Purpose of 1. Competitor Research

The purpose of competitor research is to help companies better understand their own market environment, as well as their relative strengths and weaknesses with competitors, so as to develop their own strategies and marketing strategies. Specifically, competitor research can achieve the following objectives:

Identify and leverage competitive advantage. By analyzing the strengths and weaknesses of competitors, companies can find out their core competitiveness, highlight their differentiated advantages, improve their brand awareness and reputation, and increase their market share and profit margins.

Discover and seize market opportunities. By analyzing the strategy and dynamics of competitors, companies can find opportunities such as demand gaps, consumption trends, and technological innovation in the market, adjust their products and services in a timely manner, meet and create customer needs, and seize market opportunities.

Avoiding and responding to market risk. By analyzing the threats and expectations of competitors, companies can predict possible changes, crises, challenges and other risks in the market, and formulate timely countermeasures to avoid or reduce losses and maintain market stability.

Enhance and innovate products and services. By analyzing competitors' products and services, enterprises can learn from the advantages and experience of competitors, continuously improve and innovate their products and services, improve their product quality and service level, and increase customer satisfaction and loyalty.

Content of 2. competitor research

The competitor research mainly includes the following aspects:

Basic information about the competitor. Including the competitor's name, scale, geographical location, historical evolution, organizational structure, management team, corporate culture, mission vision, values, etc.

Strategic situation of competitors. Including the competitor's goal, positioning, proposition, image, brand strategy, product strategy, price strategy, channel strategy, promotion strategy, etc.

Competitor capabilities. Including the core competitiveness of competitors, technical level, innovation ability, quality control, cost control, service level, customer relationship, personnel training, etc.

Competitor strengths and weaknesses analysis. Including the strengths and weaknesses of competitors, as well as their relative strengths and weaknesses, can be analyzed using tools such as SWOT analysis.

Competitor dynamics. Including the competitor's recent and future actions, plans, changes, development trends, etc., as well as their own impact and expectations.

Methods and procedures for 3. competitor research

There are several main methods of competitor research:

The desktop research method. That is, by collecting and analyzing publicly available information, such as competitors' official websites, social media, news reports, industry reports, market research reports, financial statements, patent applications, job advertisements, etc., to obtain information about competitors.

Field visit method. That is, by personally or entrusting a third party to the competitor's business premises, sales outlets, production bases, etc. to conduct field visits, observe and experience the competitor's products and services, and obtain the competitor's first-hand information.

Customer interview method. That is, by interviewing existing or potential customers of competitors to understand their views, evaluations, satisfaction, loyalty, needs, expectations, etc. on competitors' products and services, to obtain competitors' customer information.

Expert interview method. That is, through interviews with experts, scholars, consultants, analysts, commentators, etc. in the industry, to understand their views, evaluations, and suggestions on competitors' strategies, capabilities, strengths, weaknesses, trends, and expectations, etc., to obtain competitors' Professional information.

New product and service strategies, in order to understand the innovation ability and optimization direction of competitors, analyze the strengths and weaknesses of competitors, and provide a basis for them to develop their own product and service optimization programs. Through network search, desktop research, questionnaire survey and other methods, Shangpu Consulting conducted in-depth research and analysis on competitors' products and services, and output comprehensive competitor research reports for customers, including the characteristics, advantages, disadvantages, evaluation, satisfaction, loyalty, market share, growth rate, innovation ability and so on of competitors' products and services, as well as the future development trend and forecast of competitors' products and services, the threat and opportunity assessment of competitors' products and services, etc., put forward targeted product and service optimization suggestions for customers, and help customers improve the quality and value of their own products and services.

-A well-known domestic education and training institution commissioned Shangpu Consulting to conduct a competitor survey. The purpose is to understand the competitor's teaching model and service quality, analyze the competitor's teaching effect and customer satisfaction, and formulate its own teaching and service improvement Plan to provide a basis. Through field visits, questionnaires, interviews and other methods, Shangpu Consulting conducted systematic research and analysis on the teaching and services of competitors, and output accurate competitor research reports for customers, including the content of competitors' teaching and services., Form, method, process, quality, effect, feedback, etc, as well as the analysis of the strengths and weaknesses of competitors' teaching and services, the future improvement direction and prediction of competitors' teaching and services, the threat and opportunity assessment of competitors' teaching and services, etc., put forward targeted teaching and service improvement suggestions for customers, and help customers improve their own teaching and service level and reputation.

The above are some of the competitor research cases of Shangpu Consulting, from which we can see that competitor research is an effective market analysis method, which can help enterprises understand the competitive environment, find their own advantages and disadvantages, find out the strategy of competitive differentiation, and improve the quality and value of products and services. As a professional market analysis and consulting service organization, Shangpu Consulting has rich experience in competitor research and cases, and provides high-quality competitor research services for customers from all walks of life. to help customers achieve advantages and success in the fierce market competition.