Benefits of competitive intelligence
I while back I wrote an article on the benefits of competitive intelligence at MarkIntell.com.
"Market Intelligence, if brought to action, will reduce overhead and focus your marketing and sales efforts on front line issues. Providing a constant mirror of your external impact and market opportunities promotes and strengthens priorities that will lead to action in the field...read the entire article"
The article focuses on these major benefits:
- Identification of new opportunities - e.g. identify new trends before our markets and competitors
- Early warning of competitor moves - enable counter measures
- Minimizing investment risks - detect threats and trends early on
- Better customer interaction - inherit intensified customer market view
- Better market selection & positioning - understand where your offer fits and discover untapped or under-served potential
- Quicker, more efficient and cost-effective information - avoid duplication of report acquisitions and expensive consultant work
Please feel free to comment and add your view, looking forward to a discussion about your applied benefits.