competitive-intelligence

Vocabulary Word

Definition

'Competitive intelligence' is a strategy used by businesses to gain an advantage. It involves understanding what other businesses are doing, analyzing their strengths and weaknesses, and using this information to make smarter decisions.

Examples in Different Contexts

In strategic planning, 'competitive intelligence' informs future moves. A strategist might suggest, 'Based on competitive intelligence, we should adjust our product launch timeline.'

Practice Scenarios

Design

Scenario:

There's a shift in design trends. We need to keep up and create designs that are more appealing to our target audience.

Response:

Perhaps we can utilize competitive intelligence to understand the emerging design trends our competitors are using. It could help shape our design philosophy.

Marketing

Scenario:

Our last marketing campaign didn't generate the expected traffic. Let's reassess our strategy.

Response:

I suggest using competitive intelligence to analyze our competitors' marketing campaigns. It could provide us with insights about what we can improve.