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Today’s PSFs employ competitive intelligence sparingly, serendipitously
and passively. Many firms still misunderstand exactly what competitive
intelligence is and how it delivers a payback.
Firms are increasingly gathering competitive intelligence
data. There are growing numbers of competitive intelligence gathering
opportunities and information avenues.
- 39% of survey respondents reported they were increasing their
use of intelligence gathering as a way to become more market-driven.
- Competitive intelligence is a business-appropriate, ethical,
and focused analysis of information about competitor initiatives,
relationships, marketplace perceptions and the like.
- Competitive intelligence is becoming more sophisticated (going
beyond simple internet surfing or chasing rumors).
Case Study
Top-tier management and human resource consulting firm Towers Perrin
used competitive intelligence to refine its go-to-market strategy
for one of its flagship practices. Competitive intelligence helped
Towers Perrin to reaffirm its favorable market position with its
targeted client base, and paved the way for the firm to pursue a
larger market share than its narrowly focused competitors.
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