Competitor Intelligence Report

1. Competitor Intelligence Report Competition has become fierce as markets have become more saturated, barriers to entry in newer markets have become increasingly effortless, and venture capital is readily available. The role of a Competitor Intelligence Report is to make a company understand what its rivals are doing and what decisions they are making. It involves seeing through the rival’s lens and tracking how competitors develop, market, and sell products or services. Most companies gather and analyze information from within their organization to decide upon marketing strategies. A competitor Intelligence report closely monitors all the actions of a competitor and then makes recommendations accordingly. In a competitor intelligence realm, an organization can get a clear picture of their business and learn how to handle current market conditions. A competitor intelligence report is a highly detailed form of analytic study. Market research firms then align the finding with the company’s present and future business model. It is essential to ask the correct set of questions to answer precisely what you want to know. Using multiple sources of information during market research like interviews, secondary research, or product testing are all efficient ways to gather information to include in a competitor intelligence report. Gathering data is just half the battle. The collected data should be collated in the right way to make it practicable. Following are the parameters a good competitor intelligence report includes: 1. List of Competitors - A CI report must include direct competitors who are active in your target market as well as top companies in a similar industry or with a similar business model. Including the right mix in your report ensures that you get a blend of strategies and tactics to apply in your space. 2. Insights - Compilation should be based on what one wants to know or the areas that are to be explored. Typically it contains insights into your competitors and a comparison of product features and current or projected market share。 3. SWOT Analysis - To outdo your rivals, direct or indirect, you need to be ready for anything. A SWOT analysis helps you invest in good opportunities and reject bad ones and helps with strategizing around your strengths. In addition to the above parameters, it helps to include overall revenue, win rate that reflects the effects of sales and marketing teams, customer happiness/retention, and qualitative feedback (internal and external) The insights gained from a competitor intelligence analysis help you predict the market. It also helps you with complete knowledge of the external business environment and takes advantage of the competitor’s weaknesses. Regular usage and updating of competitor analysis help with counterintelligence.

2. The more knowledge and information a company has about its external market and competitors, the better the decisions are likely to be. As competitive intelligence strategy matures and grows, a company will gain confidence in the potential to use the information wisely to make effective decisions. Some popular companies that make Competitive intelligence reports are Strategy Here (USA), ASE Market Intelligence (UK), Cascade Insights (USA), SIS International Research (USA), Aware (UK), Evalueserve (Switzerland), Competia (Canada), Die Denkfabrik (Germany), Fletcher/CSI (USA), Fuld + Company (USA), Aqute Intelligence (USA) and many more.