it can be distilled for trend analysis, competitor analysis, or an analysis of strengths and weaknesses within a company. It is important to note that business trends are dynamic. Analysis should therefore provide estimations of direction and scale of a business variable.
CVG Strategy Business Expertise
CVG Strategy has the expertise to provide assistance in this area as a peer. Our experts have managed manufacturing and service companies and have real experience to draw upon in our approach to helping you. We employ a logical and real-life process based on your specific objectives and requirements. The product of this process is comprehensive distillation of information that will make sense to you, the business manager.
Competitive Intelligence Report Outline
- Executive Summary
- Company Market Profile
- Competitive Market by Product
- Companies – Competitors
- GAP Analysis of Company vs. Competitors
- Future – Estimate by Segment
- New Markets for Company
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