Full Answer Section

Here is a brief explanation of each method:

Publicly available information: Publicly available information is a good source of information about competitors’ strategies, products, and services. However, it is important to note that some publicly available information may be biased or incomplete.

Secondary research: Secondary research can provide insights into competitor trends, industry benchmarks, and customer preferences. However, it is important to note that secondary research may not be specific to the competitor or industry that you are interested in.

Primary research: Primary research can provide the most detailed and accurate information about competitors. However, it is important to note that primary research can be time-consuming and expensive.

The best method for gathering CI will vary depending on the specific needs of the organization and the resources that are available. However, by using a combination of methods, organizations can gain a more comprehensive understanding of their competitive landscape.

Here are some examples of CI that can be gathered:

Competitor pricing strategies
Competitor marketing campaigns
Competitor product development plans
Competitor customer satisfaction levels
Competitor financial performance
Competitor strengths and weaknesses
CI can be used to inform a variety of business decisions, such as:

Product development
Marketing strategy
Pricing strategy
Sales strategy
Competitive positioning
By understanding their competitors’ strategies, strengths, and weaknesses, organizations can make better decisions about how to compete in the market.

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