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Industry Competitor IntelligenceView Template for: Industry Competitor Intelligence The purpose of this section is to provide objective industry information compiled by sources outside the business unit. Very often, business managers have a biased opinion about their image in the market place and the quality of their products. (Rarely will business mangers admit to holding a biased view or appreciate that the information they deal with is often biased.) This section, to put it bluntly, helps keep business managers more objective and realistic about their business. Also, it helps drive home the obvious point that it's what the customer thinks that is important, not what the business manager thinks the customer should know. Another goal of this section is to facilitate the procedure for the corporate planning department (or corporate competitive intelligence department) to collect data from all corporate businesses. The competitive information can then be used when conducting a competitor analysis of a competitor which competes in more than one business. The information sources used for this section may include trade magazines, ex-employees of competitors, funded studies by a consulting firm or university, trade shows, annual reports, ads and stories in newspapers and magazines, agencies and recruiters on retainer, industry survey groups, focus groups, sales force contact with customers, industry analysts, etc. The type of data collected may include information on competitor strengths, weaknesses, strategies, costs, culture, product plans, organizational charts, biographical data on employees, market share data, financial data, suppliers, allocation of resources, relationship with parent company, and more. In practice, general management is strongly interested in this section. It not only represents what the outside world thinks, which is important for its own sake, but it represents another avenue of information to judge the performance of the business unit. |
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