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Overview

Excerpt
In this section, you will find information about Competitive Insights, including definition and the process to create a competitive insight. You will also find information about how to create Competitors within Salesforce.

Warning

Compliance / Legal Notice : One must never pro-actively ask for or accept detailed information on specific competitors. It is possible to ask/receive general info on competing price levels or terms /conditions if this helps to make a competitive offer. Always report to Solvay's Legal Department if detailed information about a competitor's offer is received or if any organized information exchange via the customer is suspected.

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Concerned profiles:

ALL

Objectives & Values

Competitive Insight : a process of registering and sharing market intelligence obtained from customers as a result of ongoing negotiations. Such info may be registered in SFDC if the source / circumstances in which the data is obtained are mentioned.

Key added value of using Competitive Insights :

Build a knowledge base on Solvay’s competitors by collecting legally compliant information
Use this knowledge base to price competitive deals, and support win rate

Managing Competitive Insights in the CRM will help you by :

Improving competitors vision
Recording all business related information and making it visible (if it’s not in SFDC it doesn’t exist)
Enriching data on competitors, their product, their production capacity, their technologies
Calculating Solvay’s market share versus competitors Market share
Bottom-up collected data with global statistics for future release challenges

Step By Step

Image Added First David searches a competitor’s name with the global search. If it does not exist yet, he goes to the competitor tab and clicks on the new button

Image Added Or, he chooses an existing competitor from the picklist and clicks on continue

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Image AddedDavid decides to create a new competitor, so he fills all the information and clicks on the Save button

Info
Competitors creation should be validated by GBU data steward concerned, by clicking on Submit for Approval

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Image AddedDavid creates a product for this new competitor using the New Competitor Product button

Info

Competitor product should be approved by GBU data steward.

Competitor Product name could be the same as the corresponding Solvay Product or the real Competitor Product name.

The Competitors products have the same hierarchy that Solvay’s Product but with only 4 levels. Each time you create a product you have to indicate the corresponding parent product.

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Image AddedDavid completes the capacity information by clicking on the New competitor capacity button.

The capacity is completed for each competitor product.

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Create a Competitive Insight

Image AddedFirst, David needs to filter all his Competitive Insight headers by clicking on the Competitive Insight tab.

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Info
The legal notice is mandatory and informs the user of what is legal or not. Please read it carefully when creating a competitive insight.

Image AddedHe then fills in the filters he wants to see : all the corresponding sales or corresponding opportunities appear

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Info
Recurrent business data appear in green Growth business data appear in blue Prospect data appear in orange

Image Added David completes the total potential information for the Solvay customer in the header.

He clicks on the Edit button to complete for each Customer/product combination the Total potential if he knows the information, and clicks on Save.

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Info
The Unit of measure is defined in is user preference (Ton or Kilo Pound)

Image AddedThen he checks the information already filled in and he can add new information for each Recurrent or Growth business by clicking on the Add Competitive Insight button.

Once David has finished completing the information, he clicks on Save. Great! David has successfully created a Competitive Insight.

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Info
He adds a competitor and a competitor Product and completes all information To remove a line, he can click on the Remove Button

Image AddedThe competitive insight is now available from the Account page…

If David wants to capture competitive info but he cannot find corresponding header, he can go to the Account page to create a new header by clicking on Generate Competitive Insight Header button.

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Image Added Sold To and Ship To fields are pre-filled, David only has to select his GBU and the product link to the competitive insight (Note that there is no restriction on the level).