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Effective Competitor Benchmarking
Determine what aspects you want to compare with your competitors: pricing, product features, marketing strategies, customer service, market share etc. Agree on relevant KPIs.
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In warfare and business, no strategy survives first contact with the adversary. Your business strategy, like a military battlespace, must adapt to the realities of the marketplace.
Business is often likened to war. It’s a continuous battle to conquer the market, win customers, and secure sales.
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In the realm of business, market leaders often enjoy a multitude of advantages. They command brand recognition and customer loyalty. And economies of scale and resources that set them apart from their competitors. Challenging these established giants might seem like an impossible task. Still, with strategic ingenuity and a willingness to disrupt the status quo, it’s possible to level the playing field.
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Here’s the comprehensive step-by-step guide for benchmarking competitors. You’re not likely to conduct a competitor benchmarking exercise this deeply. But it may give some guidance and food for thought. Its competitor insight unveiled.
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The concept of competitive advantage has been a cornerstone of strategic planning. It refers to the unique attributes or capabilities that allow you to outperform your competitors. These attributes could include superior product quality and exceptional customer service.
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We’re told we are on the cusp of a quantum revolution, a technological leap that promises to redefine the boundaries of what’s possible. Massive enterprises will make even more money; one or two new startups will come from nowhere and become unicorns overnight. This article surrounds quantum technology insights and all that it entails.
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Analysing your competitors’ pricing strategies is important to understand your market position. And then shape your pricing approach.
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The allure of battlecards is like a siren’s song. This tool will give you everything you need about your competitors and markets and how to beat them to the next deal. It is enticing yet potentially misleading.
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In a time now long behind us, Bob Dylan referred to the ‘times they are a changing “Come, Senators, Congressmen, please heed the call don’t stand in the doorways and block up the halls.” This article implores you to use competitive insight to ride the changes rather than trying to hide away
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Here we offer an ever-growing list of Competitive Intelligence analysis tips for use in your day to day work.
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This article asks whether you believe you have numerous strategic choices available to you. It is written by Babette Bensoussan of Mindshift as part of her rather splendid Monday motivation series. A weekly article on competitive intelligence, life and executive coaching.
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Welcome to our weekly raw and unfiltered straight-talking look at all things associated with competitive intelligence and related insight. This article is called So why is intelligence such a big deal, and what is it anyway? It accompanies this week’s episode, which can be found here:
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Did you know that Competitive analysis is a powerful and cost-effective tool to help small businesses? Help businesses like yours understand their industry and the competition. Look at competitors’ strengths and weaknesses to learn from their successes and failures.
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There is a common misconception that Competitive intelligence is somehow data-driven. While data plays a crucial role in competitive intelligence, it is not entirely data-driven. This article offers some example competitive intelligence questions to help start your project.
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Competitive intelligence is about collecting, analysing and distributing information about competitors and markets. So you can make informed strategic decisions. While data plays a crucial role in competitive intelligence, it is not data-driven. This article will explain why competitive intelligence is not solely dependent on data. Or, to put it more bluntly, why competitive intelligence is not data-driven.
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SWOT analysis is a popular tool you may have heard of once or twice. Especially if you have been to your local business school. It’s used by many businesses, often incorrectly, to assess their:
Strengths
Weaknesses
Opportunities
Threats
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A competitive advantage is a set of factors allowing you to outperform competitors.
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Standing out from the crowd is hard in our highly competitive and ever-so-noisy business landscape. But it’s also crucial for your long-term success. Traditional competitors are pecking away at your profits, and alternative solutions are getting in the way of your profits and threatening your bottom line.
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This article suggests how to boost your problem-solving skills with George Smiley and friends. How skilled are you at connecting the dots? Detectives on TV are often portrayed as brilliant minds, gifted with the ability to perceive what ordinary people cannot. However, like most things, they have a tried and tested method which they hone over time.