A SYSTEMATIC APPROACH TOWARDS COLLECTION, PROCESSING & DISTRIBUTION OF INFORMATION ABOUT COMPETITOR ACTIVITIES & CUSTOMER NEEDS IN TERMS OF PRODUCTS & SERVICES

Most of the Multi-National organizations fail to realize the right product for the right market and at the right time. They face a common problem of information collection, administration and storage from various markets. The goal of this paper is to arm various organizations with a structured process of information collection and administration about competitor activities and customer needs from various markets, which provides insight for important decision making, and hence give them a clear competitive edge. This paper made an honest effort to design tools and develop a process for information collection, processing and storage by integrating those proposed tools, from various markets. This paper also puts a considerable light on how to structure customer needs and consequently put them into new product development process. The key components of our approach are to design tools for early warning system as well as to develop a new process to collect and analyse various market data regarding products and services of the competitors.