Competitor intelligence statistics provide you with information about your competitors to help you compete better in today’s competitive environment.

My last two posts have dealt with important competitor intelligence statistics that help you to answer two questions about competitors:

• Who are your major competitors?
• How much of the market do your competitors have?

Today’s post covers more competitor intelligence statistics to answer a third question:

What Are Your Competitors’
Strengths And Weaknesses?

You need to know how your competitors differ from you in:

• quality,
• price,
• service,
• payment terms,
• location and
• reputation.

How Do Your Compare?

Let’s say that one of your competitors is a medium size business that sells a product like yours, but with a special technical feature that your’s doesn’t offer. Can you still compete?

Your competitor intelligence statistics should reveal what you can offer that will enable your product to compete.

Perhaps you can provide better customer service and faster distribution. Then these become your strengths.

Completing Your
Competitive Table

I recently illustrated the process of using a table to help you easily see how you compare. You can see this table and read my post at The Effect Of Competition On Pricing Strategy.

After you complete your similar table, it’s time to determine “What characteristic best separates you from your competitors?”

I’ll help you to answer that question in my next post on Competitor Intelligence Statistics.

You can read more about pricing decisions at:
Pricing Strategy: Extenuating Circumstances

Posted 6-4-08:
Competitor Intelligence Statistics 2

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This entry was posted on Wednesday, June 4th, 2008 at 7:03 am and is filed under Marketing Research. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.