Getting innovation on your side
Posted: Sat Feb 22, 2025 10:49 am
Competitive intelligence allows us to be more aware of changes and developments, identify trends, develop innovative potential and have the best defense and reaction system against radical innovations .
All this thanks to the analysis of the acquired data.
Having protection and risk reduction
Having this strategy reduces uncertainty and therefore the risk of:
imbalance in economic crises;
uneasiness with new competitors in the market;
betting on obsolete products and technologies;
the purchase of depreciating assets;
not knowing about a change in laws, fiscal and monetary policies;
the failure to anticipate geopolitical fatalities (such as wars and terrorism).
Facilitate decision making
The ultimate goal of competitive intelligence is to provide the information necessary for correct decision-making regarding any digital and offline marketing strategy , so taking this strategy into account will help you avoid making random decisions.
How to execute competitive intelligence?
It is important to emphasize that competitive intelligence is completely legal and that this process is governed by ethical codes and publicly accessible information .
Now, executing it is not a big deal, however it is necessary to keep in mind that:
You should always keep yourself informed. saudi arabia mobile database Nowadays, the most sensible thing to do is to do it through the use of technology. Read about reviews, trends, new concepts and theories, figures, do a study of the experience of your clients, suppliers, raw materials, among others.
Conduct a purchasing analysis of your customers and identify the needs of your target audience ;
identifies new business opportunities;
Set up what is necessary so that your entire organization is adaptable and flexible to any changes;
develops short, medium and long-term marketing plans ;
know your competitors;
identifies potential alliances with suppliers and potential investment partners ;
prioritizes the company's priorities;
analyzes all the information collected;
Have good communication with your collaborators regarding research, results and changes to be made in the company;
applies decisions made based on the information obtained.
All this thanks to the analysis of the acquired data.
Having protection and risk reduction
Having this strategy reduces uncertainty and therefore the risk of:
imbalance in economic crises;
uneasiness with new competitors in the market;
betting on obsolete products and technologies;
the purchase of depreciating assets;
not knowing about a change in laws, fiscal and monetary policies;
the failure to anticipate geopolitical fatalities (such as wars and terrorism).
Facilitate decision making
The ultimate goal of competitive intelligence is to provide the information necessary for correct decision-making regarding any digital and offline marketing strategy , so taking this strategy into account will help you avoid making random decisions.
How to execute competitive intelligence?
It is important to emphasize that competitive intelligence is completely legal and that this process is governed by ethical codes and publicly accessible information .
Now, executing it is not a big deal, however it is necessary to keep in mind that:
You should always keep yourself informed. saudi arabia mobile database Nowadays, the most sensible thing to do is to do it through the use of technology. Read about reviews, trends, new concepts and theories, figures, do a study of the experience of your clients, suppliers, raw materials, among others.
Conduct a purchasing analysis of your customers and identify the needs of your target audience ;
identifies new business opportunities;
Set up what is necessary so that your entire organization is adaptable and flexible to any changes;
develops short, medium and long-term marketing plans ;
know your competitors;
identifies potential alliances with suppliers and potential investment partners ;
prioritizes the company's priorities;
analyzes all the information collected;
Have good communication with your collaborators regarding research, results and changes to be made in the company;
applies decisions made based on the information obtained.