Competitor research refers to the collection, analysis and evaluation of competitors' relevant information to understand the current situation, development trends, advantages and disadvantages, strategic intentions, behavior patterns, etc. of competitors, so as to provide a basis and reference for enterprises to formulate their own strategies and decisions. Competitor research is an important part of enterprise strategic management, and it is also an effective means to enhance the competitiveness and market share of enterprises.

The purpose of competitor research is the following:

Understand the basic situation of competitors, such as scale, product, market, finance, technology, etc;

Identify the strengths and weaknesses of competitors, such as brand, cost, quality, service, innovation, etc;

Analyze competitors' strategies and objectives, such as vision, mission, values, core competencies, strategic direction, strategic focus, etc;

Predict competitors' behavior and trends, such as market entry, product development, price changes, promotions, partnerships, mergers and acquisitions, etc;

Looking for their own differentiation advantages and innovation space, such as product positioning, market segmentation, channel expansion, service improvement, technological breakthrough, blue ocean creation, etc.

The process of competitor research can be divided into the following four steps:

Identify the research object, that is, select the competitors that need to be concerned, generally including direct competitors, potential competitors and substitute competitors;

Collect research information, that is, use various channels and methods to obtain relevant information of competitors, such as public information, network platform, market research, customer feedback, industry associations, expert consultation, etc;

Analysis of research information, that is, the use of various tools and models to organize, summarize, analyze and evaluate the information of competitors, such as SWOT analysis, Porter's five forces model, triangular analysis, four-grid matrix method, blue ocean strategy, etc;

Form a research report, I .e. the results of the research andConclusionPresented in the form of text, charts, data, etc., to provide reference and suggestions for corporate strategy and decision-making.

The core of competitor research is to analyze competitor information, and analyzing competitor information requires the use of tools and models. Below we will introduce the five tools of competitor research, namely: SWOT analysis, Porter's five forces model, trigonometric analysis, four-grid matrix method and blue ocean strategy. These tools can help enterprises analyze the strengths, weaknesses, opportunities, threats, competitiveness, strategies, goals, actions, etc. of competitors from different angles and levels, so as to find out their own differentiation advantages and innovation space. We will also demonstrate the effectiveness and value of these tools in conjunction with some of Champ Consulting's customer-specific cases.

SWOT analysis

SWOT analysis is a commonly used strategic analysis tool that helps companies analyze their own and competitors' strengths (Strengths), weaknesses (Weaknesses), opportunities (Opportunities) and threats (Threats) in order to develop appropriate strategies. The basic steps of SWOT analysis are as follows:

List the advantages and disadvantages of itself and competitors, such as resources, capabilities, technology, brand, quality, cost, service, etc;

List the opportunities and threats faced by itself and its competitors, such as market demand, policies and regulations, social environment, technological change, competitive situation, etc;

Draw the SWOT matrix, fill the strengths, weaknesses, opportunities and threats into the corresponding grid, forming a four-quadrant graph;

Analyze the SWOT matrix and formulate corresponding strategies according to different quadrants, such as SO strategy (use advantages to seize opportunities), ST strategy (use advantages to avoid threats), WO strategy (overcome disadvantages to seize opportunities), WT strategy (overcome disadvantages to avoid threats), etc.

The advantage of SWOT analysis is that it is easy to use and can quickly understand the situation of oneself and competitors, and provide reference for strategy formulation. The disadvantage of SWOT analysis is that it is too subjective, may ignore some important factors, and does not reflect the relationship and impact between strengths, weaknesses, opportunities and threats.

The Case of SWOT Analysis

Shangpu Consulting has provided competitor research services for a company specializing in e-commerce. The company's main competitor is an internationally renowned e-commerce platform. Using the SWOT analysis tool, Shangpu Consulting analyzed the strengths, weaknesses, opportunities and threats of itself and its competitors, and formulated corresponding strategic recommendations for the company.

Based on the results of the SWOT analysis, Champ Consulting made the following strategic recommendations for the company:

Use your own advantages, seize external opportunities, and implement SO strategies, such as: strengthen the professionalism and concentration in the field of e-commerce, and enhance your core competitiveness; use your own logistics and warehousing system to provide faster and more efficient distribution Service, increase user satisfaction and loyalty; develop innovative products and services to meet different user needs and preferences, and expand market share and income sources; reduce operating costs and risks and increase profitability and returns with the support and benefits of policies and regulations.

