Followup to yesterday. Examples:
1) Competitor X uses 50% less expensive scent in a household chemical product. This is worth $10mm/year. You prove it. Product development makes the claim.
2) Competitor Y has moved 5% of its product marketing budget to e-business tools and you know mix of them. Your marketing group is thinking about 1% as the right number. They move to 3% and get 200% ROI. Product manager goes to glory.
3) Competitor Z is presumably 2 years behind you in bringing new product to market and you discover in fact they are 2 years ahead. Product development got it wrong. NPV of loss is $xB. That's how CI started in one organization.
4) Competitor A is developing a new way of dosing an established drug on faster timing than expected. You save the company 6-12 months on timeline by clearly proving this. New drug form takes 90% of the market and accelerates market growth. What's your take?
5) Competitor B's ad agency is on location in Arizona shooting new commercial for revised household product. This means that new ad will be on air in x weeks and you anticipate key message based on product technology knowledge from another part of the world. You adjust your ad flighting accordingly. They get no impact on market share.
Easy to have impact. Often harder to stay on top of your organization's response and results and to remind organization why it acted.