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AWARE Competitive Intelligence Strategy, Training, Research Services for Competitive & Marketing Intelligence

AWARE: UK competitive intelligence consultants offering competitor analysis and research services, competitive intelligence training & workshops and CI and marketing strategy consultancy.
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AWARE Competitive & Marketing Intelligence
Frequently Asked Questions on CI

Over the years a number of questions keep cropping up, in one form or another asking about various aspects of competitive intelligence

  • what it is
  • how to do it
  • collection techniques
  • analysis

and more.

We have collected many of these questions, and published those we find more interesting, or generally relevant, in our question and answer column in Competitive Intelligence, the magazine produced by the Society of Competitive Intelligence Professionals (SCIP).

Some of these questions and our answers are reproduced on these pages (although in some cases we've updated the answers with fresher information).

If you don't find an answer to your CI problem from these questions, feel free to ask us your question - and we'll try and answer it for you.

Note: The following lists the original questions asked, and answered.

  1. We are currently in the process of performing our market research for a new short-term investment firm that we wish to establish and we were wondering if you may be able to provide us with some insight regarding how to obtain specific data on our competitors. For example, we are looking for general business information such as the year established, number of employees, annual sales, market share, annual growth rate, and budget information.

  2. I've been asked to perform an evaluation on one of our major competitors and have never done this before. I've gathered a ton of information and now need some guidance as to how to put it all together. Would you have an example of a format I could use for a competitor evaluation?

  3. How do you compile a SWOT analysis on competitors that will allow me to isolate the areas I need to focus on? I already have performance measures and information such as
    a) finances and financial strength
    b) marketing & sales initiatives,
    c) key people and their skills and experience.
    d) the company's operations, product quality, and strategies.     (See also question 24)

  4. We are a corporate long-term care pharmacy providing a prescription service for skilled nursing facilities, board and care, etc. How do we find out who are our direct competitors in our region and some significant marketing information on each?

  5. When shopping at a competitor's premises what is ethical? Are you allowed to walk through the store with a tape recorder or make lists of your competitors prices and stock?

  6. I'm developing a strategy for my products and need to know what my competitors charge for their products. I don't know where I can find information on such prices.

  7. I have an idea for an Internet business and would like to research the market to see what, if any, other businesses are doing the same thing. I am currently utilizing the Internet to search for potential competitors and services that may be similar to mine. I am finding that many of my searches on various search engines are futile because there are so many different ways to query the information.... In other words, if I neglect to query ALL possible combinations of words many potential competitors do not appear. Do you have any suggestions as to the best method someone like myself can utilize to research the current market without going to a professional, thereby giving up my idea?

  8. We are currently in the process of performing our market research for a new short-term investment firm that we wish to establish and we were wondering if you may be able to provide us with some insight regarding how to obtain specific data on our competitors. For example, we are looking for general business information such as the year established, number of employees, annual sales, market share, annual growth rate, and budget information.

  9. How do I go about doing competitive analysis on 12 Companies engaged in developing electronic trading, routing and order management systems.

  10. Is there a 'formula' for collecting information on competitors? We are an e-business consultancy and would like to collect information on competitors. What is the most effective way of doing this? What are the questions I should ask? Where do I look?

  11. Please tell me all about "value chain analysis" and how is it useful in assessing competitive advantage?

  12. I sometimes find big differences when I look at news stories on my competitors, even though the news covers the same basic information and is for the same dates. How do I decide which story to believe and whether it is reliable?

  13. I've heard that as well as competitive intelligence there is also competitive counter intelligence. What is this, and how does it differ from CI?

  14. Do you have information on PEST (Political, Economic, Social & Technical) Analysis please? . (See also question 24)

  15. I am doing a project on competitive intelligence. I want to include a section about cultural differences between Europe and the US for CI. Can you help me?

  16. Should CI be a separate or integrated part of the product/commercial process within a firm? Is it better to outsource CI to an expert who can be objective, or set up an in-house CI department, risking being subjective when analysing competitors.