Use your own advantages to avoid external threats and implement ST strategies, such as: use your own customer relationships and reputation to establish and maintain user trust and loyalty, and reduce user loss and complaints; use your own innovative products and services to communicate with Competitors form differentiation and superiority, resist the pressure and challenges of competitors; use their own experience and professional team, follow up and adapt to changes in user needs and preferences in a timely manner to prevent products and services from falling behind and failing; use your own compliance and honest operations to avoid external interference and intervention, and prevent legal disputes and reputation losses.

Overcome one's own disadvantages, seize external opportunities, and implement WO strategies, such as: expanding scale and market share, increasing resources and capabilities, and improving the ability to compete with competitors; increasing capital and technology investment, accelerating R & D and marketing Speed, improve the quality and effectiveness of products and services; enhance brand awareness and influence, expand user groups and market coverage, and improve market awareness and reputation; strengthen the differentiated advantages of products and services, form core competitiveness, and increase market share and profit margins.

Overcome their own disadvantages, avoid external threats, implement WT strategy, such as: streamline organization and process, improve flexibility and efficiency, reduce operating costs and risks; focus on their own advantages and market segments, improve professionalism and depth, reduce competitive pressure and difficulty; pay attention to the personalized and emotional needs of users, improve service level and user experience, and reduce user dissatisfaction and loss; responding to industry risks and uncertainties, improving resilience and crisis management capabilities, and reducing operational difficulties and crises.

Through SWOT analysis, the company can clearly understand the situation of itself and its competitors, and provide reference and basis for its own strategy formulation. Champ Consulting's professional services have helped the company increase its competitiveness and market share, winning the trust and praise of its customers.

Porter's Five Forces Model

Porter's Five Forces Model is a classic strategic analysis tool that can help companies analyze the competitive structure and competitiveness of their industries in order to develop appropriate competitive strategies. The basic idea of Porter's five forces model is that the competition in the industry in which an enterprise is located is affected by the following five forces: competitors in the industry (Rivalry among existing competitors), potential new entrants (Threat of new entrants), substitutes or services (Threat of substitute products or services), suppliers (Bargaining power of suppliers) and buyers (Bargaining power of buyers). The basic steps of Porter's five forces model are as follows:

Analysis of competitors in the industry, I .e., assessment of the number, size, capabilities, strategies, objectives, behaviors, etc. of existing competitors in the industry, as well as the impact of these factors on competition in the industry;

Analysis of potential new entrants, I .e., assessment of industry entry and exit barriers, and the impact of these factors on industry competition;

Analysis of alternatives or services, I .e. assessment of the existence, availability, performance, price, user preferences, etc. of alternatives or services outside the industry, and the impact of these factors on competition in the industry;

Analyze suppliers, I .e., assess the number, concentration, differentiation, substitution costs, shift costs, degree of monopoly, etc. of upstream suppliers in the industry, and the impact of these factors on industry competition;

Analyze buyers, I .e., assess the number, concentration, differentiation, substitution costs, steering costs, bargaining power, etc. of downstream buyers in the industry, and the impact of these factors on industry competition.

Porter's five forces model has the advantage of being a comprehensive system that can analyze the competitive structure and competitiveness of the industry from multiple angles and dimensions and provide guidance for strategy formulation. The disadvantage of Porter's five forces model is that it is too static, may ignore the dynamic changes and innovations of the industry, and does not reflect the impact of the firm's internal resources and capabilities on competition.

The Case of Porter's Five Forces Model

Shangpu Consulting has provided competitor research services for a company specializing in education and training. The company's main competitor is a leading online education platform in China. Using the Porter Five Forces model tool, Champu Consulting analyzed the competitive structure and competitiveness of the industry in which it operates, and developed a competitive strategy for the company. Here are the results of Porter's five forces model:

Competitors in the industry: The company is in an education and training industry that has more competitors, including offline educational institutions, online educational platforms, and hybrid educational models. These competitors vary in size, capabilities, strategies, goals, behaviors, etc., but are all competing for users and revenue in the same market. Competitors in the industry have a greater impact on industry competition, making the industry competitive and complex.

