Outmanoeuvring the competition requires knowledge of their capabilities, strategies and intentions. This knowledge is intelligence and is meant to be forward-looking to better support business plans and decision-making.
The process of gathering and analyzing information and disseminating intelligence to those who need it in a timely and appropriate way is the task of everyone in the organization. External intelligence support reinforces your intelligence process on an ad hoc or ongoing basis and can upgrade your organization's existing capability.
Competitor intelligence augmentation is typically needed:
• When only skilled primary research can yield answers
• During periods of pressing information requirements
• When an outsourced intelligence function is the preferred business solution
• When developing a new or improving an existing intelligence capability
It is nice to have valid competition. It pushes you to do better.
Once you know all about your competitors, you're ready for competitive position planning.
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