Sometimes learning all the jargon for a new space is like learning a new language. Here we have combined some of the language present in the preceding chapters for easy access.
Competitive Intelligence: The information and analysis gathered on products, customers, competitors, and other aspects of the business environment needed to support the strategy of an organization.
Market Intelligence: Information gathered to accurately determine market opportunity, market penetration, and market development metrics.
SWOT Analysis: An analysis exercise using focused, accurate, fact-based data to evaluate the strengths, weaknesses, opportunities, and threats to your business or product.
Legacy competitors: Competitors that no longer hold the innovation leadership position, but are still large players due to wide usage.
Blue Ocean Strategy: The “simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand.”An analysis exercise using focused, accurate, fact-based data to evaluate the strengths, weaknesses, opportunities, and threats to your business or product.”
Red Ocean: A market space in which several companies have already explored and are competing heavily in (like product road mapping software).
Blue Ocean: An uncontested space, that side-steps head-to-head competition.
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