Potential new entrants: The education and training industry in which the company is located has low barriers to entry, mainly including capital, technology, talent, brand, channels, etc. These factors have different effects on different education models. For example, offline education institutions need more funds and channels, while online education platforms need more technology and brands. Industry exit barriers are high, mainly including contracts, reputation, responsibility and so on. These factors make the industry more new entrants, but also more difficult to survive and develop. Potential new entrants have a moderate impact on industry competition, resulting in increased and diversified industry competition.

Substitutes or services: The education and training industry in which the company is located has fewer substitutes or services, mainly including self-study, open classes, books, videos, etc. These alternatives or services vary in their existence, availability, performance, price, user preferences, etc., but none of them can completely replace the education and training services provided by the company. Substitutes or services have less impact on industry competition, making it less competitive and stable.

Suppliers: The company is located in the education and training industry upstream suppliers more, including teachers, courses, content, platforms, equipment and so on. The number, concentration, differentiation, substitution cost, turning cost, monopoly degree, etc. of these suppliers are different, but they all have a certain impact on the education and training services provided by the company. Suppliers have a moderate impact on industry competition, making industry competition variable and uncertain.

Buyer: The company is located in the education and training industry downstream buyers more, including students, parents, enterprises, institutions and so on. These buyers vary in number, concentration, differentiation, substitution costs, steering costs, bargaining power, etc., but all have certain needs and choices for the education and training services provided by the company. Buyers have a greater influence on industry competition, making industry competition driven and constrained by buyers.

Based on the results of the Porter's Five Forces model, Champ Consulting made the following strategic recommendations for the company:

For competitors in the industry, implement differentiation strategies, such as: provide education and training services different from competitors, such as specialization, personalization, customization, etc., to meet different user needs and preferences; establish different from competitors Brand image and reputation, such as professionalism, quality, effect, etc., to enhance user awareness and trust; adopt different price strategies and promotion strategies from competitors, such as high-end, low-price, bundling, etc., to attract and retain users.

For potential new entrants, implement defensive strategies, such as: improve the industry's entry barriers, such as protecting their own technology, content, channels, etc. through patents, copyrights, contracts, etc., to prevent imitation and preemption; reduce the industry's exit barriers, such as through flexible cooperation, sharing, refund and other ways to reduce the user's exit costs and risks; increase their competitive advantage, such as through innovation, quality, service, etc. to enhance the value and attractiveness of their products and services, to prevent being replaced and eliminated.

For alternatives or services, implement offensive strategies, such as: develop your own alternatives or services, such as providing richer and more interesting education and training experiences through online and offline integration, multimedia interaction, community building, etc., to attract and retain users; cooperate or acquire other alternatives or services, such as through cooperation or acquisition with educational content providers in the form of self-study, open classes, books, videos, etc, expand the scope and content of your own products and services, increase user choice and satisfaction, and reduce your own alternative costs, such as providing free trials, coupons, points exchange, etc., to reduce the cost and risk of users using their own products and services, and increase user loyalty and stickiness.

For suppliers, implement coordination strategies, such as: establish and maintain good supplier relationships, such as through long-term cooperation, fair trade, timely payment, etc., to increase the trust and satisfaction of suppliers, and ensure the quality and stability of supply; Find and cultivate diversified suppliers, such as through market research, online search, industry associations, etc, discover and train more teachers, courses, content, platforms, equipment and other suppliers to increase the diversity and selectivity of supply; improve their bargaining power, such as by increasing their own scale, brand, quality, effect and other factors, increase their influence and attractiveness to suppliers, and reduce the cost and risk of supply.

For buyers, implement affinity strategies, such as: understanding and meeting the needs and preferences of buyers, such as collecting and analyzing the needs and preferences of buyers through questionnaires, user feedback, data analysis, etc., to provide products and services that meet the needs and preferences of buyers, and to increase the satisfaction and loyalty of buyers; Establish and maintain good buyer relationships, such as through regular communication, high-quality services, and integrity commitments, increase the buyer's trust and praise, maintain the buyer's stability and continuity, improve their bargaining power, such as by providing a unique value proposition, advantageous brand image, significant effect proof, etc., to increase their influence and attractiveness to the buyer, improve the buyer's willingness and ability to pay.

