Enhancing sales and marketing effectiveness through competitive intelligence

✍ Scribed by Timothy Powell; Cynthia Allgaier

• Publisher: John Wiley and Sons
• Year: 1998
• Weight: 479 KB
• Volume: 9
• Category: Article
• ISSN: 1058-0247
• DOI: 10.1002/(sici)1520-6386(199810/12)9:4<29::aid-cir6>3.0.co;2-0

✦ Synopsis

Over 200 SCIP members worldwide involved in Sales and Marketing Intelligence (SMI) responded to a survey of current practices. The results show that median budgets are less than US$250,000, with median staffing of two people or less. Sales and Marketing Intelligence units are located primarily at the corporate or divisional level. While information on competitors is their major focus, SMI overall has a greater strategic/marketing focus than a tactical/sales focus. A variety of primary and secondary sources are used. In managing information, paper still plays an important role, though more companies are becoming "wired" for electronic networking. In analysis, competitor profiling techniques are used more than future-oriented methods. In communicating intelligence, e-mail is seen as the most effective of a range of methods used. Competitive Intelligence practitioners rate their own effectiveness generally higher in support of Marketing than in support of Sales. To succeed, CI professionals need to achieve "buy-in" and trust at both the executive and functional management levels. Lack of those, in addition to resource constraints and other concerns, create barriers to success.