Competitor Profiling and Tracking

Competitors can be studied either on a single occasion or by tracking their activities at regular intervals. In practice most companies monitor the activities of their competitors, at least on an informal basis, and the decision whether to elevate this to a formal tracking study depends on the amount of change which is occurring, or is anticipated.

Tracking studies are particularly beneficial when competitive activity is in a state of rapid evolution. This can take the form of new entrants into a market or an increase in competitive aggression by established suppliers either because they wish to launch new products, increase their market share, enter new segments of a market or defend their position against predators. In such situations single occasion analyses are soon out of date.

Tracking studies not only keep the information current but also permit a continuous realignment of the competitors that are covered and the intelligence that is sought, thus ensuring a targeted output and maximum Return On Investment.