A formal program of gathering information on a company's competitors is referred to as
A) statistical modeling.
B) competitive intelligence.
C) competitive strategy.
D) quantitative forecasting.
E) qualitative matrix.

Question

Quizplus · Accepted Answer

Competitive intelligence is a systematic and formal program of gathering, analyzing, and managing external information that can affect a company's plans, decisions, and operations. It includes gathering information on a company's competitors, industry trends, regulatory issues, and other factors that can impact the company's competitive position. Statistical modeling, quantitative forecasting, and qualitative matrix are all techniques that may be used in the process of competitive intelligence, but they do not refer specifically to the program of gathering information on competitors. Competitive strategy is the overall plan or approach that a company uses to compete in a particular market, which may be informed by competitive intelligence but is not synonymous with it.

A Formal Program of Gathering Information on a Company's Competitors