BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The definition of competitive intelligence (CI) or competitor intelligence is the process in which a company gathers and analyzes information about its industry, business environment, competitors, and products with the goal of directing their future strategy.

Detailed explanation-2: -What Is Competitive Intelligence? Competitive intelligence, sometimes referred to as corporate intelligence, refers to the ability to gather, analyze, and use information collected on competitors, customers, and other market factors that contribute to a business’s competitive advantage.

Detailed explanation-3: -SWOT analysis is a type of competitor analysis that looks at your competition’s strengths, weaknesses, opportunities, and threats. Competitor analysis can go beyond SWOT to create new ways to increase market share.

Detailed explanation-4: -The best way to gather information about your competitors is by acting like one of their customers. Sign up for their email list so you can get an idea of how they communicate. Also, follow their blog and social media accounts and watch how they interact with their customers online.

Detailed explanation-5: -A competitive analysis is an assessment of your competitors’ products, services and sales tactics, evaluating their strengths and weaknesses relative to your own. It’s good business practice to conduct a full competitive analysis at least once a year.