Find Your Competitive Intelligence & Competitor Analysis FAQs
We’re all about your real competitive advantage.
This list is an ever-growing, regularly updated, alphabetical competitive intelligence glossary of terms. Some are just for interest and relate to intelligence in general. Please get in touch for a free, no-obligation chat.
The following information is a list of competitive intelligence FAQs (Frequently Asked Questions).
We intend to update this competitive intelligence FAQ list constantly.
Featured
competitive intelligence questions
Are we at risk of being investigated by our competitors?
Most likely, that threat is genuine right now. However, we have excellent countermeasure options that can be applied. As always ‘prevention is better than cure’. Another way to look at this risk. What if you are not being investigated by your competitors? The big question is: Why not?
Can you assist in presenting and briefing our senior leadership on critical issues?
Certainly, it would be our pleasure to do so, and if it is identified at the outset, it can then be a built-in feature of the mission and thus extremely cost-effective for our clients.
Do you need to analyse information to get intelligence or should we just use a market researcher?
The analysis creates a robust competitive strategy that gives you a competitive edge. Without analysis, you have a nice-looking report and some doughnut charts.
How do you gather competitive intelligence?
- Identify main direct competitors
- Determine your primary areas of interest, research goals and define questions
- Gathering external and internal competitive information
- Centralise competitive intelligence
- Build competitor profiles
- Share competitive insights with relevant stakeholders
What are typical competitor analysis questions?
- What are your competitors’ strengths and weaknesses?
- What do your customers like about your competitors’ products or services?
- How do your competitors market their products or services?
- What pricing strategies do your competitors use?
- How does your competition respond to customer inquiries or complaints?
What does a Competitive Intelligence project cost?
Because we bespoke each project and different approaches to different targets, we have also preserved our ability to design a service to meet the budgetary preferences of our customers. We can also be agile in how we can develop different deliverable phases to meet timing and budgetary needs.
What is Competitive Intelligence?
Competitive Intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive Intelligence offers certainty, competitive advantage, insight & growth.
Why competitive analysis?
It can help you understand your competition and what strategies they are using to attract customers. This information can help you adapt your strategies to stay ahead of the competition. Additionally, a competitive analysis can help you identify new opportunities in the market and understand the dynamics of your industry.
Will our competitors know that we are looking at them?
They will have no idea that you are conducting the investigations. Our clients are entirely removed from any part of the process within the range of the target.
Can you assist building our battlecards?
It would be a pleasure to do so. But first it’s best to ask if battlecards are what you actually need for your requirements.
Can you assist us in implementing improved insights into our organisation ongoing?
Indeed, we excel at this and can do so on the back of a project and utilise the momentum gained to more efficiently install the system and process architecture and provide ‘top cover’ and mentorship along the way.
How do you obtain the information that we require?
At Octopus Intelligence, we apply a series of unique protocols that allow us to extract both primary and secondary intelligence, combine and verify all findings, and present them to our clients in a manner they most prefer.
How long does a project take to deliver the findings?
It will take a minimum amount of time to deliver the optimum findings. We never leave any component unfulfilled due to client deadlines, and we do whatever it takes to deliver all of the criteria requested by our client.
What can we do to identify new players in the marketplace?
We are experts in agility and are able to adjust our mission objectives if we are mid-way through a project; otherwise, we can utilise our understanding to create an additional sub-mission afterwards to accommodate a new target focus.
What does competitor analysis do?
There are a few different things that can be done as part of a competitor analysis. One is to look at the strengths and weaknesses of the competition, as well as what they are doing well and where they could be improved. Additionally, it can be helpful to look at the target market for each business and how they are positioning themselves within that market. Finally, it’s important to track the competition’s marketing efforts and see what kind of strategies they are using.
What happens if we find that we need ongoing information about a competitor?
If this is recognised as a result of the initial mission, it is straightforward to construct continuations to maintain the ‘knowledge advantage’.
What is the role of competitive Intelligence?
Competitive Intelligence is a process of collecting, processing and analysing information from and about the internal and external or competitive environment to help decision-makers in decision-making and provide a competitive advantage to the enterprise.
Why use competitive intelligence consultants?
Competitive intelligence consultants like ourselves at Octopus Intelligence start with a clean slate. And it’s unlikely that the analyst will be best mates with the sales director of one of your competitors. We identify and contact relevant stakeholders within your competitive market with fresh eyes. Will will not have a prior necessity of having a previous relationship with them. Talking to your competitors offers many advantages over interviewing customers. Why? Well, most information you want is not available to the public. People like Octopus Intelligence are used to talking to your competitors. Collecting that hard-to-find information over many calls. And combining it with the secondary information to create competitor intelligence.
Core
competitive intelligence questions
Can you use industry external consultants?
You may turn to external consultants. External industry consultants can help be a good source of Competitive Information. But again, they will be blinded and will not want to rock the boat with you. They will be looking for and finding the answers you want to see. Why? Well, external consultants rely on gathering information from industry people they know. So they are limited to those they know and the opinion of those they know. They could judge old opinions and bias as insight.