Through Porter's five forces model, the company can clearly understand the competitive structure and competitiveness of the industry in which it operates, and provide guidance and basis for the formulation of its own competitive strategy. The professional services of Shangpu Consulting have helped the company enhance its industry position and competitive advantage, and have won the trust and praise of its customers.

trigonometric analysis

Trigonometric analysis is a relatively new strategic analysis tool that helps companies analyze competitors' strategies, objectives and actions in order to develop appropriate coping strategies. The basic idea of trigonometric analysis is that the strategies, goals, and actions of competitors are interrelated and influenced.

The basic steps of trigonometric analysis are as follows:

Analyze the competitor's strategy, that is, evaluate the competitor's vision, mission, values, core competitiveness, strategic direction, strategic focus, etc., and the impact of these factors on the competitor's behavior and objectives;

Analyze the objectives of competitors, I .e. evaluate the market share, revenue, profit, cost, quality, efficiency, satisfaction and other indicators of competitors, as well as the impact of these indicators on the behavior and strategy of competitors;

Analyze the actions of competitors, I .e. evaluate the actions of competitors such as market entry, product development, price changes, promotional activities, partnerships, mergers and acquisitions, and the impact of these actions on the objectives and strategies of competitors;

Draw a triangular analysis diagram, and fill the competitor's strategy, goals and actions into the vertices of the corresponding triangle to form a triangular graph;

Analyze the triangle analysis diagram, according to the shape, size, direction, position, etc. of different triangles, judge the consistency, rationality, effectiveness, sustainability, etc. of competitors' strategies, goals and actions, so as to formulate corresponding coping strategies, such as imitation, avoidance, attack, cooperation, etc.

The advantage of triangular analysis is that it is dynamic and flexible, and can analyze the relationship and impact of competitors' strategies, objectives and actions from multiple angles and dimensions, providing a basis for strategy formulation. The disadvantage of trigonometric analysis is that it is too complex, may be difficult to obtain and analyze accurate and complete information about a competitor's strategy, objectives and actions, and does not reflect the impact of a competitor's internal resources and capabilities on competition.

The case of trigonometric analysis

Champu Consulting has provided competitor research services for a company specializing in automobile manufacturing. The company's main competitor is an internationally renowned automobile brand. Using trigonometric analysis tools, Champ Consulting analyzed the company's competitors' strategies, goals and actions, and developed a response strategy for the company. Here are the results of the trigonometric analysis:

analyze the competitor's strategy, resulting in the followingConclusionThe competitor's vision is to become the world's leading automobile brand, its mission is to provide safe, comfortable and environmentally friendly automobile products and services, its values are innovation, quality and responsibility, its core competitiveness is technology, brand and channel, its strategic direction is to expand to emerging markets and high-end markets, and its strategic focus is to develop new energy vehicles and intelligent vehicles. The impact of competitors' strategies on their behavior and goals is: competitors will continue to invest in R & D and marketing to enhance their technology and brand advantages, competitors will actively enter emerging markets and high-end markets to increase their market share and revenue, Competitors will focus on developing new energy vehicles and smart vehicles to enhance the performance and value of their products and services.

analyzing the objectives of the competitors, the followingConclusion: The competitor's market share target is to occupy more than 30% of the global automobile market, its revenue target is to reach more than US $100 billion per year, its profit target is to reach more than US $20 billion per year, its cost target is to reduce the cost by more than 10% per year, its quality target is to maintain more than 99% of the quality qualification rate per year, and its efficiency target is to improve the efficiency by more than 10% per year, its satisfaction goal is to maintain more than 90% user satisfaction every year. The impact of competitors' goals on their behavior and strategy is: competitors will take active market expansion, product innovation, price competition, promotional activities, partners, mergers and acquisitions and other actions to achieve their market share, revenue, profit and other goals; competitors will take strict quality control, cost control, efficiency improvement and other actions to achieve their quality, cost, efficiency and other goals, competitors will take actions such as quality service, user feedback, and user experience to achieve their satisfaction goals.

