The markets are getting smarter and competitive day by day. To understand the competition marketers make the use of competitive intelligence and also to deal with competition.

Over the years competitive intelligence has evolved as a process of understanding, collecting, reviewing and distributing intelligence associated to any competitor, product, and customer. All these factors collectively improve the competitiveness in the environment of an organization.

Three Approaches to Competitive Intelligence

Tactical Intelligence

This is very basic line of attack to do analyses of competitor’s regular operational behavior like price policies or terms of sales etc. The sales department and the marketing manager use this tactical approach to win everyday battle of productivity. That’s why it is an imperative part of competitive intelligence, also known as operational intelligence.

Strategic Intelligence

Businesses needs to be acquainted with competitors in progress strategy, future aims, and abilities. Strategic intelligence pertains to gathering, processing, analyzing and conjecturing of intelligence information with respect to the firm and industry, for framing progressive strategy plan and policies. It is a decision making tool used by companies and organizations. An analytical data draws a prospective for business experts for valued strategic decision-making.

Counter Intelligence

It’s about protecting secrets and policies of an organization. Each company penetrates to understand the stats and strategies, tactics of their competitors that means your competitor might be definitely watching yours. There comes the requirement of counter intelligence for protecting important information from similar efforts of other organization to gather it.

The cycle of competitive intelligence for a business organization circulates on four vital shell points.

  • Data collection
  • Processing and storing
  • Data analysis
  • Intelligence sharing
  • Planning and Direction