Autumn Greetings from
International Training & Management Company

Welcome to our fall newsletter. In this issue we will discuss the all important issue of Competitive Intelligence. Barry Siskind's article on Competitive Intelligence provides a starting point for developing your own CI program.

Take the CI Quiz and review the Do's and Don'ts of Mystery Shopping.

As always, we welcome your suggestions for future issues.

Barry and Barbara

Joan McKnight 1951 – 2006

It is with great sadness that we announce the passing of Joan McKnight. Joan joined our organization in 1997. Her dedication, hard work, intelligence and wit quickly earned her a place in the hearts of many of our clients and staff. She always has a smile on her face and something positive to say about everyone.

She died on October 21 st after a long and courageous battle with breast cancer. We miss her very much. There is a void in our organization that will never be filled.

What is competitive Intelligence?

Sun Tzu in his The Art of War claims that to succeed in war one should have full knowledge of one's own strengths and weaknesses and a full knowledge of one's enemy's strengths and weaknesses.

This same holds true for any company or organization wanting to remain competitive and relevant.

In the age of information a competitive intelligence strategy is as crucial to your corporate survival as a financial or marketing plan. Trade shows are the granddaddy of intelligence gathering possibilities. The article we have included in this newsletter outlines some of the basic considerations for your CI planning. Increasingly our clients are asking for assistance with their CI strategies. We hope that you will find this article helpful. If you have any questions please let us know.

Take this short quiz

Competitive Intelligence is all about spying.         Yes   No

A Competitive Intelligence strategy is only for large companies                                                                                    Yes   No

You need a Competitive Intelligence Strategy

  when your business is in crisis                             Yes   No

You can get all the Competitive Intelligence information you

  need by surfing the web                                        Yes   No

Competitive Intelligence gathering is the same as

conducting market research.                                  Yes   No

If you answered yes to any of the above, read on….

Competitive Intelligence at trade shows.

by

Barry Siskind

One of the myths of competitive intelligence is that it is nothing more than spying on the competition. We have all seen one exhibitor approach another to obtain brochures, take photographs of the booth and new products or get snippets of information from booth staff. If this were all there was to a competitive intelligence strategy, it could be left here.

However, competitive intelligence, particularly at a trade show offers you a much greater breadth of knowledge than simply what can be gleaned from a competitor's booth. Competitive intelligence can be defined as: An organized, structure information gathering process that enhances strategic decision-making.”

Here are the steps you should consider when developing your CI strategy.

•  Determine exactly what kind of information you need.

Your CI objectives emanate from your perception of business “threats”. Ask yourself, “What is the biggest threat to my organization's well-being? The answer to this will help you define a clear focus for your CI strategy.

•  Formulate specific questions.

These questions should clearly address the goals you set out in step 1. Questions that begin with, what, where, how and why, are good candidates for information gathering.

•  Create your CI team.

Often you will have various levels of your corporation attending a show. They can all form part of an effective plan since they have different levels of expertise, access to different contacts and different personalities that they bring to your table.

•  Pre-show research.

Prior to the CI mission, you need to gather pre-show information to ensure that your goals are realistic. This also will give your team of mystery shoppers valuable information of where their CI goals can be met. Start with the show's web-site where you can learn about exhibitors, visitors, association activities, media contacts, and special programs.

•  Training your team.

Your team needs to understand exactly what you expect of them. A training program focused on CI skills and mystery shopping etiquette is necessary prior to the show.

•  Collate information.

Upon returning from the show, each mystery shopper will submit a report to one central person who will begin the process of analyzing this information.

•  Reporting

Once the information is collated, it needs to be put into the hands of key decision makers in a timely fashion. This means that after a show you should be ready to report within one mouth. Also, it is helpful to report the results of your CI initiative to your CI team and your appreciation for a job well done.

The next time you choose to exhibit at a trade show or corporate event consider including a mystery shopping program to augment your CI strategy. If you do it well, you will be amazed at the benefits to your organization.

Sources to begin your Competitive Intelligence Program

There are many resources available if you are considering implementing a Competitive Intelligence Program in your organization.

Government sources, on-line databases, interviews, surveys, on-site observations., trade associations, consumer groups, competitors promotional materials, suppliers, distributors, customers, media, wire services, trade journals, newspapers, financial reports, annual reports, trade shows, conferences and International Training and Management Company.

Do's and Don'ts of Mystery Shopping

Before you undertake a mystery shopping exercise at a trade or consumer show , remember some of the basic do's and don'ts.

Don'ts

Take photographs unless you have permission

Take up booth staff's time during busy times

Block traffic at the front of the booth

Dissemble competitor's products or displays

Do's

Prepare your Mystery Shopping questions in advance

Research the show thoroughly

Train the mystery shoppers

Act professionally

Competitive Intelligence Association

Competitive Intelligence has recently emerged as a distinctive field. The Society of Competitive Intelligence Professionals located in Alexandra , Virginia is a global non – profit organization and an excellent resource. There is also a Toronto Chapter. Visit www.scip.org for more information.

Christmas Gift Giving

Consider purchasing Barry Siskind's books as Christmas gifts.

Powerful Exhibit Marketing .A perfect gift for suppliers in the trade show industry to give to their customers. This 301 page definitive guide to successful Trade Shows, Conferences and Consumer Shows has become an instant business best-seller Retail $34.95

Bumblebees Can't Fly and Eagles Must Soar. Two book package (can be purchased separately) will motivate friends on your Christmas list. Bumblebees Can't Fly contains 7 strategies for making the impossible possible and Eagles Must Soar gives the reader 7 strategies for living a life with certainty. Retail : $26.95 each. Package $45.00.

Making Contact. A step by step guide to business networking that has become a classic in many business libraries. Retail $19.95.

As our Christmas gift to our valued clients, we will be offering all of Barry Siskind's books at a 20% discount if ordered before December 1 st . Barry will also personally autograph each book. For volume sales (over 10 copies) call Barbara at 1-800-358-6079 for an added discount.

Open Seminar Program

Barry Siskind will be traveling extensively across Canada and the United States over the next 6 months . At the moment he does not have an open workshop scheduled. If you are interested in having him conduct a workshop in your facility or for your association, please call Barbara Siskind and she will try to coordinate it with one of his trips.

To add your name on our list for the next open workshop in your city, please email Barbara@siskindtraining.com and she will contact you as soon as a workshop is scheduled.

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