How do I create a competitive intelligence report?

Here are seven easy steps to creating a competitor analysis framework.

1. Identify Competitors. Know who are your competitors.
2. Know the Objectives.
3. Earmark the Evaluation areas.
4. Know the Stakeholders.
5. Choose Data Sources.
6. Competitive Intelligence Templates.
7. Publishing Research.

What are the 7 elements of the competitor intelligence system?

The Competitive Intelligence Division encompasses all aspects of competitive intelligence including: (1) planning, (2) identifying decision makers’s intelligence needs, (3) collecting and analyzing information, (4) disseminating intelligence products and services, (5) evaluating intelligence activities, (6) promoting …

What is a competitive intelligence system?

Competitive intelligence systems help decision makers identify opportunities to improve the company or organization’s strategic position among competitors, customers, and suppliers. Such systems rely upon heavily qualitative information and the intuition of decision makers.

How do you maintain competitive intelligence?

Crayon Competitive Intelligence blog

1. Identify Your Competitors. The first step in the competitive intelligence process is to identify your competitors.
2. Identify Areas of Interest to Track in Your Competitors’ Digital Footprints.
3. Gather Your Intel.
4. Create a Competitive Analysis.
5. Communicate Intel.
6. Turn Data into Results.

How do you prepare a competitive matrix?

How to Get Information to Create a Competitive Matrix

1. Benchmark your site against your top competitors.
2. Identify new competitors you didn’t know about.
3. Know the sites and topics your target audience cares about most.
4. Compare keywords and backlinks that drive traffic to you and your competitors.

What is competitive intelligence example?

10 essential examples of competitive intelligence

• Positioning/messaging changes.
• Pricing/packaging changes.
• Leadership changes.
• 4. News coverage.
• Website A/B tests.
• Customer reviews.
• Employee reviews.
• Job postings.

How do you gather intelligence?

Our principal techniques for gathering intelligence are:

1. Covert Human Intelligence Sources or “agents”.
2. Directed surveillance, such as following and/or observing targets;
3. Interception of communications, such as monitoring emails or phone calls;

What are the ethics of gathering competitive intelligence?

Gathering information by not disclosing who you are to a competitor or by lying would be considered unethical, but it’s not illegal. The best competitive intelligence professionals don’t conduct their practice through illegal or unethical means.

What is the goal of competitive intelligence?

For any group, the goal of competitive intelligence is to help make better-informed decisions and enhance organizational performance by discovering risks and opportunities before they become readily apparent.

What is the first step in the process of identifying competitive advantages?

A critical first step is to conduct a competitive analysis to learn the strengths and weaknesses of rival firms so you can create and communicate a competitive advantage to your target customers.

What is competitive market intelligence?

Competitive intelligence is an acute type of market research conducted by a business. With competitive intelligence, businesses use the same type of tactics utilized when conducting market research; however, the focus is to answer more target questions rather than review broad market trends.

What is a competitive intelligence firm?

Competitive Intelligence. This typically takes the form of a briefing on the company, its industry, the law firm’s past and current relationships with that company, key decision-makers, common relationships, current staffing by other service providers and any specific insight into current legal needs by that company.

What is market intelligence system?

Market Intelligence System. Definition: A Market Intelligence system focuses on the systematic collection and processing of information from all the relevant sources to ascertain the changing trends in the marketing environment.

What is a business intelligence strategy?

Business Intelligence Strategy Definition. Business Intelligence (BI) Strategy, also called descriptive analytics, utilizes software and resources for transforming organizational data into actionable intelligence, aiding the organization in making strategic business decisions.