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competitive rviews

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Published on June 18, 2007

Author: Me_I

Source: authorstream.com

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Slide1:  Conducting Effective Competitive Reviews The Competitive Intelligence Center presents: A 1998 SCIP Survey asking members what CI tools were most used and most effective::  A 1998 SCIP Survey asking members what CI tools were most used and most effective: Tools for Analyzing CI Competitive Reviews 88.9% Financial analysis 72.1% SWOT analysis 55.2% Scenario development: 53.8% Win/loss Analysis: 40.4% War gaming: 27.5% Cojoint analysis: 25.5% Simulation/modeling 25% Effectiveness of Tools SWOT Analysis: 63.1% Competitive reviews: 52.4% Financial analysis 45.5% Win/loss Analysis: 31.4% War gaming: 21.9% Scenario development: 19.2% Cojoint analysis: 15.8% Simulation/modeling: 15.4% SWOT analysis and Competitive Reviews are the most effective CI tools Slide3:  Why Perform A Competitive Review? To use past and current information about competitors to be able to anticipate their future moves… so you can craft both offensive and defensive strategies accordingly. A Competitive Review is a critical component of a Competitive Intelligencesystem:  A Competitive Review is a critical component of a Competitive Intelligence system Lets get started…. Slide5:  A Competitive Review has the following 4 Key objectives: Identify competitor strategies – now and in the future. Predict and monitor competitor’s likely responses to your strategies and tactics. Understand a competitor’s strengths, weaknesses, opportunities and threats (SWOT). Determine how well a competitor’s capabilities and resources are to support their chosen strategies to gauge the likelihood of success. Slide6:  The Competitive Review process requires the following knowledge about a competitor: Future goals and potential Current strategy – at all levels Strengths and Weaknesses Context: Assumptions held about the firm and the industry Goal: Combine these elements together to develop a Competitor’s Response Profile…as shown in the following illustration… Slide7:  Competitor’s Response Profile Is the competitor satisfied with it’s current position? What likely moves or strategy shifts is a competitor likely to make? Where is the competitor vulnerable? What will provoke the greatest retaliation by the competitor? Future Goals At all levels of management And in multiple dimensions What drives that competitor? Current Strategy At all levels of management And in multiple dimensions What is the competitor doing and capable of doing? Assumptions Held about itself and the industry Capabilities Strengths and Weaknesses Source: Competitive Strategy, Techniques for Analyzing Industries and Competitors Michael E. Porter Performing a Competitive Review:  To be effective, the output of a competitive review must be: timely, credible, concise, relevant and accessible to decision makers Performing a Competitive Review Performing a Competitive Review:  Step 1: Plan your review at 2 levels: Tactical level Strategic level Step 2: Define Requirements Step 3: Gather intelligence Step 4: Develop profiles and benchmark each competitor Step 5: Disseminate and explain findings Performing a Competitive Review Performing a Competitive Review:  Step 1: Plan your review at 2 levels: Strategic and Tactical and Identify rivals: current and potential Define review key objectives at Strategic and Tactical levels Relate any comparisons to customer value, innovations and shareholder value Performing a Competitive Review Step 2: Define Your Requirements:  Step 2: Define Your Requirements Step 2: Select from Common Information Categories::  Step 2: Select from Common Information Categories: Step 2: Select from Common Information Categories::  Step 2: Select from Common Information Categories: Step 2: Select from Common Information Categories::  Step 2: Select from Common Information Categories: Slide15:  Step 3: Gather Information from your Information Base and leverage personal networks: Pool of Information Resources Sales force Marketing Business Intelligence: Databases/CRM Internet Resources Industry studies Market studies Trade publications Press releases White papers Newsletters Product kits Pricing schedules Fact/spec. sheets USP/Branding andamp; positioning Events Tradeshows Seminars Market studies, secondary research RFIs, RFPs Client wins/losses Client defectors Step 4: Develop profiles and benchmark eachcompetitor:  Step 4: Develop profiles and benchmark each competitor Slide17:  Use the framework VRIO = Value, Rarity, Inimitability, and Organization for Decision Making Value - each marketing and sales resource is assessed for its ability to add value to the firm to help exploit an opportunity and/or minimize a threat. Rareness - is the resource that your organization possesses rare…providing your firm with a competitive advantage? Inimitability – how sustainable is this competitive advantage or is it easily imitated or copied by competitors? Organization – does the organization have the capacity to take advantage of the valuable, rare and inimitable resources?   Only those marketing and sales resources that pass the sequential VRIO assessment are deemed competitively valuable resources. Source: Strategic and Competitive Analysis, Methods and Techniques for analyzing business intelligence, by Craig S. Fleisher and Babette E. Bensoussan, Prentice Hall, 2003. Sample Profile report formats are available at: Compiling the Competitive Review:  Company Profile Report Merger/Acquisition Checklist Employment Review Company Strategy Report Products andamp; Services Report Finance Report Sample Profile report formats are available at: Compiling the Competitive Review Step 5: Disseminate Profiles and explain findings:  Step 5: Disseminate Profiles and explain findings Slide20:  See The Competitive Intelligence Center’s List of online resources entitled: 'Library', 'Helpful links' and 'More' for a comprehensive list of online resources to assist you in Compiling Your Review This presentation is © copyright 2001-2002 by The Competitive Intelligence Center Slide21:  Additional Recommended Reading: Strategic and Competitive Analysis, Methods and Techniques for analyzing business intelligence, by Craig S. Fleisher and Babette E. Bensoussan, Prentice Hall, 2003. Proven Strategies in Competitive Intelligence, John E. Prescott and Stephen Miller, John Wiley andamp; Sons, 2001 This presentation is © copyright 2001-2002 by The Competitive Intelligence Center

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