21Competitors

This chapter contains the following:

The sales organization can track and analyze the impact competitors are having on sales by recording the competitors in each opportunity. By default, the sales application requires salespeople to enter the primary competitor whenever they close an opportunity. Unless you changed that default, you must create the list of competitors to enable opportunity closing.

To create the list of competitors, you're only required to enter competitor names. However, you can track more details about each competitor the Competitors work area. You can enter company details, including its line of business, and status. You can even more information in different tabs. Here's a list:

Information You Can Enter Competitor Work Area Tab

Strengths, weaknesses, opportunities, and threat level (SWOT)

SWOT

Product groups in the sales catalog the competitor is competing against

Product Groups

Related documents

Attachments

Names of internal contacts who know the competitor

Internal Experts

Geographical regions where the competitor is active using the geography reference information you imported

Geographies

Industries where the competitor is active using the industry classifications you specified

Industries

The Opportunities tab automatically displays all of the opportunities where that competitor has been selected as the primary competitor. Access to the Competitors work area is restricted to users with the Sales Administrator job role. However, sales managers and others in the sales organization can access preconfigured reports to view the effects of the competitors entered in opportunities.

Setup Assistant and Competitors

You can create up to 15 competitors using Setup Assistant. For each competitor you can enter:

  • Name and suffix

  • Line of business

  • Threat level

  • Organization size

You must go to the Competitors work area to enter the other details.

Here's how to review the list of competitors you created using Setup Assistant, add more information, and create new ones. The names of the competitors you create are available for selection in the Edit Opportunity page.

  1. Click Navigator > Sales > Competitors.

  2. To create a new competitor:

    1. On the Review Competitors page, click Create.

    2. In the Create Competitor page, enter the competitor name in the Organization Name field.

    3. You can enter a suffix, such as Ltd. or Co., in the Name Suffix field.

      The suffix is automatically appended to the name in the application.

    4. Select a threat level. Salespeople can use the threat level to filter their competitor searches.

    5. Optionally, enter additional information about the competitor.

      Any additional information you enter is only visible in the Competitors work area. Only the competitor name is visible while selecting competitors in opportunities.

    6. Click Save and Edit.

    7. The application checks to see if any other organizations are potential duplicates. If there are existing companies with a similar name, you can choose to edit one of these instead.

    8. You can enter additional competitor information on the Edit Competitor page.

  3. To review or edit an existing competitor, click on the competitor name link.