How to do competitive analysis
How to do Competitive Analysis?
What do you need to know to solve a problem?
How to do competitive analysis by asking the right questions
Within Intelligence it’s always best to define questions. The better the question, the better the answer.
We are often asked:
- How to find competitors of a company?
- Then, what are our competitors’ weaknesses?
- Competitor price monitoring, how can we do this?
- Also, how to do competitive analysis
Firstly, to answer these questions it is advisable:
- What’s the problem?
- What’s the decision maker trying to accomplish?
- Also, what’s the goal?
- Who’s the decision maker?
- How can we limit uncertainty for the decision maker?
How to do competitive analysis is by asking the right questions.
More information here.
The Mission Impossible’s film franchise’s classic line “Your mission, should you choose to accept it” are excellent examples of providing a clear, simple understanding of what they are asking Ethan Hunt to do.
To ensure a clear understanding of your needs break the project down as follows:
The questions have to great
- Avoid a yes/no questions.
- Would a non-expert understand the question?
- Try and summarise the question in one sentence of no more than three lines.
- Make sure the question is broad enough to cover what you think you will need to cover, but narrow enough to provide a useful answer.
- Do the questions meet the decision maker’s needs?
Now move on to selecting the drivers.
Back to Intelligence project format
We are here and we want to be here. We have a problem with and we want to know what to do about.
Our mission is to
We will answer the following intelligence questions to create valuable intelligence, insight and recommendations:
Include a deadline
If this happens we will do this.
More about questions
In most industries, you are asked to be braver and solve more difficult challenges than ever before.
To ensure you are placing yourself in a strong position with your sector, company and officer is the art of asking the right questions.
You here that there’s no such thing as a stupid question, but in reality, people are not encouraged to ask a stupid question in your boardroom or on a conference call
It’s these awkward questions lead to compelling ideas. So much so it would be crazy to ignore them.
All the world’s information is at our fingertips, and because of these search engines, we are expected us to have all the answers.
Question offer you valuable time to be able to listen. To develop an understanding of a subject, problem, a business and a person etc. They can create debate, talking within the teams and customers and business relationships.
Then we unlock brilliant ideas from questions to allow your business to move on and grow. You are bringing the answers that create a lasting impression.
But being creatively brave isn’t easy. We have to be prepared to stick our neck out and keep asking why. It’s about asking the right questions – the tough questions.