The action of collecting, delineating, learning and distributing intelligence related to competitors, products, customers and any other side of the business environment required for the managerial and strategic decision-making process is known as Competitive intelligence. CI also includes improving the competitiveness of the organization relative to its complete environment and stakeholders. Let’s discuss the three key approaches to Competitive intelligence.
Three Key Approaches To Competitive Intelligence
1. Tactical intelligence
Tactical intelligence is usually carried out for a smaller and operational scale. It does not focus much on being productive. Some examples of tactical issues include Competitors’ plans for modifying how they distinguish their products, policies, and terms of sales from yours. Middle-level sales and marketing managers who wish to know how to be a winner in the crowd are the key users of this approach.
2, Strategic Intelligence
This approach is suitable when businesses need to gain an understanding of the competitor’s current strategies, future goals, and capabilities. Intelligence related to a business partner, customers, and suppliers are always of some deliberate value; and strategic intelligence gives you just that.
3. Counter Intelligence
Counter intelligence encompasses protecting company secrets. The concept is easy to understand, just like you want to know your competitors, they would want to know you. Normally, this area of efforts includes information technology, security and firing and hiring strategies.
Competitive intelligence is where competition is understood and judged. It is immensely important to understand and learn what’s happening in the world outside your business, as it helps the business to be as competitive as possible. Competitive Intelligence empowers you to anticipate and face challenges head on.
iSN Global Solutions Sales Support Services include Online Research, we can analyze how a competition is in the market, give our expert views as to how the competition can be minimized or eliminated and at the end help you generate better profits.