Creating Competitor Profiles
In This Chapter
Profiling competitors’ marketing and innovation strategies
Using a future competitive index to see how you stack up against the competition
Forecasting how competitors are likely to act and react
Keeping an eye on the competition’s evolution (and your customers’ health)
You probably know which organizations directly and indirectly compete against you, but you may know very little if anything about their inner workings and how much of a threat they really pose to your organization. To get a better feel for who your competitors are and how formidable they may be now and in the future, create a profile for each of them, as I explain in this chapter.
Few organizations currently understand or use competitor profiling to gain information advantage and put it to use in formulating strategies. That’s their loss and your gain. By harnessing the power of profiling, you equip your organization with superior knowledge as well as predictive abilities that others simply don’t have. You also gain the ability to target your strategic initiatives. ...