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Competitive Intelligence
Successful companies are organizations that grasp the business issues significant to their performance, and develop the most precise understanding of definitions of value and creation of value. Executives need to make decisions urgently, based on actual world events and actual intelligence. Often, however, an organization tends to delay critical intelligence.
Business Private Eye's Competitive Intelligence assesses all information collected from investigative research and develops it into useful knowledge for client organisations. Business Private Eye predominantly employs primary research methods. We verify and evaluating desk research results through expert interviews and expert sources using our network in more than 18 countries in Asia and other parts of the world.
FRAMEWORK
Companies employ competitive intelligence in order to examine and contrast themselves from other organizations (benchmarking), to determine hazards or chances in their industries, and to experiment their plans against market reaction, which allow them to make knowledgeable decisions. Majority of companies presently realize the significance of understanding how their competitors are acting and how the market is evolving, and the information obtained allows organizations to realize their strong and weak points.
Types of Competitive Intelligence Studies services we provide:
1. Competitor Monitoring Study - This research unearths a specific company’s activities to evaluate its strengths and plans. This decreases the negative exposure to being caught unaware by your competitors, big or small. Competitor movements such as new entrants into a market or an addition in competitive aggression to launch new products, grow their market share, or enter new segments of a market are monitored in this study.
2. Organization/ Company Sketch Study - This is an exhaustive and extensive study of a specific firm's operational efficiency, movements and agenda in a specific market or location. Typical topic issues are company experience, principals' and leaders' description, company organization, marketing, sales, finance, operations, commodity or service characteristics, brand image and communication, distribution network and supply, partners, human resources, and R&D. Business Private Eye also conducts research on acquisition (Mergers and Acquisitions).
3. Market Intelligence Tracking - This research studies the actions and habits of a particular market in weekly, monthly or quarterly intervals. Issues that are higlighted consists of total market size, market segmentation, increasing or decreasing sales and rate, pricing, advertising quantity, expectations, new product launch, etc.
4. Market Entry Study - also called a feasibility study, this research assists you in determining whether to advance on locational expansion intentions, goods/services line extensions, product development, and other advancement drives. It provides you a big window view before stepping right into unfamiliar domain.
5. Geographic (Country) Sketch Study - This research provides government rules and requirements for conducting business in a specific industry within an identified market. This is especially significant for companies that supply commodities or services that are prone to require numerous government related processing documents.
6. Market Sketch Study - This is an comprehensive research of a specific market that consists of issues such as total demand amount and size, market segmentation, demand trends and prognosis, growth expectations, product availabilities, significant market players, distribution network, and environmental issues (regulatory, social, technology, economic). Market profile studies are usually assimilated into competitor studies or feasibility studies. This supplies businesses with a clearer and broader view of the market atmosphere.
7. Industry Sketch Analysis - This research supplies a depiction of an industry and consists of important player data, market size, classification and segmentation by significant player, product classification, attributes, customer associations, network of supply and distribution, suppliers, profits, quantity rewards, geographic scope, technological advancement; regulatory changes, market changes assumptions and direction, and whether the industry is potentially lucrative.
8. Distribution Channel Research- Companies intending to expand into new locations for their commodities or services can understand current or prospective wholesalers, importers, retailers, distributors or other network contacts within Asia. For instance, a worldwide manufacturer of packed chemicals intending to enter the the Chinese market would require to comprehension of the distribution network evolution, such as logistics, land delivery, warehouse management and even import rules and restrictions.
9. Supply Chain/ Value Chain Research - Companies searching for supply of raw resources, services and assembly are usually interested in understanding regarding current or prospective supply chain networks within the Asian regions. For example, China is viewed as equally a low priced supply or manufacturing center and a large market for foreign commodities or services.
Value chain analysis allows our clients to deepen knowledge of the strategies from which a competitor derives a competitive advantage and generates higher margins and shareholder value. The comprehension of the competitive business atmosphere into a number of value generating activities affords opportunity for the client to identify processes, activities and relationships that would translate into higher profitability.
10. Partner Research and Assessment - This is an additional valuable research to assist firms and businesses search, identify and assess prospective business partners in significant markets all over Asia. The procedure begins with a detailed understanding of the partnership needs, objectives and benchmark of our clients. A recruiting spreadsheet is then designed and filled with prospective partners. These companies are then exposed to a comprehensive screening procedure in order to determine the most appropriately qualified candidates who are then additionally assessed and judged based on the client's benchmark.
Outcomes of partner researches or pre-Mergers & Aquisitions assessments have been employed for partnership negotiations and is an essential instrument for assessing the company and operational capability of prospective alliances.
11. M&A study (Due diligence)
Purchasing a business is a big undertaking. First, identifying best potential acquisition targets is critical. After this, due diligence is conducted. Making certain that all things are in order requires more than only scanning the financial ledger. Files, records and books that contain all information regarding the business and the daily operation of that business should be inspected. Advice from other financial and business experts is a vital key to success.
What Competitive Intelligence can do for your company?
· Anticipate changes in the marketplace
· Anticipate actions of competitors
· Discover new or potential competitors
· Learn from successes and failures of others
· Increase the range and quality of acquisition targets
· Learn about the new technologies, product and processes that affect your business
· Learn about political, legislative or regulatory changes that can affect your business
Broadly defined, Competitive Intelligence is the act of collecting, analyzing, and employing information about products, domain constituents, customers, and competitors for the short and long term plans of an organization. Strategically, Competitive Intelligence is the method of obtaining knowledge of competitor's plans beforehand and to plan a business strategy to counter their plans.
Competitive Intelligence is an ethical and legal business practice. (This is significant as CI professionals stress that the science is not the same as industrial espionage which is unethical).
Competitive Intelligence is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making. CI professionals stress that if the intelligence gathered is not usable (or actionable) then it is not intelligence. In other words, Competitive Intelligence is the organizational function responsible for the early identification of risks and opportunities in the market before they become obvious.
If you have a customized research project you would like to discuss with us, please email us at admin@businessprivateeye.com or contact us
Business Private Eye is one of the top competitive intelligence and market research companies/ agencies/ firms in Asia (Philippines, India, China , Vietnam, Korea, Japan, Thailand, Taiwan), providing marketing research services and solutions.
Know thy-self, know thy competition, and get it right almost every time.
Know thy-self, not know thy competition, and get it right about half the time.
Not know thy-self, not know thy competition, and get it wrong almost every time.
-Chinese saying
