Evolution of Competitive Intelligence

The competitive landscape is shifting faster than ever, creating the need for CI to be refreshed far more frequently, and the use of novel CI techniques in order to do so cost-effectively. Competitive Intelligence has taken on substantially greater importance in the market analysis and planning arena, due to the confluence of several factors.

Emerging mega markets

The first of which is the emergence of rapidly evolving mega markets (namely Brazil, China and India) where the playing field is evolving so quickly that players must constantly update their intelligence on what competitors are doing, what their weaknesses are, what they plan to do next, etc. in order to formulate effective competitive strategy.

“Flattening”

The second key factor is the flattening of the competitive landscape. One of the implications of this mega trend (outlined in detail in Thomas Friedman’s iconic book “The World Is Flat”) is that competitors are emerging and getting to market faster than ever. Time required to complete most business processes, such as innovation, product development, production, distribution etc., has been significantly compressed. The result is a competitive landscape that is shifting faster than ever, creating the need for CI to be refreshed far more frequently, and the use of novel CI techniques in order to do so cost-effectively.

Localization

The third key factor is localization. While globalization has taken center stage over the past decade, markets continue to be very heterogeneous, and the need for localization of CI tactics and expertise has become vital.

Those factors will remain very strong drivers for the CI profession in the coming 5 years.

What are some tips on conducting Competitive Intelligence in emerging mega markets such as China?

For the answer and more, please click here to download SCIP’s interview with Nicolas Pechet from GIA Asia Pacific.