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Q: What is the difference between competitive intelligence and market research? A:
There is frequent confusion regarding the differentiation between market research and competitive intelligence (CI), especially since many of the techniques used -- such as questionnaires and primary source interviewing -- are used in both disciplines.
We think the basic difference is less a matter of tools and techniques and more one of focus. And, depending upon how they are defined and differentiated within an organization, at times the terms are used and meant
interchangeably. Market research is often focused on understanding various aspects of customer demand, and preferences for features, functions, and solutions. It is often conducted in the form of often discreet
studies. Whereas, CI is a systematic and ongoing process, more likely to be focused on questions of strategic direction and the determination of future intent. It is systematic nature of the underlying process of
identifying, collecting, and analyzing information from potentially numerous sources, both primary and secondary, toward a specific decision in order to develop a clear understanding of competitor plans, market trends,
and future opportunities or threats and - importantly - to asses what one's company should do in order to reduce decision risk, achieve or sustain advantage, that is at the heart of CI. No matter how you define each
activity, it is clear that both are in the least complimentary and synergistic.
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