stance of competitor profiling will allow the firm to anticipate the strategic response of their rivals to the firm's planned strategies, the strategies of other competing firms, and changes in the environment. Third, this proactive knowledge will give the firms strategic agility. Offensive strategy can be implemented more quickly in order to exploit opportunities and capitalize on strengths. Similarly, defensive strategy can be employed more deftly in order to counter the threat of rival firms from exploiting the firm's own weaknesses. Firms practising systematic and advanced competitor profiling may have a significant advantage. A comprehensive profiling capability is a core competence required for successful competition. A common technique is to create detailed profiles on each of the major competitors. These profiles give an in-depth description of the competitor's background, finances, products, markets, facilities, personnel, and strategies. This involves: Background location of offices, plants, and online presences history – key personalities, dates, events, and trends ownership, corporate governance, and organizational structure Financials P-E ratios, dividend policy, and profitability various financial ratios, liquidity, and cash flow profit growth profile; method of growth (organic or acquisitive) Products products offered, depth and breadth of product line, and product portfolio balance new products developed, new product success rate, and R&D strengths brands, the strength of brand portfolio, brand loyalty and brand awareness patents and licenses quality control conformance reverse engineering or deformulation Marketing segments served, market shares, customer base, growth rate, and customer loyalty promotional mix, promotional budgets, advertising themes, ad agency used, sales force success rate, online promotional strategy distribution channels used (direct & indirect), exclusivity agreements, alliances, and geographical coverage pricing, discounts, and allowances Facilities plant capacity, capacity utilization rate, age of plant, plant efficiency, capital investment location, shipping logistics, and product mix by plant Personnel number of employees, key employees, and skill sets strength of management, and management style compensation, benefits, and employee morale & retention rates Corporate and marketing strategies objectives, mission statement, growth plans, acquisitions, and divestitures marketing strategies Media scanning Scanning competitor's ads can reveal much about what that competitor believes about marketing and their target market. Changes in a competitor's advertising message can reveal new product offerings, new production processes, a new branding strategy, a new positioning strategy, a new segmentation strategy, line extensions and contractions, problems with previous positions, insights from recent marketing or product research, a new strategic direction, a new source of sustainable competitive advantage,