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Essay / Research Paper Abstract
This 10 page paper considers the role of both competitive intelligence and market research, their similarities and differences and how competitive intelligence (CI) can be used as a strategic tool. After discussing the different models of CI the case of Rockwell is considered. The paper ends with consideration given to how companies need to protect themselves from intelligence gathering. The bibliography cites 20 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEcompin.rtf
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Unformatted sample text from the term paper:
may be perceived as a new buzzword popular in business. The term is often confused with market research. Market research is a well understood tool, generally seen as the gathering
of information from the market place to be used in the decision making process, from production decision through to the development of a marketing campaign and after sales service
provisions. Competitive intelligence goes further, looking at information concerning the entire competitive environment and then analysing that information (Underwood, 2001). Market research is often merely the collection and analysis of
certain pieces of information, often in an historical context, consumer behaviour, market share and consumer preferences. Competitive intelligence may use market research, but also uses other information to create information
that can be used to make a range of decisions with increased market and competitor awareness (Penoyer, 2002). The practices of competitive intelligence and market research may overlap, however, due
to the differences they may both compliment and enhance each other and increase knowledge in the organisation using them. The concept of market research, with the value its correct use
gives to an organisation, therefore, this paper will look at how competitive intelligence may be seen to compliment market research and as such provide a tool that has different value
adding characteristics. In defining competitive intelligence there are two facets, these are "The use of public sources to develop data (raw facts) on competition, competitors, and the market
environment" and "the transformation, by analysis, of that data into information (usable results) able to support business decisions" (McGonagle and Vella, 2002; 35). Therefore information gathering is only one aspect,
there is the need to turn the information into a usable information that can help with better insightful decision (Fuld, 1995). The information may be gathered from a wide
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