Many companies mistakenly believe a market research report is what they need to understand how their product and service is both defined and new opportunities are found. CVG Strategy believes that although market research reports can be helpful for very large companies who are a major player in a particular niche, for most companies it is overkill and almost useless in application to a small- to medium-sized organization. A Competitive Intelligence Report is a Market Study that fits a specific company and its profile.
Intelligence is information that has been analyzed for decision making. It is important to understand the difference between information and intelligence. Information is the starting point; it is readily available numbers, statistics, bits of data about people, companies, products, and strategies. As a matter of fact, information overload is one of the leading problems of today’s executive and the top reason for needing a competitive intelligence expert. Information becomes intelligence when is it distilled and analyzed. Combining this idea with those of competition or competitors leads to the concept of gathering and analyzing information about competitors for use in making management decisions. Competitive intelligence provides a link between information and business strategies and decisions. It is the process of turning vast quantities of information into action.
Competitive intelligence offers approximations and best views of the market and the competition. It is not a peek at your rival’s financial books but rather a logical profile of products and services that can readily be compared to yours. Competitive intelligence can help managers discover new markets or businesses, beat the competition to market, foresee competitor’s actions, determine which companies to acquire, learn about new products and technologies that will affect the industry, and forecast political or legislative changes that will affect the company.
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 do not use a textbook or academic method, but rather a logical and real-life process 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