4 areas of your company that can benefit most from Competitive Intelligence
- Competitive Intelligence
CI is an activity that is beneficial to all areas of any business or organization, but there are 4 departments that can get more performance than others: Commercial-Sales; Marketing-Product; R&D-Innovation; and StrategicManagement- Corporate Development. These are the benefits that can be obtained in each of these areas:
- Identify market leaders and your position against them.
- Analyze a competitor’s competitive position, contacts and delegations in a given market.
- Anticipate changes in your market and know tariff barriers in your target markets.
- Discover the countries and sectors with the highest growth rate in your business area.
- Monitor tenders and contract awards by public bodies.
- Monitor partnerships that occur in your target markets and sectors.
- Identify industry trends where you develop products/services and technologies.
- Monitor the movements of your clients to understand their strategies.
- Monitor competitors’ prices and products.
- Get reports about the presence of your competitors in Social Networks.
- Identify strategies performed by competitors.
- Learn from the sales of your customers and your customer satisfaction.
- Find out when, how and where your competitors win contests or service proposals.
- Know when your competitors record or request patents, trademarks or royalties.
- Identify movements of key individuals working for your competitors and control their new hires.
- Identify new competitors.
- Monitor the agreements and R&D and technology development with TC, Universities, etc.
- Monitor blogs, websites, journals of high scientific value, R&D platforms and partnerships.
- Monitor tractor TC and Universities. Detect trends in R&D.
- Identify books and dissertations on scientific and technological issues.
- Monitor scientific articles’ databases.
- Monitor developments or changes in technical rules and regulations.
- Collect and analyze information about the status of patents of companies and organizations. Watch your patent infringements.
- Locate potential technology partners.
- Monitor leading researchers and technology gurus.
- Identify R&D projects (by your competitors, or related to your business).
- Analyze the legal status of patents that block your chances.
- Find and acquire technical knowledge applicable to your products or processes.
Strategic Management- Corporate Development:
- Monitor macroeconomic variables and environmental scorecards (GDP, values, ...)
- Identify major general trends, prospective and emerging sectors.
- Monitor new policies, legislation (state and regional official bulletins) initiatives and general regulatory changes.
- Identify major international projects and big science projects.
- Monitor information of interest and external models relating to internationalization processes and protocol standards.
- Monitoring programs of regional, national, European and international funding.
As mentioned, Competitive Intelligence is beneficial to any area of an organization, but the most notable results can be seen in the above areas.
To perform Competitive Intelligence tasks efficiently is essential to have a professional software. INNGUMA offers the most advanced functionality with low costs. See our plans and prices or contact us if you have questions.