Competitive intelligence projects are some of the most difficult due to the sensitivity of the topics/issues and the challenge of reaching and gaining participation from relevant competitor sources. Richmark conducts competitor intelligence as the primary focus of a project or as part of larger project, and over the years we have developed an excellent track record.
The graphic below illustrates our unique methodology for competitive intelligence projects:
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on Image to Enlarge
The ultimate goal of our methodology is to provide meaningful results about competitors and recommendations for how the client can increase sales, share, and profits. It is not just a data dump about competitors, which is very typical of most competitive intelligence work. We view competitor intelligence like putting together a jigsaw puzzle; one gathers pieces of information from various sources, check to make sure these pieces of information fit, and then put the pieces together to create a complete picture.
To accomplish this Richmark does the following:
- Gather competitor information on the topics/issues that are relevant to the client's objectives as well as identify/explore any new topics/issues that could be important
- Gather the same information from multiple perspectives to check and re-check the information and thereby ensure high-quality information
- Periodically discusses preliminary findings with client management to ensure that client perspective is part of the process and Richmark builds upon existing knowledge
- Staff the projects with our most senior in-house consultants, who have 2 - 5 years of business experience and are highly skilled at conducting these tough interviews
- Then apply our consulting expertise and experience to the competitor information gathered to deliver meaningful results and actionable recommendations
Richmark is a marketing consulting firm that does competitive intelligence, and because of that difference we provide results and recommendations to help client be aware of competition and stay one step ahead.
The Richmark Group • 800-889-2128