Octopus Competitive Intelligence

In a time now long behind us, Bob Dylan referred to the ‘times they are a changing “Come, Senators, Congressmen, please heed the call don’t stand in the doorways and block up the halls.” This article implores you to use competitive insight to ride the changes rather than trying to hide away As things are going, it wouldn’t seem too indulgent to borrow another slice of timeless wisdom from the Nobel Laureate “the first one now, will later be last” it has a mysterious providence to it in our world. A World where we find an increasingly tenuous grip on reality across the whole political spectrum. We find ourselves concerned with seemingly endless issues that potentially pose existential threats at a rate far more regularly than we would care to feel comfortable. Similarly, in the business world, all too often, similar concerns seem justified, and urgency of action is supplanted by cosy confidence and absence of vigour. We see this all too often in the course of our investigations, worryin...

Anyone seeking long-term, sustainable growth must be customer focused. They must connect deeply with the customer. Creating clear, actionable strategies to deliver value propositions is a crucial element of this. Supported by our competitive intelligence, we have assisted many organisations in creating value propositions for various customer segments over the years and developing clear strategies to implement them. Building world-class value propositions require several actions. This article asks how to develop world-class value propositions with competitive intelligence. Our thinking follows: 1. The first step is to gain insight It’s crucial to grasp your target customer group’s requirements thoroughly. You may either collect this data through qualitative or quantitative methods. Once you have identified your customer’s needs, you should construct a framework that includes the following: The customer segments – what are they seeking to achieve within their lives and work? What are the...

Competitor analysis is more important than ever In today’s competitive business world, staying ahead of the curve and knowing your competitors’ strategies is critical. You must perform an in-depth competitor analysis to respond appropriately and get on the front foot. Are they watching you? If not proactively managed, one of your competitors may launch a similar product to the one your R&D Department was working on just before you did. Another competitor may apply deep discounts the same week you planned to increase your prices. Any such actions by your competitors can and will go a long way towards negatively affecting your market share and brand image.  Now, unless you believe that coincidences are just that and fairies live at the bottom of your garden, it also shows that it is probable that they are conducting competitive intelligence against you.  To address such risks, companies need to consider not only their own strategic priorities and the voice of their customers...