Competition Intelligence
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Competition Intelligence
Competition intelligence is not knowing the answers to obscure questions to win the local pub quiz or a years supply of shampoo, I just wanted to get that straight from the beginning. Although you do need a certain amount of intelligence (and a good memory) to be successful in competitions, competition intelligence is all about being successful in your business life, not your social life.
Competition intelligence is all about gathering as much useful information, and therefore intelligence about the competition as you can. It’s about things like -
- their customer base
- their best selling products/services
- new products/services about to be released
- their latest advertising campaigns
- pricing and suppliers
In business, the more you can find out about how the competition is doing, the more chance you have of beating them to the finish line and remaining successful yourselves.
Competition Intelligence can be achieved in many different ways, the information is very often right their under your very nose, if you only know how to utilize it.
Websites can give out a whole host of information, – web stat counters, numbers of products sold, numbers of products available, new products in the pipeline – all of this can be extremely useful information to the competition.
