Competitive Position and Sources of Advantage - Competitor intelligence
8 important questions on Competitive Position and Sources of Advantage - Competitor intelligence
To understand the degree to which a business has a position of competitive advantage, we need to engage in a detailed analysis of competitors. What is an important question you should ask yourself when doing a detailed analysis of competitors?
How to identify the benchmark competitors (competitor intelligence)?
How does perceptual mapping work (competitor intelligence)?
- Without specifying criteria for evaluating competing products, customers are simply asked to rate the degree to which they perceive two competing product to be different from one another.
- The more similar two competitors are from a customer perspective, the more likely customers are to switch from one to another (and vice versa).
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After the benchmark competitors are established, what should a company do?
How to obtain competitor intelligence?
- By having a strong market orientation.
If a company does not have a strong market orientation, how can it obtain competitor intelligence?
What is competitive benchmarking (competitor intelligence)?
What are the three steps of competitive benchmarking (competitor intelligence)?
- Identify a key area of competitive weakness that affects customers satisfaction and/or profitability.
- Identify a benchmark company, which are the best in the world.
- Track the benchmark company's process advantage.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
