The Role of Competitive Market Intelligence Michael W Trahan 25 September 2011 It is wiser to find out than to suppose Mark Twain The Role of CMI in Economic Gardening Data does not equal knowledge its useful but unless you can take that data and use it to change or ID: 446909
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Slide1
Economic Gardening
The Role of Competitive Market Intelligence
Michael W. Trahan
25 September 2011Slide2
“It is wiser to find out than to suppose”
– Mark TwainSlide3
The Role of CMI in Economic Gardening
Data does not equal knowledge – its useful, but unless you can take that data and use it to change or validate your course of action,
regardless of the quantity you
possess, it means nothing.
The true benefit of data is when it is synthesized into knowledge.Slide4
The Role of CMI in Economic Gardening
Competitive Market Intelligence (CMI)
Competitive Market Intelligence is
an integral part of the business decision-making process and helps to achieve and maintain competitive leadership. It develops understanding, creates insight and drives action for general management and individual business function leadership (e.g., strategy, marketing, sales, technology development, finance, human resources, etc.
).
Competitive
Intelligence professionals identify competitive trends, provide early warning on threats and opportunities in the evolving competitive landscape and evaluate their impact. They help decision-makers understand the competitive implications of current and potential decisions and drive action across the company through timely, impacting
deliverables.Slide5
The Role of CMI in Economic Gardening
Market intelligence
concerns the attitudes, opinions, behavior, and needs of individuals and organizations within the context of their economic, environmental, social, and everyday activities.
Competitive intelligence
is a systematic and ethical
program
for gathering,
analyzing,
and managing any combination of Data, Information, and Knowledge concerning the Business environment in which a company operates that, when acted upon, will confer a significant Competitive advantage or enable sound decisions to be made. Its primary role is Strategic early warning.
Competitor intelligence
is a subdivision of Business intelligence that concerns the current and proposed business activities of competitors
.Slide6
The Role of CMI in Economic Gardening
Business intelligence
is now widely accepted as being concerned with Information technology solutions for transforming the output from large Data collections into Intelligence; usually through the integration of sales, marketing, servicing, and support activities. Also loosely referred to as Customer relationship management, it covers such activities as Data mining and Enterprise reporting, and the associated software. Those involved in business intelligence tend to regard it as one aspect of Knowledge management. Systems based on such software were formerly known as Executive information systems.Slide7
The Role of CMI in Economic Gardening
Any information flow and data transfer needs well designed and thoroughly established processes both system-wise and for individuals to work along well defined operational boundaries.Slide8
The Role of CMI in Economic Gardening
Competitive Market Intelligence Analysis and Techniques
“SWOT” Analysis
Porter’s Five Forces Analysis
-
Five Forces Push Back Strategies
PEST Analysis
Market Research ToolsSlide9
The Role of CMI in Economic Gardening
What are the main things that you think the company or product is better in than any given competitor?
What are the main things that you think the analyzed company is worse in than any given competitor?What are the really big threats facing the analyzed company in the analyzed environment?What are the major opportunities that are being presented to the analyzed company
?
One tool to use is the SWOT Analysis.
SWOT
analysis is otherwise also defined as a structured approach to evaluating the strategic position of a business by identifying its strengths, weaknesses, opportunities and threats.Slide10
The Role of CMI in Economic Gardening
An example of a “SWOT” ChartSlide11
The Role of CMI in Economic Gardening
Porter’s Five (5) Forces Analysis
Identifies
competitive opportunities and attractiveness in any industry or
market.
Developed by Michael
Porter (Harvard, Competitive Strategy
1980) the
so called 5 Five Forces Analysis model
helps to
better identify factors that shape the character of competition, to assess the structural attractiveness and business value of any industry and to pinpoint strengths and weaknesses in a company.
It
is designed to explain the relationship between the five dynamic forces that affect an
industry’s performance; these are the:
• intensity of competitive rivalry;
• threat from new entrants;
• threat from substitutes;
• bargaining power of buyers;
• bargaining power of suppliers.Slide12
The Role of CMI in Economic Gardening
PEST
Analysis
A
framework to identify external market factors
of potential change:
Politics
, Legislation
Governmental topics, taxation issues, environmental controls and dependencies, subsidies & quotas regulations, employment and labor laws, consumer legislations and regulations, competition issues, health & safety concerns and issues.
Economy
, Business Environment
Industry growth potentials, the various investment levels, strategies and positions, costs of raw materials and supply streams, divestments or capacity shifts at the supply base, energy availability and utility cost, transportation, logistics factors, consumer spending and its projected trend, inflation concerns and macro economic indicators, unemployment rates and other labor market indicators, disposable income, borrowing patterns, loan structures, debt signals, future prospects.Slide13
The Role of CMI in Economic Gardening
Society
Demographics shifts and changes, wealth distribution, social mobility, institutions, education, schooling, lifestyle trends, use of time, attitudes to work, leisure, relationships, family, fashion, focus and development of interests.
Technology
Innovation rates, development times, technology investments, adoption speed and product life cycles, cost reductions (deflation), return on investments, technology incentives, government investment, cross technological networking and developments.Slide14
The Role of CMI in Economic Gardening
Market Research Tools
Here
is
a few of the things a good tool provides:
How much Demand there is on the ‘Net for that product
How
much Competition you will be up against
What kind of Advertising others are using to sell that product
Who your Competitors are
How much they pay for Advertising
eBay Auction listings and bids for your product
The Keywords your competitors are using
…and much more! Slide15Slide16Slide17
The Role of CMI in Economic Gardening
QuestionsSlide18
Contact Information
Michael TrahanAlternate Axis, LLC
mwtrahan@AlternateAxis.comwww.AlternateAxis.com+1 703 302 9302