Analyzing the actions of competitors leads to the followingConclusionCompetitors' market entry actions are to establish or acquire more factories, sales outlets, service centers, etc. in emerging markets and high-end markets to increase their market coverage and penetration. Competitors' product development actions are to launch more new energy Vehicles and smart cars to meet different user needs and preferences. Competitors' price changes are based on different markets and users, adopt high-price strategy or low-price strategy to improve its price competitiveness and profit margin. Competitors' promotional activities are to enhance their brand awareness and influence through advertising, public relations, sponsorship, coupons, etc. Competitors' cooperative partners are to establish or strengthen cooperative relationships with other automobile brands, technology providers, distributors, government agencies, etc. to obtain more resources and support, A competitor's M & A restructuring action is the acquisition or merger of other automotive or related companies to expand their size and scope. The impact of competitors' actions on their goals and strategies is: competitors' actions can help them achieve their market share, revenue, profit and other goals, and can also support their strategy to become the world's leading automobile brand, but they may also lead to the deviation or sacrifice of their quality, cost, efficiency, satisfaction and other goals, it may also conflict with its mission and values of providing safe, comfortable and environmentally friendly automotive products and services.

Analyzing the triangulation diagram, the followingConclusion: The triangle analysis chart of competitors shows a large, flat and rightward inclined triangle, which shows that there are some problems in the consistency, rationality, effectiveness and sustainability of competitors' strategies, objectives and actions, such as low consistency between competitors' strategies and objectives, and competitors' objectives pay too much attention to market share, income, profit and other indicators, however, indicators such as quality, cost, efficiency and satisfaction are ignored, which may hinder or deviate from the realization of competitors' strategies; the rationality between competitors' strategies and actions is low, and competitors' actions pay too much attention to market expansion, product innovation, price competition, promotional activities, partners, mergers and acquisitions and other measures, while quality control, cost control, efficiency improvement, service optimization and other measures are ignored, this may lead to difficulties or risks in the implementation of competitors' strategies; the effectiveness between competitors' goals and actions is low. Although competitors' actions can help them achieve their market share, revenue, profit and other goals, they may also damage their quality, cost, efficiency, satisfaction and other goals, which may lead to the achievement of competitors' goals being offset or counteracted; the low sustainability of competitors' strategies, objectives and actions, and the imbalance and incoordination between competitors' strategies, objectives and actions may lead to the weakening or threat of competitors' long-term competitiveness and development.

Based on the results of the trigonometric analysis, Champ Consulting proposed the following strategy for the company:

According to the competitor's strategy, implement the imitation strategy, such as: learn from the competitor's vision, mission, values, core competitiveness, strategic direction, strategic focus, etc., in order to improve their own strategic level and direction, while avoiding strategic conflicts and confrontation with competitors;

Implement avoidance strategies for competitors' goals, such as avoiding direct competition with competitors in terms of market share, revenue, profit and other indicators, and focusing on improving their own quality, cost, efficiency, satisfaction and other indicators to enhance their own Competitive advantage and differentiation advantage;

Implement attack strategies against competitors' actions, such as taking advantage of the weaknesses and risks of competitors' actions, such as quality issues, cost issues, efficiency issues, service issues, etc., to carry out targeted attacks and attacks in order to weaken competitors' competitiveness and market position;

Implement cooperation strategies for competitors' triangular analysis diagrams, such as: looking for gaps and opportunities in competitors' triangular analysis diagrams, such as quality, cost, efficiency, service, etc., and establishing or strengthening cooperative relationships with competitors to achieve complementarity and win-win results.

four-lattice matrix method

The four-grid matrix method is a simple strategic analysis tool that can help companies analyze the strengths and weaknesses of their competitors and develop appropriate competitive strategies. The basic idea of the four-grid matrix method is that the strengths and weaknesses of competitors can be measured in two dimensions: importance and performance. Importance refers to the degree of influence of a certain factor on competition, such as resources, capabilities, technology, brand, quality, cost, service, etc. Performance refers to the actual level of competitors on a certain factor, such as high, medium or low. The basic steps of the four-grid matrix method are as follows:

Select the competitors and factors that need to be analyzed, such as a particular competitor and a particular factor, or multiple competitors and multiple factors;

Assess the importance and performance of competitors and factors, such as scoring or ranking competitors and factors based on market research, data analysis, expert evaluation, etc;