How can I beat my competitors?
Certainly, it would be our pleasure to do so, and if it is identified at the outset, it can then be a built-in feature of the mission and thus extremely cost-effective for our clients.
How can I learn from my competitors?
The analysis creates a robust competitive strategy that gives you a competitive edge. Without analysis, you have a nice-looking report and some doughnut charts.
How do you calculate EBIT?
There is no one-size-fits-all answer to this question, as the amount of EBIT (earnings before interest and taxes) will vary depending on the specific business and industry. However, there are a few general methods that can be used to calculate EBIT. One common method is to take the total revenue of the company and subtract the total expenses (excluding interest and taxes).
How do you do market sizing?
- What are your competitors’ strengths and weaknesses?
- What do your customers like about your competitors’ products or services?
- How do your competitors market their products or services?
- What pricing strategies do your competitors use?
- How does your competition respond to customer inquiries or complaints?
How is competitor analysis done?
Because we bespoke each project and different approaches to different targets, we have also preserved our ability to design a service to meet the budgetary preferences of our customers. We can also be agile in how we can develop different deliverable phases to meet timing and budgetary needs.
How to conduct competitor analysis?
Competitive Intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive Intelligence offers certainty, competitive advantage, insight & growth.
How can you crush your competitors?
It can help you understand your competition and what strategies they are using to attract customers. This information can help you adapt your strategies to stay ahead of the competition. Additionally, a competitive analysis can help you identify new opportunities in the market and understand the dynamics of your industry.
How to define my market?
They will have no idea that you are conducting the investigations. Our clients are entirely removed from any part of the process within the range of the target.
How to do value chain analysis?
It would be a pleasure to do so. But first it’s best to ask if battlecards are what you actually need for your requirements.
How to find a competitor’s price?
Indeed, we excel at this and can do so on the back of a project and utilise the momentum gained to more efficiently install the system and process architecture and provide ‘top cover’ and mentorship along the way.
How to Identify Direct Competitors
At Octopus Intelligence, we apply a series of unique protocols that allow us to extract both primary and secondary intelligence, combine and verify all findings, and present them to our clients in a manner they most prefer.
How will you report the findings?
It will take a minimum amount of time to deliver the optimum findings. We never leave any component unfulfilled due to client deadlines, and we do whatever it takes to deliver all of the criteria requested by our client.
What are Competitive Intelligence examples?
We are experts in agility and are able to adjust our mission objectives if we are mid-way through a project; otherwise, we can utilise our understanding to create an additional sub-mission afterwards to accommodate a new target focus.
What are good market analysis questions?
There are a few different things that can be done as part of a competitor analysis. One is to look at the strengths and weaknesses of the competition, as well as what they are doing well and where they could be improved. Additionally, it can be helpful to look at the target market for each business and how they are positioning themselves within that market. Finally, it’s important to track the competition’s marketing efforts and see what kind of strategies they are using.
What are the benefits of Competitive Intelligence?
If this is recognised as a result of the initial mission, it is straightforward to construct continuations to maintain the ‘knowledge advantage’.
What could be your competitors’ weaknesses?
Competitive Intelligence is a process of collecting, processing and analysing information from and about the internal and external or competitive environment to help decision-makers in decision-making and provide a competitive advantage to the enterprise.
What do competitors do better than you?
They build a robust online presence, speak to their audience and build credibility within their defined market. Enhance their brand recognition and take the lead in content marketing to reach and attract more customers.
What do successful competitors do?
Competitors will consistently try to offer better customer service, product quality and marketing. In healthy markets, buyers will demand the best solutions for their specific needs. Differentiate your offerings to create tremendous value for the users you serve.
What does Competitive Intelligence do?
Competitive intelligence consultants like ourselves at Octopus Intelligence start with a clean slate. And it’s unlikely that the analyst will be best mates with the sales director of one of your competitors. We identify and contact relevant stakeholders within your competitive market with fresh eyes. Will will not have a prior necessity of having a previous relationship with them.
What does competitive intelligence mean?
Competitive intelligence consultants like ourselves at Octopus Intelligence start with a clean slate. And it’s unlikely that the analyst will be best mates with the sales director of one of your competitors. We identify and contact relevant stakeholders within your competitive market with fresh eyes. Will will not have a prior necessity of having a previous relationship with them.
What is a Competitive landscape?
A competitive landscape is a visual representation of the businesses that compete with one another in a given market. It typically includes an overview of the industry, the key players, and how they stack up against one another. A competitive landscape can help business owners understand the competitive environment they’re operating in and identify potential opportunities and threats.
What is Business intelligence?
Business intelligence (BI) is a process of gathering, analysing and reporting on business data to help business leaders make better decisions. BI can provide insights into areas such as customer behaviour, market trends and operational efficiency.
What is Competitive positioning?
