The process of gathering information about the competitive environment, including competitors’ plans, activities, and products, to improve a company’s ability to succeed is called competitive intelligence.
In today's growing economy, competitive intelligence plays a very important role in making a business successful. With competitive intelligence, companies evaluate how their competition is selling and positioning their products and thus, they take advantage of the market gaps to enhance profit margins.
The competitive intelligence is the result of a company's efforts in order to gather and analyze information about its business environment, industry, competitors, and their products.
Hence, based on such information the company goals of directing their future strategy.
To learn more about competitive intelligence here:
https://brainly.com/question/13082142
#SPJ4
