Session 2 - Intelligence Gathering

Question 1

Different types of intelligence gathering and the role that PMs can play (External Intelligence)

Answer 1

EXTERNAL INTELLIGENCE
[[Technology]]
- S-curves in technology improvements
(slow progress at beginning, then speeds up then slows down) ]]
-Discontinuous technologies
Cassets on S curve, then jump with CDs then slow, then jump with MP3s then slow]]
- Dilemma zone
When new one is coming in slowly and old one is easy to use? At what point do you switch over? Risk.. Timing is really important (NETFLIX)

[[Industry]]
-Porter’s industry analysis
[[Market]]
-Competitive intelligence
-Market and customer intelligence
[[Events and trends]]
-Research projects

Question 2

Different types of intelligence gathering and the role that PMs can play (Internal Intelligence)

Answer 2

Internal intelligence

• Knowledge of product successes & failures
• Results of marketing efforts
• Financial reports on product and customers
• Awareness of necessary refinements in internal processes
• Sales team & customer service representatives
• Other organizational departements ….

Question 3

reflect upon the frameworks, questions, and competitive categories that have to be considered in terms of “competitive intelligence”

Answer 3

Process of collecting and analyzing an ongoing stream of information about the competitive environment for your product and the impact it has on a company´s ability to compete.

[[Porters five forces]]
Suppliers, potential entrants, buyers (buying power), Threat of substitutes
(Compliments)

Example: As online retail opened up to small time individuals, then big retail stores experienced a massive shift in porter’s five forces.

Est. comp. intelligence process.

• ANTICIPATEactions/reactions of specific competitors
• LEARN from successes/failures from others
• CRAFT tools/approaches for sales force/communication people

Who are the real competitors?
Direct and indirect, just because customers consider them competition doesn’t mean they ARE your competition.

(Retail stores ALL may benefit collectively from consumers being on the high street but ALL may suffer from traffic being lost to online stores. So although they are competing, by being together they are also helping each other to thrive).

Question 4

[[reflect upon the frameworks, questions, and competitive categories that have to be considered in terms of “competitive intelligence”]]

Foundation for developing competitive strategy and product positioning
Competition analysis questions :

Answer 4

-LOST/GAINED business from what competitors?
-Where/why is competition STRONGEST?
-Corporate competencies competitors ?
-Market perception, awareness level, CUSTOMER LOYALTY of competing products ?
-Are there any specific product features that are “best in class” against which your product should be BENCHMARKED?
-Are competing products a small percentage of the company’s business, or are they the main products of the company?
How important are sales to the competitors, and how much are they WILLING TO INVEST to protect these sales?

(check out table in notes and ‘what you need to know)

(Also consider STP process)