Market Competition Intelligent

By Raul Bernardino

Introduction:

Today technologies are driving business strategies and it is also helping the company to determine or read other competitors movement, strategies, and information including their products and services information that are in the markets.

It is an important for the company to plan and it is market to be effective and efficient, including build marketing strategic to be sustained in the long run, specially use or build the intelligent systems.

The Information and Technology also able changing the way all business player to compete either it is to attack one another or to avoid the competition with share market. The information and Technology also allow us to view any information strategically, collecting necessary information, and distributing information according to the needs and demands in the timely manner.

To speed up the process of the decision making in which has based on the accurate information, companies or industries have to use tools or what is today call intelligent system.

How to design a competitive intelligent system? Any system design has to be cost effective. First of all, we have to identify the source of the information that, this intelligent system trying to collect and what vital information that we do need to have or gather. Second, the collection of the data and information from the target group or field has to be continued or use periodical methods such as collecting data from sales, customers, market research, trade, web, and etc.

The web interactive feedback from the customers about the products and services are a good method to improve the quality of the current products and services including new demands for new products. The customers, who will be giving a feedback were anonymous and they are freely to express themselves about the products. If we compare to phone interview there should be confirmed information and data, however the customer may not tell the truth.

How to assessing the competitors: There are several questions we have to answers as follows:

• What are the objectives of the competitors? To determine the objectives of the competitors the focus should be on the market share growth, technology, cash flow, serve, profitability, and services.
• What are the strategies of the competitors? To determine strategy of the competitors the focus should be on pricing, promotion, financial strategy, product quality, product feature, distribution, and etc.
• What are the strengths and weaknesses of the competitors? The focus should be on the experience, benchmark, primary and secondary data, and word of mouth, and etc.
• What are actions and reactions of the competitors? The focus should be on the mentality, value, culture, and etc.

Base on the questions above we can easily strategic the market plan and adopt to avoid attacking the competitor and do market sharing easily.

Reference list:

·        Armstrong, G. and Kotler, P. (2010) Principles of marketing,13th edition, Global edtition: Prentice Hall, Ch 18

·        Lecture notes: PRNMKT_week3_lecture

·        Competing with Information and Technology, [on-line]. Available from: http://highered.mcgraw-hill.com/sites/dl/free/0073376779/800632/Sample_Chapter.pdf  (Accessed date: July 22, 2011)