phase 1: needs definition
Running an effective Market and Competitive Intelligence program requires alignment with your company’s strategic direction. This directs the organization to focus its efforts and resources on analysis that matters. Understanding the right competitors, users, and markets will lead to better solutions.
- You have a documented Market and/or Competitive Intelligence strategy.
- You have sufficient budget dedicated to running a Market & Competitive Intelligence program.
- The objectives and goals of the Market & Competitive Intelligence program are defined.
- The objectives and goals of the Market & Competitive Intelligence program are aligned with all functional strategies.
- You routinely start with a set of hypotheses that provide direction of the Market & Competitive Intelligence program.
- The target markets, accounts, and buyers are defined and are the focus of the Market & Competitive Intelligence program.
- You have identified a list of reputable sources from which to collect insights.
- Your approach is outward-in with a focus on direct customer and competitive insights as opposed to internal assumptions.
- You utilize four lenses of discovery: broad market & competition, clients & prospects, the field, and corporate strategies.
- You utilize the output of the Market & Competitive Intelligence program to improve every functional area of your business.
- Objectives & Goals of the Market & Competitive Intelligence Program
- Defined Hypotheses
- Focus Area and Topic Definitions
- Target Markets, Accounts, Buyers
- Source List