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How to Gather Competitor Intelligence

Posted On - 22/07/2013 10:12:42

A coherent Strategy for Price Competition built on sound competitive intelligenceBeing price competitive is essential. Yet competing on price alone will damage you. The answer lies in having a coherent Strategy for Price Competition built on sound competitive intelligence. A strategy based on research to understand the value your competitor's offer, at what price. Only this way will you create a competitive response – your Strategy, even Business Plan – that genuinely exploits the opportunities and attacks the threats they pose you. This blog focuses on how to collect the information you'll need.

Just before we start

This blog is part of series on how to write strategy. Its objective is to do everything possible to help you write your own, without actually doing it for you. Using an imaginary business – URPCSFIXED Limited - with 8 fictitious competitors, it illustrates the process end-to-end. Each blog represents a major stage of strategy development with detailed guidance, tools, templates and the appropriate part of the Strategy Document fully written up, given. For more detail on the different blogs in this series and how they all fit together, see ‘A Strategy for Price Competition'.

What data?

You may be fresh to this blog; you may not. Either way, to understand this blog you need to understand the Scope of information the example rests on. If you haven't yet read ‘Sizing Up Your Competition' consider doing so as it spells out why the Scope given below is as it is:

This is the Scope of information for URPCSFIXED's Strategy

 

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