tag:blogger.com,1999:blog-860344269556202513.post1497729026916982186..comments2023-11-10T13:55:50.257-06:00Comments on Lessons in Lean: Is Comptetitive Intelligence Worth the Effort?Gregg Stockerhttp://www.blogger.com/profile/01727750230435526401noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-860344269556202513.post-25581888168947305962010-05-02T22:32:33.395-05:002010-05-02T22:32:33.395-05:00Your point is well taken, Gregg, about these innov...Your point is well taken, Gregg, about these innovative products, but they only account for a minuscule amount of new products. If you hit, the rewards are enormous, but most don't succeed. Improvements are far less risky, but satisfy customers, keep the company ahead of the competition, attract new customers, and make money.<br /><br />Customers can't always articulate what they want, but they constantly indicate it by their comments, complaints, purchases of alternative products, etc.. "All" a company has to do is pay attention to what's changing in their industry as well as with others.Unknownhttps://www.blogger.com/profile/10182315466560691287noreply@blogger.comtag:blogger.com,1999:blog-860344269556202513.post-45090305272504273782010-04-28T17:05:09.712-05:002010-04-28T17:05:09.712-05:00Thanks Ellen. When you think about it, no custome...Thanks Ellen. When you think about it, no customer ever asked for CDs, flash drives, fuel injectors, MP3/iPods, Post-Its, automatic icemakers, or even the electric light. They can only tell us what they want in terms of what we've given them in the past.<br /><br />Regards,<br />GreggGregg Stockerhttps://www.blogger.com/profile/01727750230435526401noreply@blogger.comtag:blogger.com,1999:blog-860344269556202513.post-57991645501082885802010-04-28T11:53:34.737-05:002010-04-28T11:53:34.737-05:00Hi Gregg,
I agree with you and Seena that thinkin...Hi Gregg,<br /><br />I agree with you and Seena that thinking like your customer is the way to be rather than looking in the rearview mirror and fixating on the competition.<br /><br />I find that having dialogs within the company with creative types and also outside partners helps "think like a customer" almost more than talking to the customer. After years of win loss interviews, so often their contributions help my clients retain their business through product tweaks and various customer service improvements, but not usually innovation!<br /><br />Cheers,<br /><br />Ellen Naylor<br />The Business Intelligence Source<br />http://www.thecisource.com<br /><br />PS I can recommend Seena Sharp's book "Competitive Intelligence Advantage" which provides the most thorough discussion around competitive intelligence definition you'll find anywhere!Rodgers Naylorhttps://www.blogger.com/profile/18120581652706127313noreply@blogger.comtag:blogger.com,1999:blog-860344269556202513.post-80422826507806891212010-04-27T10:39:21.605-05:002010-04-27T10:39:21.605-05:00Seena,
Excellent point about admitting that compe...Seena,<br /><br />Excellent point about admitting that competitors know more than you do. Although unintentional, focusing on the competition can easily create an organizational inferiority complex.<br /><br />Thanks for the comment.<br />GreggGregg Stockerhttps://www.blogger.com/profile/01727750230435526401noreply@blogger.comtag:blogger.com,1999:blog-860344269556202513.post-68529104929148916252010-04-26T20:40:02.489-05:002010-04-26T20:40:02.489-05:00You nailed it. Focusing on competitors indicates t...You nailed it. Focusing on competitors indicates that other companies know more about the market than your company does. Yes, you must be aware of competition; but you must be aware of ALL the elements that impact your ability to succeed. This includes suppliers, distributors, regulation, technology, industries indirectly related to yours, but mostly customers.<br /><br />Success in business is largely related to how well a company pays attention to customers and to changes in the marketplace - which competitors may not notice. <br /><br />BTW, I have an entire chapter in my new CI book on this issue - when to pay attention to competitors, but mostly why not.<br /><br />Seena Sharp<br />Author, Competitive Intelligence AdvantageUnknownhttps://www.blogger.com/profile/10182315466560691287noreply@blogger.com