  17. Where can I learn more about Competitive Intelligence?

  18. We are a clothing wholesaler. We've recently found that one competitor appears to be purchasing goods from manufacturers and selling some of them at a price lower than the purchase price – making a loss on some key lines, while selling other goods at a normal price. How should we compete with them, especially as this is making our customers expect lower prices on this line?

  19. I have collected a lot of information on my competitors. Some of this information is strategic in nature while some is more basic. What is the best way of informing my management on the competitor information I've collected?

  20. What is the difference between business intelligence, competitor intelligence and competitive intelligence?

  21. Is there a connection between knowledge management and competitive intelligence?

  22. Where or how can I find financial accounts from companies in other countries?

  23. I work for a company that automates the supply of messages to pagers – for example to ask sales staff at several different locations to call in to the main office, or to tell them about a special offer. This is now a dying technology, and so we've started producing products serving a similar purpose, but broadcasting SMS messages to mobile phones. We're finding that this is a very fast changing market – with frequent technology updates. We're also losing clients to companies that are much smaller and younger than we are but don't know why as these companies don't have the reputation and experience that we have. What should we do?

  24. I have been asked to conduct SWOT and PEST analyses. Please can you tell me more about these analytical tools?

  25. My boss has had some business cards printed for me in the name of another company so that I can go around a forthcoming trade show and give the impression that I'm a potential customer and that I'm not from a competitor company. Is this acceptable & and if not what should I do?

  26. There is a major trade show coming up for my industry in a couple of months. What should I look out for when attending the show?

  27. My company is moving towards becoming a six-sigma company. Is it possible for a CI function to comply with six sigma?

  28. What is a business war game?

  29. I've been asked to justify our CI activities to our CEO. How can I explain the value of CI to him?

  30. I currently have a vacancy in our CI department. What characteristics should I be looking for in order to fill this vacancy?
Quick Tip: Questions

Quick Tip: Ask the right question

Rather than look for information to answer a question, think about how you will use the answer.

If you won't be able to incorporate actions based on the answer you find into your business strategy then maybe the question you asked needs changing to something that will lead to meaningful actions.

 

Books - Co-opertition

Recommended Book

Smart Services
Co-opetition : 1. a revolutionary mindset that redefines competition and cooperation; 2. the game theory strategy that's changing the game of business
Adam M Brandenburger & Barry J Nalebuff
Buy UK £ or US$

Read our review of this book

Michael Porter described this book as "the most important single contribution" in taking his original ideas on ways of achieving competitive advantage forward. The book is easy to read, inexpensive and contains numerous ideas to help reshape and challenge thought processes. The writers develop Porter's 5 forces model, and introduce a sixth force. They emphasise the strategic advantages of co-operation and look at game theory as a way of approaching business strategy.

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For more recommendations visit our book selection.

 

Public training

Competitive Intelligence Training

Do you need to
know more about
Competitive Intelligence?

We offer in-house Competitive Intelligence Training, customised to your requirements.
Find out about our training services today!

Public Training Workshops -
ProfitNet Training Course on Competitor/Competitive Intellgence

Tuesday 15 September / Wed 30 September
University of Brighton - Postgraduate Computer Suite, Watts Building.
Cost: £550 + VAT

A two-day workshop split into two halves (with practical work to be competed during the two-week gap) focusing on ways to use competitive intelligence to best effect within organisational strategy.

Learn how to discover valuable information about your competitors and use this to gain competitve advantage over them in today's changeable markets.

This is one of a series of workshops aimed at helping businesses combat the economic downturn and prepare them for future success under the auspices of the Collaborative Training Centre attached to the University of Brighton.

More information & online booking / Brochure (PDF)

 

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Our services in competitive intelligence research, competitor analysis and CI training will help you integrate and use competitive and marketing intelligence in your business, strategic and marketing planning processes. Whether you need research, advice or training, our mission is to support our clients so that they achieve their growth objectives.

For the best UK & European competitive intelligence and competitor analysis services, contact us today.

AWARE Phone numbers: 0845 430 9125 (International: +44 20 8954 9121). Fax: 0845 430 9126 (International: +44 20 8954 2102)

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Last page / site update: Thursday, June 11, 2009

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