Definition of competitive intelligence

information acquired by a market competitor about the companies with which it competes. Competitive intelligence might include pricing, advertising strategies, names of clients, technical advantages and disadvantages, market strengths and weaknesses, and so forth. Competitive intelligence may be acquired from the competitor's customers (current and former), suppliers, former employees, stockholder meetings, industry associations and trade shows, trade journals, newspaper articles, research studies, or advertising copy. When gathering intelligence, the marketer must be careful to avoid unethical or illegal methods such as using a job interview or bribery to elicit information from a competitor's employee. The marketer's sales force is usually a prime source of competitive intelligence and should be trained to recognize and report this information. Competitive intelligence can be purchased from companies such as ACNielsen and Market Research Corporation Of America.