USE OF COMPETITIVE INTELLGENCE BY Organizations
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You arrive at work and find an urgent e-mail from the Sales and Marketing Director. She's forwarded an article from the latest architectural journal, detailing the release of "CAD/CAM Infusion", a product, similar to your CADgold, but with more advanced architectural features. The product is being released by your major competitor.
Here's the e-mail:
"We've been scooped again - this is the third time this year that we have not known about these product launches! I can't operate a Marketing Department that follows up after the news. How can we prevent this from happening again?"
It's obvious that you need to do a better job regarding business intelligence. In your own words, draft a reply 2-3 page e-mail to your colleague, focusing on strategies, tools, and technologies you would recommend to build up a knowledge base and spot trends.
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This tells about the USE OF COMPETITIVE INTELLGENCE BY Organizations
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"In the emerging economy, a firm's only advantage is its ability to leverage and utilize its knowledge."
...Larry Prusak, Executive Director - The Institute for Knowledge Management
We are living in an economy of kaleidoscopic change where the only element, which is constant, is change. The industry environment is being influenced by unexpected, multiple changes reducing the period for which organizations can hold on to a competitive advantage. Every sector of industry in every corner of the globe has been affected by this change. There are fundamental questions that all businesses must ask themselves to play a pro-active role in the competitive environment:
? What to change?
? When to change?
? How to change?
? How fast to change?
? How to ensure the capability to change?
A successful organization constantly redefines their methods of creativity and problem solving. For any high performance organization, knowledge management is the central pillar in its strategic plans. For this Marketing research plays an important role in collecting and interpreting the market information relevant to the organization.
Research is the search for and retrieval of existing or discovery of new, information for a specific purpose. Research has many categories, from medical research to literary research. Marketing research (also called consumer research) is a form of business research. It is a form of applied sociology, which concentrates on understanding the behaviors, whims and preferences, of consumers in a market-based economy. Hence marketing research is an important prerequisite to develop the marketing strategy of an Organization.
APPLICATION OF MARKETING RESEARCH TO Organization
It will be used in following manner:
1) Forecasting and business trend research
It will help in knowing the growth rate of the food ...
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