Draw a four-grid matrix diagram, using importance and performance as the horizontal and vertical axes, respectively, to form a four-quadrant graph, and filling competitors and factors into the corresponding quadrants, respectively, to form a four-grid matrix graph;

Analyze the four-grid matrix and formulate corresponding competitive strategies according to different quadrants. For example, the competitors and factors in the first quadrant (high importance and high performance) need to adopt defensive or imitative strategies, such as maintaining or improving their own advantages, or learning from or imitating the advantages of competitors. Competitors and factors in the second quadrant (high importance and low performance) need to adopt offensive or innovative strategies, such as using or expanding their own advantages, or creating or developing new advantages; The competitors and factors in the third quadrant (low importance and high performance) need to adopt the strategy of giving up or transferring, such as reducing or giving up their own disadvantages, or transferring or transforming their own disadvantages; The competitors and factors in the fourth quadrant (low importance and low performance), it is necessary to adopt a strategy of ignoring or waiting, such as ignoring or avoiding one's own disadvantages, or waiting or observing one's own disadvantages.

The advantage of the four-grid matrix method is simple and intuitive, which can quickly understand the strengths and weaknesses of competitors and provide reference for the formulation of competitive strategies. The disadvantage of the four-grid matrix method is that it is too rough, may ignore some details and changes, and does not reflect the impact of competitors' strategies, objectives and actions on competition.

The Case of Four Lattice Matrix Method

Champu Consulting has provided competitor research services for a company specializing in catering services. The company's main competitor is a well-known domestic fast food chain brand. Using the four-grid matrix tool, Champu Consulting analyzed the strengths and weaknesses of its competitors and developed a competitive strategy for the company. The following are the results of the four-lattice matrix method:

Select the competitors and factors that need to be analyzed, such as the company's main competitor is a fast food brand, the factors that need to be analyzed are brand, price, quality, service, innovation, channels, etc;

Analyzing the four-grid matrix diagram yields the followingConclusion: The four-grid matrix of competitors shows a concentrated distribution in the upper left corner and scattered distribution in the lower right corner, which shows that there is a large gap between the advantages and disadvantages of competitors. For example, the brand and price of competitors are their greatest advantages, and their importance and performance are very high. Defensive or imitation strategies need to be adopted, such as maintaining or improving the advantages of their own brand and price, or learn from or imitate the competitor's brand and price advantages; the competitor's innovation is its biggest disadvantage, its importance and performance are very low, need to adopt offensive or innovative strategies, such as using or expanding their own innovation advantages, or create or develop new innovation advantages; the quality and service of competitors are the second disadvantage, its importance and performance are low, it is necessary to adopt abandonment or transfer strategies, such as reducing or giving up one's own disadvantages in quality and service, or transferring or transforming one's own disadvantages in quality and service; the competitor's channel is the secondary advantage, and its importance and performance are high. It is necessary to adopt neglecting or waiting strategies, such as ignoring or avoiding the disadvantages of one's own channel, or wait or observe the disadvantages of their own channels.

Through the four-grid matrix method, the company can clearly understand the advantages and disadvantages of competitors, and provide reference and basis for its own competitive strategy. Champ Consulting's professional services have helped the company increase its competitiveness and market share, winning the trust and praise of its customers.

blue ocean strategy

The advantage of blue ocean strategy is innovation and breakthrough, which can fundamentally change the rules and pattern of competition, and bring sustainable competitive advantage and development power to enterprises. The disadvantage of the blue ocean strategy is the risk challenge, which may encounter the incomprehension and non-acceptance of users, as well as the imitation and counterattack of competitors.

The Case of Blue Ocean Strategy

Champu Consulting once provided competitor research services for a company specializing in tourism services. The company's main competitor is a well-known domestic tourism platform. Using blue ocean strategy tools, Champu Consulting analyzed the value creation and value reduction of competitors for the company, and formulated the corresponding innovation strategy for the company. Here are the results of the Blue Ocean Strategy.

Through the blue ocean strategy, the company can clearly understand the value creation and value reduction of competitors, and provide the basis and development force for its own innovation strategy. Champ Consulting's professional services have helped the company increase its competitiveness and market share, winning the trust and praise of its customers.