Mapping Competitor Expansion Plans: A Strategic Approach

Act as a strategic business analyst and detail a comprehensive approach to identify and map out competitors' future expansion plans effectively. Start by outlining methods to gather intelligence on competitors, such as analyzing press releases, monitoring social media, and tracking patent filings. Then, explore techniques to interpret this data to reveal potential geographic or product line expansions. Suggest tools and platforms for monitoring industry trends and competitor activities. Conclude with strategies to leverage these insights to adjust your own market positioning and preemptively address potential threats. Include examples and practical steps for implementing each tactic.