Information Security of HoloStealers Pty Ltd and Smooth Electronics Inc - Essay Example

In the modern turbulent business environments, business organizations are ever in the process of improving their business processes as well as the quality of products and services to gain a competitive advantage and a high market value and share. The success of any business organization depends on the capacity to acquire a high market share, with a large number of customers who keeps the business growing and advancing. Various business organizations have been performing intensive research to produce products as well as services that are responsive to the industry's needs as well as standards. With the large number of business organizations providing similar products and sera vices, a competitor analysis has become a critical business activity. It is through a comprehensive, effective, and efficient competitor analysis that various business organizations get to understand what their competitors are doing to improve their products and services. Competitor analysis plays a critical role in providing market intelligence for competing business organizations. A business organization can leverage the activities as well as the processes of its competitors in producing more marketable and competitive products and services.

Acquiring market intelligence can be a simple task if proper tools and technologies are implemented and used for competitor analysis (Talvinen, 1995). In addition, competitor analysis can be challenging and complex if no tools and responsive technologies are used to analyze the operations, technologies, products, and services of other business organizations. To acquire the required information about business competitors, marketing information systems are some of the most powerful tools that can be used. Other tools and technologies that can be used for gathering market intelligence for a competitive advantage include communication equipment and social networking tools such as Bebo, Linked In, and Facebook. Such forums can be used to collect information about products and services being produced by other business organizations.

Marketing information systems can be used to collect all forms of business intelligence from global databases, social networking sites, blogs, corporate sites, and other authoritative sources (Suidan, 1994). With marketing information systems, competitor analysis can be done by collecting views from various customers, suppliers, and other market stakeholders who have in the past interacted with various products and services being produced by the competitors. Marketing information systems must be used for competitor analysis as they have reliable functionalities that can be used to collect data and information from various competitors based on the information on their corporate sites, blogs, and other forums such as social networking sites.

Social networking sites are also very powerful tools that can be sued to collect information about products and services from other business organizations. Groups can be created on social networking sites and various friends, corporate agents, contact persons, and other market stakeholders are invited to contribute their views, experiences, and other critical data about various products and services. The use of groups with personalized portals and profiles ensures that the business information collected from social networking sites is obtained from authoritative sources as well as through security compliance. Products can also be posted on various groups on social networking sites and comments as well as information requested from various stakeholders who have in the past interacted with various products and services.