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New Research Uncovers how to Build and Maintain an Effective Competitive Intelligence Group
Date:9/5/2007

CHAPEL HILL, N.C., Sept. 5 /PRNewswire/ -- While it's a relatively new function, Competitive Intelligence can have a long-lasting impact on an organization's position in the marketplace. By delivering high-impact analyses on competitors' products and operations, a high-functioning CI group can alert companies to emerging market opportunities or warn them about potential external risks.

Competitive Intelligence groups track an average of 60 products sold by competitors, according to new research by Best Practices, LLC. However, the study found the number of competitor products tracked by CI groups varies significantly between pharma and non-pharma organizations, with pharma companies tracking an average of 49 products and non-pharma firms tracking an average of 77 products.

The report, which presents data for the full benchmark class and pharmaceutical segment, is based on insights gathered from 54 companies representing more than 12 different industries. Participants included Amgen, Boeing, Eli Lilly, Fidelity Investments, IBM, Merck, Procter & Gamble, Kraft and Wyeth.

A complimentary summary of "Building & Sustaining Impactful Competitive Intelligence Organizations" is available at http://www3.best-in-class.com/rr850.htm

The comprehensive study covers everything from creating and structuring a CI group to developing high-impact CI activities and effective stakeholder relationships. The benchmarking study includes more than 500 metrics, including staffing and salary metrics. In addition to helping executives understand how to build an effective CI program, the study presents proven methods for increasing the quality and value of an existing CI group.

Some of the sample findings of the report include:

* More than half of the organizations participating in the study

established CI functions within the last five years.

* Strategic plan
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SOURCE Best Practices, LLC
Copyright©2007 PR Newswire.
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