In order to ensure your company’s survival and development, it is important
to react to the competitors’ moves. There are two good ways of building a
better basis for activities in this field:
Continuous competitor surveillance:
- A competitor analysis:Here, we can look at the strength and weaknesses of some selected
competitors in the field of their products, their ressources, the customers'
perception of the competitor, etc. Moreover, we can look for information on
the history of the company and their future strategy.
In the case of a new product area or market, we start by searching potential
Work with continuous business intelligence
increases the time available to respond to competitor actions. It is primarily
done through frequent database searches according to an agreed search profile.
Our partner Bruce Hubbard carries out these database searches.
It is said that companies can be divided in 3 groups:
Those who see things happen (and react on it)
Those who ask: What happened?
- Those who make things happen (based on a good knowledge of the situation,
it is to be hoped)
Back to Market
See also 'benchmarking'.
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