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American Society for Information Science & Technology (ASIST) – Southern Ohio Chapter. “Fundamentals of Competitive Intelligence” January 25, 2001 Toni Wilson, President, MarketSmart Research. Purpose and value of competitive intelligence (CI) The competitive intelligence process

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american society for information science technology asist southern ohio chapter

American Society for Information Science & Technology (ASIST) – Southern Ohio Chapter

“Fundamentals of Competitive Intelligence”

January 25, 2001

Toni Wilson, President, MarketSmart Research

agenda
Purpose and value of competitive intelligence (CI)

The competitive intelligence process

The collection phase

The analysis phase

Adding value through additional, ongoing activities

Agenda
why competitive intelligence
New competitors enter “the game.”

Competitors invent new moves or move out of turn.

The rules of the game change.

Source: David Harkleroad

The Futures Group

Why Competitive Intelligence
what competitive intelligence is and is not
Competitive intelligence IS any information that indicates whether or not your company is currently or will remain competitive.

Competitive intelligence IS NOT about competitors, but about keeping your company competitive.

What Competitive Intelligence IS and IS NOT
what competitive intelligence is and is not1
Competitive intelligence IS NOT the gathering and distribution of data. The value is in the analysis, or the use of data to create an understanding and market vision of your industry, your competitors, and your company.What Competitive Intelligence IS and IS NOT
the role of the ci function
To protect a company and its management from “blind spots” – the bane of successful companies.

To challenge and validate/invalidate company assumptions and strategies on a regular basis.

Source: Ben Gilad

Business Blindspots

The role of the CI function
the intelligence edge
Quality competitive intelligence:

Is actionable: “Intelligence—not information—helps a manager to respond with the right market tactic or long-term decision. [Stating information] becomes decision-producing intelligence when the statement has implications.”

The New Competitor Intelligence

Leonard M. Fuld (1995)

The Intelligence Edge
the intelligence edge1
Quality competitive intelligence:

Adds value: “Competitive intelligence was worth up to $50 million per year [in increased revenue and avoided expenditures] to our company.”

Robert Flynn, Chief Executive Officer

Nutrasweet (retired)

The Intelligence Edge
the intelligence edge2
Quality competitive intelligence:

Is necessary: “Companies that don’t use competitive intelligence are running blind.”

Anne Selgas

Director, Corporate Competitive Intelligence

Eastman Kodak

The Intelligence Edge
the competitive intelligence process

Recommendations

Company

Overlay

Predictions/Projections

Analysis

Fact Gathering

The Competitive Intelligence Process
the typical ci request
“Tell me about XYZ Company.”

Wrong Response: Okay. (And then proceed to collect and share every potentially relevant detail about the competitor.)

Correct Response: What is the business decision or issue? (And then tailor your research accordingly.)

The Typical CI Request
the pieces that may fit
Company history and background

Management (key executives and board members)

Organization structure

Facilities/locations

Financial performance and capabilities

Vision/mission and strategies

The Pieces That May Fit
the pieces that may fit1
Alliances, acquisitions and divestitures

Sales and marketing strategies and activities

Customers/markets served (and market share)

Products and product lines (including product pricing)

Technology

The Pieces That May Fit
slide14

Fact Gathering

The Competitive Intelligence Process

Secondary Sources

Advertisements

Annual reports*

Business credit reports*

Company profiles*

Corporate and executive affiliations*

Foreign periodicals*

Help-wanted advertisements*

Interview transcripts*

Legislative information*

Local and regional newspapers*

*Available online

(commercial services and/or Internet)

slide15

Fact Gathering

The Competitive Intelligence Process

Secondary Sources (cont.)

Marketing literature*

National newspapers*

Patents and trademarks*

Press releases*

Public records*

SEC filings*

Speech transcripts

Trade publications*

Who’s Who and other biographical data*

*Available online

(commercial services and/or Internet)

a word about web research
Great place to start

Information about companies of any size

Tables, charts, graphs, etc.

