Corporate Espionage Versus Competitive Intelligence

Competitive intelligence is a new concept. It is the process of collecting information about competitors and their products which could impact the success of the company. So it is very essential for a company to hire competitive intelligence employees who are particularly trained and skilled in this field. The manager is responsible for the research performed by the company. He can get or may not get the direct reports, but he has been trained in research and marketing skills. A manager will check and evaluate the competitive market methods and techniques by having the reports of company products and services. He has to be aware of the new products of the competitors on the markets and he has to move forward on getting the customers feedback with the help of consumer reports. He has to keep the reports and he has to tell the important information’s in the company. He has to gather information and other details relating to the company mergers, research, acquisitions, investment tactics, development and more. He is responsible and held in the position in the company to make changes in the company.

A manager has to create company swot analysis intelligence tools like database and spreadsheets. He has to design all these to offer good quality information. He should be capable of using all these tools to get dashboards, reports, and other kind of needed results. A good competitive intelligence manager should give preference to the important information and act according to the perfect reports for management use and review. He should also add some supportive reports to explain the reports in the clean way. While collecting the information’s, he will be able to cover the competitor’s strengths and weakness. Competitive intelligence is important tool in the organization. It helps to withstand in the crowd market. He has to know the nature of competition like number of competitors, their products volume of business and more. Market analysis is also very essential for the competitive intelligence manager. It includes with pricing and marketing strategy, target market, overall product information and presentation. Competitive research deals by studying competitor website, design, layout, links, theme, and the ease of navigation.