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Most Formula 1 teams can testify
that gathering intelligence on
SALES PITCH
<
direct competitors offers a distinct
strategic advantage. But keep it
above board. When confidential
Ferrari documents were found in the
possession of the McLaren team in
2007, their constructor
championship came to an end
Gathering intelligence
on direct competitors can
turn into a significant
advantage for salespeople,
according to sales expert
Dave Stein. Grainne
Rothery reports
n competitive sport, studying the opposition and their
I
strengths and weaknesses is widely accepted as a fun-
damental part of preparing to go into battle. According to
international sales expert Dave Stein, this approach is
just as relevant in a business context, with the very best
salespeople always trying to find out who their direct
competitors are and develop intelligence about them.
“Knowing your competitors and how they operate is crucial
because this knowledge can help you to predict what they will
do in various sales situations,” says Stein, who is CEO and
founder of ES Research in Massachusetts and newly appointed
visiting professor of sales and sales management at Dublin
Institute of Technology. “If you know how they are going to
behave in a given situation, you can safeguard your position with
your customer or prospect by defending yourself against that
competitor’s tactics and strategies.”
May/June ‘08 Marketing Age 51
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