Is market and competitive intelligence the same thing? Can one person be able to do both market and competitive intelligence? It depends on how we define market and competitive intelligence.
Isn’t market intelligence about understanding the market’s trends and know when the downturns or upswings happen? Market intelligence is all about identifying new emerging trends and knowing when the market is declining. This is more than just total addressable market analysis, it is about anticipating when the turns happen and reacting when it happens.
Competitive intelligence is about identifying what your competitive landscape looks like, who are the potential competitors and how to displace them.
However, by understanding the difference between the two, can we conflate both disciplines into one? Or would that be mixing oil and water together creating one giant chaotic mess? I believe the answer is collaboration and working lock-step together. Market intelligence cannot be done in a vacuum. However, competitive intelligence can be isolated, however, from a big-picture perspective, without market intelligence; competitive can be misleading. Tracking one or two competitors will not help your company growth, particularly during the downturn.
However, having your market intelligence and competitive intelligence teams work together will drive results and help companies be proactive in winning when the market is shifting.
So is your competitive and market intelligence groups the same group or different but are in lock-step with each other?
View Free, Relevant Gartner Research
Gartner's research helps you cut through the complexity and deliver the knowledge you need to make the right decisions quickly, and with confidence.Read Free Gartner Research
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes, with attribution to Gartner. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.