What is competitive intelligence?

Intelligence gathering is a widely used tool to collect information that will ultimately, improve the products or services being offered by a company. Competitive intelligence, on the other hand, is the collection of information specifically from competitors. This information may or may not be against them. Firms use competitive intelligence to gain early warnings of competitor moves and strategies, new-product launches, new or changing markets, and potential competitive strengths and weaknesses." (Kerin, Hartley, Berowitz & Rudelis,2009,)

What is the importance of competitive intelligence and analysis in modern-day marketing?

Competitive intelligence is of extreme importance in today's business environment. Every company wants to differentiate...