Several sources of quality information for free/cheap

With a number of shortcomings

Marketing tool for companies, offering subjective information

Small percentage of information on web is indexed

Difficult to search for common names, DBAs, subsidiaries, etc.

Questionable accuracy/reliability (anyone can be a web publisher)

Validate and supplement with additional sources.

A Word About Web Research
secondary sources past and present
Secondary Sources (past and present)
  • Advertisements
  • Annual reports
  • Business credit reports
  • Caselaw
  • Company profiles
  • Corporate and executive affiliations
  • Foreign periodicals
  • Local and regional newspapers
  • Marketing literature
  • National newspapers
  • Patents and trademarks
  • Press releases
  • SEC filings
  • Speech transcripts
  • Trade publications
  • Who’s Who and other biographical information
secondary sources foreknowledge
Secondary Sources(foreknowledge)
  • Help-wanted advertisements
  • Legislative information
  • Patents and trademarks
  • SEC filings
  • Speech and interview transcripts
secondary sources public records filings
Secondary Sources Public Records/Filings

Asset information (motor vehicles, boats, airplanes)

Bankruptcy filings Judgments and liens

Civil court dockets Professional licenses

Corporate filings (incorporation records) Real property records

DBAs/Fictitious names Stock ownership

Executive affiliations UCC filings

slide20

Fact Gathering

The Competitive Intelligence Process

  • Primary Sources
  • Industry observers
  • Industry participants
  • Your sales force
  • Trade shows
  • Competitors in common
  • Former employees
primary sources human sources
Primary Sources (human sources)
  • Industry observers
    • Journalists
    • Industry analysts
    • Stock analysts
  • Industry participants
    • Suppliers
    • Customers
    • Consultants
primary sources human sources1
Primary Sources (human sources)
  • Your sales force
    • Incent them appropriately
  • Trade shows
    • “Quarterbacking” – go with a plan
primary sources human sources2
Primary Sources (human sources)
  • Competitors in common
    • Within or outside of your industry
  • Former employees
    • Respect their non-disclosure agreements
slide24

Analysis

The Competitive Intelligence Process

analysis assess the current competitive situation
Compare competitor strengths and weaknesses

Identify potential opportunities and threats

Leads to an understanding of the future competitive situation

Analysis – Assess the currentcompetitive situation
analysis assessment tools
Company profile

Brings all of the pieces of information together

Supports development of comprehensive SWOT analysis

Leadership profile

Analyze the background, capabilities and personality of competitor’s leader/most influential decision-maker

Head-to-head product comparisons

Analysis – Assessment Tools
analysis assessment tools1
Role playing

Creates stronger understanding of competitor’s perspective

Scenario analysis

If A happens, then B or C could happen. If D or E happens, then F could happen, etc.

Benchmarking

Measure the specific characteristics of several competitors against each other

Analysis – Assessment Tools
slide28
Forecast the future competitive situation.

What are the competitors likely to do the same or differently in the future?

What is likely to cause any changes?

Challenge the underlying assumptions.

Predictions/

Projections

The Competitive Intelligence Process

slide29
What is your company doing that is the same or different than the competitor(s)?

Identify your company’s weaknesses and vulnerabilities.

Company

Overlay

The Competitive Intelligence Process

slide30
What should your company be doing now and in the future in order to outthink and outperform the competition?

Assess your company’s strategies for effectiveness and viability.

Recommendations

The Competitive Intelligence Process

slide31

Recommendations

Company

Overlay

Predictions/Projections

Analysis

Fact Gathering

The Competitive Intelligence Process

  • START OVER
  • -- KEEP CURRENT
  • Monitor competitor
  • responses to your
  • company’s actions and
  • strategies.
slide32

CI Resources

  • Society of Competitive Intelligence Professionals (SCIP)
    • www.scip.org
    • Chapter meetings (Southwest Ohio chapter)
    • Educational workshops
    • Publications
    • Networking
  • Recommended reading
    • Confidential – John Nolan
    • Business Blindspots – Ben Gilad
    • The New Competitor Intelligence – Leonard Fuld
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