competitive intelligence

  

Definition

Continuous process of monitoring a firm's industry or market to identify (1) current and future competitors, (2) their current and announced activities, (3) how their actions will affect the firm, and (4) how to respond. It differs from industrial espionage in that it uses legal and ethical means to gather and sift the publicly available information.

Use this term in a sentence

  • Based on our current competitive intelligence, there is a new company in Oregon that could take a significant portion of our costumer base, so we may need to lower our prices in that area.

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  • MIcrosoft's competitive intelligence has allowed it to maintain its industry domination and general good name through savvy and generous purchases of possible competitors.

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  • You should try to have as much competitive intelligence on your side as possible to keep your business ahead of the pack.

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