Definition
Competitive intelligence is the systematic gathering of data and information about all aspects of competitors’ marketing and business activities for the purposes of formulating plans and strategies and making decisions.
Competitive analysis is the analysis of factors designed to answer the question: How well is a firm doing compared to its competition?
The analysis goes well beyond sales and profit figures in assessing the firm’s ratings on such factors as price, product, technical capabilities, quality, customer service, delivery, and other important factors compared to each of the major competitors.
See Also
Competition
Competitive advantage
Competitive brands
Competitive environment
References
- ^ American Marketing Association, AMA Dictionary.