Octopus Competitive Intelligence

Effective Competitor Benchmarking Determine what aspects you want to compare with your competitors: pricing, product features, marketing strategies, customer service, market share etc. Agree on relevant KPIs. Identify primary direct, indirect and pesky disruptor competitors. Don’t go for the obvious every time. Gather information from diverse sources. From websites, reports, social media, reviews and talking to them. Do a proper SWOT analysis to understand their advantages and disadvantages and identify areas where you can win. Identify their successful strategies and best practices. Assess how they position their products, engage with customers, and what they say to customers. Analyse insights to identify market gaps for you to fill. That untapped segment, features their widget lacks or new marketing channel to explore. You can’t stay updated on industry changes and competitors’ strategies if you dont keep looking and analysing. So keep doing it. Never use it just to copy what your co...

https://www.octopusintelligence.com/how-to-preserve-critical-thinking-with-new-technologies-and-mass-media-hysteria/ We are in an era where technology reigns supreme. Our ability to think critically and engage in challenging thought processes may be slipping away. Increasing reliance on technology in our lives means we must keep our thinking in check. It’s essential to reflect on the potential consequences of this dependency. This article is called how to preserve critical thinking with new technologies and mass media hysteria. It aims to explore the impact of technology on our critical thinking skills. And then offer strategies to reclaim and nurture our intellectual independence. The Rise Of Technological Dependence There’s a pervasive presence of smartphones, social media platforms. We have instant access to information. We are accustomed to quick answers and knowledge. Most due to the amount of information around surface-level knowledge. The convenience of technology has its merits...

 https://www.octopusintelligence.com/whats-sustained-competitive-advantage-in-business-strategy/ What Is Sustained Competitive Advantage In Business Strategy? In today’s highly competitive market, businesses constantly strive to outperform their rivals. One key concept that has become a cornerstone in strategic planning is the idea of a “sustained competitive advantage”. The term may sound complex, but it simply refers to a company’s ability to maintain an upper hand over its competitors for an extended period. This post will explore sustained competitive advantage and its significance in business strategy. Summary Sustained competitive advantage refers to your ability to maintain an upper hand over competitors for an extended period, achieved through durable and difficult-to-replicate advantages. These advantages can stem from superior technology, exclusive resource access, a strong brand reputation, or exceptional customer service. Incorporating sustained competitive advantage in...

Why Competitive Intelligence Is About Winning More Sales? If you’re not constantly evolving, you’re falling behind, and this brief article asks why competitive intelligence is about winning more sales. Your competitors are always looking for an edge in the market. They’re researching new ways to reach their customers and new ways to serve them better. That’s also your customers, by the way. If you’re not doing the same, you’re falling behind. Constantly evolve your business by: – Researching your industry and your competitors – Innovating your products and services – Improving your customer service – Keeping up with changes in technology If you don’t, your competition will leave you in the dust. Don’t let your competition get the best of you. Here’s how to keep your competitive edge: Know who your competitors are Keep track of their progress Understand their strengths and weaknesses so that you can take advantage of them Analyse their marketing strategies. See what they are doing right...

https://www.octopusintelligence.com/how-to-analyse-marketing-strategy-with-a-list-of-relevant-tools-and-techniques/ How To Analyse Marketing Strategy With A List Of Relevant Tools And Techniques A well-crafted marketing strategy is essential for success in the ever-evolving business world. However, having a strategy alone is not enough. Regular analysis ensures effective tactics yield desired results. This post will guide you in analysing your marketing strategy for optimal performance. Understanding Marketing Strategy Analysis Before diving into the how-to, it’s crucial to grasp what marketing strategy analysis entails. It involves assessing plans and tactics to determine effectiveness and areas for improvement. This process aligns strategies with business goals and drives desired outcomes. Marketing strategy analysis is complex yet vital for informed decision-making. It identifies what’s working and where changes can improve performance. Steps In Marketing Strategy Analysis Set Clear...