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Turning competitor data into strategy: best practices in managing the competition

CHAPEL HILL, N.C., Aug. 18, 2004 -- How do market dominators manage the competition, rather than react to events in the competitive marketplace? The key to the solution is an empowered centralized formal CI structure that is supported by critical analytical tools and engages in constant communication, according to a study - Managing the Competition: Turning Competitive Intelligence into Strategy - by research firm Best Practices, LLC, online at http://www3.best-in-class.com/rr423.htm . The study conducts an in-depth investigation on how the world's most respected CI organizations collect and act upon competitor data to manage the competitive landscape.

The study reveals tactics to advance CI impact employed by world-class organizations such as: 3M Pharmaceuticals, Abbott Laboratories, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, IBM, GlaxoSmithKline , Kodak, Merck, Pfizer, Progress Energy, Roche and SAS. Specifically, some of the aspects examined by the study include:

-- Structure - Comparison of centralized and decentralized structures

-- Information gathering - Tools and processes are critical for competitive information collection

-- Communication of information and information use - Tactics used for disseminating data to key stakeholders and integrating recommendations into strategies to effectively manage the competition

The result of exclusive interviews with 27 competitive intelligence and marketing executives at 17 global companies, "Managing the Competition: Turning Competitive Intelligence into Strategy also details:

-- Performance measurement systems

-- Benchmark partner case studies

-- Comparison matrix of companies' CI operations

"During difficult economic times, excellent competitive intelligence can be the differentiating factor in the marketplace," explains Best Practices, LLC Vice President Chris James. "Companies that can successfully gather and analyze competitive information, then implement strategic decisions based on that analysis, position themselves to be ahead of the pack."

Download an online summary of "Managing the Competition: Turning Competitive Intelligence into Strategy" at http://www3.best-in-class.com/rr423.htm . For more information, contact Susan Silverstein at 919-767-9251 or at ssilverstein@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. For more information, call 919-403-0251 or visit http://www.best-in-class.com.



Best Practices, LLC
Anna Buhr, 919-767-9175
abuhr@best-in-class.com

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