For the development of business strategy assignment help and tactics we select the Kudler Fine Food and importance of competitive intelligence is also analyzed in this paper.
Competitive intelligence can be defined as the way through which the firm can monitor the strategies and performance of its competitors. In this era of competition, it has become imperative for the business organizations to evaluate the doings, strategies and tactics of the competitors to present itself in much better position and attract the customers.
On the other hand our assignment heper says that , having competitive intelligence is also essential for the organizations to become one step ahead of its competitors, so that company can attain high level of customer satisfaction and ensure long term profitability in comparisons of its competitors. In regard of Kudler Fine and Food, in order to develop strategies and tactics, it is essential for the business organizations to utilize the notion of competitive intelligence. This would enable the firm to understand the ways of competitors to promote their products in the market and attract the customers.
Presently, there are lots of ways to promote and market the products of the firm and competitive intelligence permits the firm to understand all these ways and analyze, which way is using by the competitors, so that the firm can implement much better way and productive way. It is an ethical and legal practice to hit the strategies and process of competitors and present company’s product with an improved and innovative way.
By means of this process, company can analyze its nearest competitors and their products and services. The competitors of the firm are those companies who are operating in the same industry. Kudler can understand the risk available in the market due to strong and effective strategies and tactics of the competitors and implement mitigation techniques to maintain its good position.
As the firm has already an online web store, but it would also be beneficial for the firm to use social networking sties for the promotions of business and develop personal contact with the consumers. This would be a competitive advantage for the firm over its competitors and this can be done through competitive intelligence.
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