Competitor research refers to the systematic analysis and evaluation of the market environment and competitive situation of the enterprise, so as to understand the basic situation, strategic intention, action plan, advantages and disadvantages, market performance, customer satisfaction, innovation ability and other aspects of the information, so as to provide the basis and guidance for the enterprise to formulate its own competitive strategy. Competitor research is an important part of market analysis, which can help companies achieve the following purposes:

Identify their own competitive advantages and disadvantages, improve their competitiveness and core competitiveness;

Discover the strategic intentions and action plans of competitors, and predict the future movements and possible reactions of competitors;

Analyze the strengths and weaknesses of competitors and market performance, find out the weaknesses and loopholes of competitors, as well as their own opportunities and threats;

Develop targeted competitive strategies, such as differentiation, focus, cost leadership, alliances, etc., to respond to competitors' challenges and threats, or to exploit competitors' weaknesses and vulnerabilities to gain market share and advantage;

Continuously track and update the dynamics of competitors, and adjust their competitive strategies in a timely manner to adapt to market changes and needs.

The competitor research mainly includes the following aspects:

Basic information of competitors, such as name, size, geographical location, historical evolution, organizational structure, management, products or services, market share, financial status, brand image, etc;

Competitor's strategic intent, such as vision, mission, goals, values, strategic direction, strategic choices, strategic priorities, etc;

Competitors' strengths and weaknesses and market performance, such as product or service quality, performance, function, innovation, differentiation, price, cost, profit, sales volume, market share, market growth rate, market penetration, market coverage, market loyalty, market satisfaction, market reputation, market influence, etc;

Competitors' customer satisfaction and innovation capabilities, such as customer needs, preferences, expectations, perceptions, satisfaction, loyalty, complaints, suggestions, feedback, participation, re-introduction, etc., as well as competitors' R & D investment, technological innovation, product innovation, Service innovation, model innovation, organizational innovation, cultural innovation, etc.

There are several main methods of competitor research:

First-hand information collection, such as direct observation, secret purchase, customer interview, employee interview, supplier interview, partner interview, industry expert interview, competitor interview, etc;

Second-hand information collection, such as competitors' official websites, social media, news reports, public reports, industry reports, market reports, professional journals, academic papers, patent literature, legal literature, policy literature, etc;

Third-hand information collection, such as third-party consulting agencies, research agencies, evaluation agencies, monitoring agencies, investigation agencies, data agencies, analysis agencies, etc.

When conducting competitor research, the following principles need to be followed:

Select suitable competitors, determine the scope and priority of competitors according to the similarity, importance, threat, opportunity and other indicators of competitors, and avoid too many or too few competitors, as well as irrelevant or unimportant competitors;

Collect effective information, determine the type, source, channel, method, time, frequency, quality, quantity and other elements of information according to the purpose and content of competitor research, and avoid invalid or outdated information, as well as missing or redundant information;

Analysis of objective data, according to the methods and tools of competitor research, the collected information to organize, summarize, classify, compare, evaluate, explain, infer and other steps, to avoid subjective or biased data, as well as data errors or ambiguity;

Formulate targeted strategies, determine their own competitive advantages and disadvantages, as well as opportunities and threats of competitors, and formulate corresponding competitive strategies, such as attack, defense, cooperation, avoidance, etc., to avoid ineffective or excessive strategies, as well as inconsistent or uncoordinated strategies;

Continuously track and update the dynamics of competitors, regularly collect, analyze and evaluate competitors' information according to market changes and needs, and adjust their competitive strategies in a timely manner to adapt to market changes and needs and avoid falling behind or losing competitiveness.

In order to demonstrate the practical application and value of competitor research, the following are some of the competitor research cases provided by Shangpu Consulting for clients:

Case 1: Provide a competitor survey for an automobile manufacturer, analyze the strategy, actions, performance, advantages and disadvantages of its competitors in the Chinese market, as well as the opportunities and threats in the Chinese market, and formulate its entry and expansion strategies for the Chinese market, Such as product positioning, product differentiation, product pricing, product distribution, product services, etc., to help it succeed in the Chinese market;

Case 2: Provide competitor research for an e-commerce platform, analyze the innovation capabilities, technological advantages, customer satisfaction, etc. of its competitors in the global market, as well as opportunities and threats in the global market, and formulate innovation and competition in the global market for it Strategies, such as technological innovation, product innovation, service innovation, model innovation, etc., help it maintain a leading position in the global market;

Case 3: Provide competitor research for a catering chain store, analyze the products, prices, services, brands, reputation, etc. of its competitors in the local market, as well as the opportunities and threats in the local market, and formulate maintenance and growth strategies for the local market, Such as product optimization, price adjustment, service improvement, brand building, word-of-mouth marketing, etc., to help it increase market share and customer loyalty in the local market.