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Companies Collect Competitive Intelligence, but Don’t Use It

lundi 10 août 2015

The first requirement for being competitive is to know what others in your space are offering or plan to offer so you can judge the unique value proposition of your moves. This is just common sense. The second requirement is to anticipate response to your competitive moves so that they are not derailed by unexpected reactions. That’s just common sense, too.

The third requirement is to ask the question : Do we have common sense ?

In my work in competitive intelligence I have met many managers and executives who made major decisions involving billions of dollars of commitments with only scant attention to the likely reaction of competitors, the effect of potential disruptors, new approaches offered by startups and the impact of long-term industry trends. Ironically, they spent considerable time deliberating potential customers’ reactions, even as they ignored the effect of other players’ moves and countermoves on these same customers. That is, until a crisis forced them to wake up.

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