Competitor Analysis - a Brief Guide the Basic Principles of Competitive Intelligence
Competitor Analysis - A Brief Guide
The Basic Principles of Competitive Intelligence
This guide to competitor analysis is by its nature, elementary and is a summary and precursor to a more detailed article published in Business Information Review in June 2002. (This can be accessed from our CI Articles request form). There are also many books on the subject - covering everything from finding information on competitors, to analysing the information and finally using it in business strategy. We list a number of titles on our recommended books pages - (for example the classic texts on strategy by Michael Porter - Competitive Strategy and Competitive Advantage). We can also help you in most aspects of CI offering research and analysis services, as well as training and CI workshops so that you can learn how to do CI effectively yourself. However, enough of the preamble....
Introduction
No business is an island. For success, the business will need to deal with customers, suppliers, employees, and others. In almost all cases there will also be other organizations offering similar products to similar customers. These other organizations are competitors. And their objective is the same - to grow, make money and succeed. Effectively, the businesses are at war - fighting to gain the same resource and territory: the customer. And like in war, it is necessary to understand the enemy: * how he thinks; * what his strengths are; * what his weaknesses are; * where he is vulnerable; * where he can be attacked; * where the risk of attack is too great.... and so on. And like in war, the competitor will have secrets that can be the difference between profit and loss, expansion or bankruptcy for the business. Identifying these secrets is thus crucial for business survival. But all this is not new...
Sun Tzu and the Art of War
Around the year 500 BC, the great Chinese military strategist, Sun Tzu wrote a treatise on the Art of War. From a 21st
The Basic Principles of Competitive Intelligence
This guide to competitor analysis is by its nature, elementary and is a summary and precursor to a more detailed article published in Business Information Review in June 2002. (This can be accessed from our CI Articles request form). There are also many books on the subject - covering everything from finding information on competitors, to analysing the information and finally using it in business strategy. We list a number of titles on our recommended books pages - (for example the classic texts on strategy by Michael Porter - Competitive Strategy and Competitive Advantage). We can also help you in most aspects of CI offering research and analysis services, as well as training and CI workshops so that you can learn how to do CI effectively yourself. However, enough of the preamble....
Introduction
No business is an island. For success, the business will need to deal with customers, suppliers, employees, and others. In almost all cases there will also be other organizations offering similar products to similar customers. These other organizations are competitors. And their objective is the same - to grow, make money and succeed. Effectively, the businesses are at war - fighting to gain the same resource and territory: the customer. And like in war, it is necessary to understand the enemy: * how he thinks; * what his strengths are; * what his weaknesses are; * where he is vulnerable; * where he can be attacked; * where the risk of attack is too great.... and so on. And like in war, the competitor will have secrets that can be the difference between profit and loss, expansion or bankruptcy for the business. Identifying these secrets is thus crucial for business survival. But all this is not new...
Sun Tzu and the Art of War
Around the year 500 BC, the great Chinese military strategist, Sun Tzu wrote a treatise on the Art of War. From a 21st