assignment

This part just helps you in that assignment and you should follow some important point

Definitions

· Competitive Intelligence-

The process of analyzing information about all aspects of the competitive environment for the purposes of formulating plans and strategies and making decisions

· Competitor Intelligence-

The process of analyzing information about competitors’ actions and business strategies

· Market intelligence

· The process of researching, analyzing and applying qualitative and quantitative data about a market environment

· Helps companies determine

· Current needs

· Future requirements

· Customer attitudes

· Factors that might have an impact on the market

Types of market intelligence

· Political, economic and legal environment

· Forces that have an effect on the market

· Product specific data

· Market infrastructure

Start International Business, Potential Risks:

· Political Instability

· Foreigners, Foreign Trade and Investment

· Control over commerce

· Legal Protection

· Legal Requirements

· Tax Regimes

· Competitors

· Customs

· Economic Conditions

· Foreign Exchange risks

· Currency Controls

· Geography

· Transportation

· Communication

· Distribution Channels

How to use market intelligence

· Answer questions about the market characteristics that apply to their business objectives

· Guide business strategies and trade more successfully

Market characteristic

· Market intelligence

· Geographic characteristics

· Demographic characteristics

· Economic characteristics

· Market potential

· Technological characteristics

· Socio-cultural characteristics

· Product Market

What is competitive intelligence?

The process of discovering, analyzing and using information to become more competitive in the marketplace

Data to be gathered:

· Suppliers

· Technology

· Legal and Regulatory changes

· Industry and market trends

· Political and Economic influences

· Competitors

· Materials

The need for competitive intelligence

· Become more profitable and avoid losses

· Make better strategic decisions

· React to legislative and regulatory changes in the market

· Decide on an effective market entry strategy

· Assess future profitability

· Direct the focus of research and development

The competitive intelligence model :

· 1.Conduct needs assessment

· 2. Formulate questions

· 3. Organize the process

· 4. Gather data

· 5. Organize data

Data collection:

· Software

· Commercial services

· Online sources

· Offline sources

Competitor Intelligence:

· The process of gathering and analyzing Competitors’ actions and business strategies.

· Examples:

Key questions about competitors:

· Where is the competing company located?

· How is it structured?

· Who are the key people?

· Does it have strategic partners? Where are they located?

· Has it purchased other companies lately?

· What is its main product or service offering?

· Who are its key customers?

· What is its market share?

· What are its marketing strategies?

· Who are its suppliers?

This is assignment part, you have to follow these steps but write the important point which are most important in this assignment.

A-Pick a company of your choice, it might be an existing business, or even a business which you are thinking of opening it after your graduation from this program.

The industry structure


The number of competitors


Competitor product and service offerings


Competitor market share, gross sales and profits

Potential for competitor growth


Company advantages and disadvantages


Competitor marketing, pricing and distribution

Competitors’ technological situation


Competitive barriers to market entry and exit


Impact of industry regulations


Potential competitors


Competitor attitudes towards new competition


Indirect competition