What is Competitive Intelligence?

Question

Accepted Answer

Competitive Intelligence is the process of gathering and analyzing information about competitors and the market to make informed business decisions.

It involves collecting data on competitors' products, pricing, marketing strategies, and strengths and weaknesses.
The information gathered is used to identify opportunities and threats in the market.
Competitive Intelligence helps businesses stay ahead of the competition by providing insights into market trends and customer preferences.
Examples of Competitive Intelligence tools include SWOT analysis, market research, and social media monitoring.
It is important to ensure that Competitive Intelligence is gathered ethically and legally to avoid any legal or ethical issues.

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