Competitive positioning is a marketing strategy that aims to make a company’s products and services more attractive to consumers than those of its competitors. It involves creating a unique selling proposition (USP) that differentiates a company’s offerings from its rivals’. The goal is to make the company’s products and services the first choice for consumers when they’re considering purchasing a product or service in its category.
What is Counter Intelligence?
Counter Intelligence prevents the collection of valuable competitive information and sets out to hide your real intentions through targeted confusing, and misleading disinformation.
What is Due Diligence?
Due Diligence (background checks) is a robust business appraisal on a person of interest, investment or business to assess many things, including:
- Track records
- Potential conflicts of interest
- Fact checks
- Competencies
- Political links
- Criminal records
What is good competitive Intelligence?
Competitive intelligence consultants like ourselves at Octopus Intelligence start with a clean slate. And it’s unlikely that the analyst will be best mates with the sales director of one of your competitors. We identify and contact relevant stakeholders within your competitive market with fresh eyes. Will will not have a prior necessity of having a previous relationship with them.
What is market analysis?
Market analysis is an assessment of your market, including market size in terms of volume and value. Assessing customer segments, buying habits, competitors, the general business environment, associated regulations and barriers to entry. Market analysis determines the attractiveness, customers, competitors and the dynamics of a particular market within a specific industry sector. Develops an understanding of the relationship between supply and demand, strengths, weaknesses, opportunities and threats for your product or service to enable you to make more informed decisions about potential marketing strategies.
What is market intelligence?
Market Intelligence is the ethical collection and analysis of competitive information to enable you to avoid surprises, think more moves ahead, and minimise uncertainty to help more informed strategic decisions. It gives you the ability to differentiate yourself and stay ahead of the competition, and in many cases, can be the unspoken, hidden key to success.
What is market sizing?
Market sizing is the estimated number of potential buyers within a given market. And the entire sales they may generate. This can be done in a number of ways, including surveys, interviews, and research. Once the size of the market is estimated, it can be used to help determine whether or not to launch a new product or service.
What is Porter’s five forces model?
Porter’s Five Forces is a model that analyses and isolates the five competitive forces that shape each industry and determines an industry’s strengths and weaknesses. The Five Forces model is named after Harvard Business School professor Michael E. Porter. Michael Porter argues that five forces influence competition and long term investments. The five forces are the:
- Threat of entry
- Bargaining power of suppliers
- Bargaining power of bias
- Intensity of rivalry
- Threat of substitution
What is product intelligence?
Product intelligence is the process of collecting, analysing, and acting on data about how people use your product. The process involves using customer data and competitor analysis to help you build better products and customer experiences.
What is STEEP analysis?
The STEEP analysis looks at any external factors that influence trends, allowing you to analyse the past as well as predict the future. Enabling you to better understand many influential external factors that may affect your decision-making. Also called PEST analysis.
What is TAM?
TAM, or total addressable market, is a term used in marketing to describe the size of the market for a product or service. It’s calculated by multiplying the population of a given area by the percentage of that population that is likely to purchase the product or service.
What is the process of competitive intelligence?
Competitive intelligence defines, gathers, analyses, and distributes information regarding competitors, customers, products, and changes in the industry or environment.
What is competitive intelligence software?
Competitive Intelligence (CI) software is a type of business software that is used to collect, analyse and present information about a company’s competitors and the industry in which they operate. Here is a list of competitive intelligence software providers.
What is the purpose of a competitive analysis?
A competitive analysis can help you understand your competition, their strengths and weaknesses, and how to differentiate your business from theirs. It can also help you identify new opportunities in the market.
What is value chain analysis
Value chain analysis is a business tool that helps organisations understand how they create value for their customers. The analysis breaks down the organisation into its component parts, including primary activities (such as research and development, marketing, and sales) and support activities (such as human resources, finance, and information technology).
What is win-loss analysis?
Win loss-analysis is the process of identifying why you win, why you lose, why customers churn, and why customers decide not to decide at all. Win loss analysis improves sales, marketing, product development, and competitive strategy. The win-loss analysis is also referred to as win-loss, sales win loss, win/loss or won lost analysis. More Competitive Intelligence FAQ’s
Why is competitor analysis important?
Competitor analysis is crucial because it can help businesses understand what products and services their competitors offer, how they are priced, what marketing strategies are used, and the competitive landscape. This information help businesses make informed decisions about their products and services, pricing, marketing strategies, and competitiveness. Competitor analysis can also help companies track their marketing campaigns’ success. By comparing their website traffic or sales figures against their competitors, businesses can see which marketing strategies are working best and need improvement.
Will our competitors know that we are looking at them?
They will have no idea that you are conducting the investigations. Our clients are entirely removed from any part of the process within the range of the target.
How to find out who are my competitors and which competitors are the most important
Conduct market research, analyse your customers, conduct quality SWOT analysis, use certain online tools, ask your customers and attend industry events. More here: Who are my competitors?
