Definition and purpose of 1. competitor analysis

Competitor analysis refers to the systematic collection, collation, analysis and evaluation of existing or potential competitors in the market environment in which an enterprise operates in order to understand the strategies, capabilities, strengths, weaknesses, trends and threats of competitors, so as to formulate effective competitive strategies and countermeasures. Competitor analysis is an important part of enterprise strategic management, and it is also one of the basic work of enterprise marketing.

The purpose of competitor analysis is to improve the competitive advantage of enterprises, enhance their market position, resist competitive risks and create competitive opportunities. Specifically, competitor analysis can help companies:

Understand the competitive landscape and competitive forces of the market and determine their competitive position and competitive advantage;

Identify 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, discover the weaknesses and loopholes of competitors, and look for the differentiation and innovation of competitors;

Formulate targeted competition strategies and countermeasures to improve their competitiveness and market share, and seize market opportunities and competitive heights;

Learn from the successful experience and lessons of competitors, learn from the excellent practices and innovative ideas of competitors, and improve their management level and core competitiveness.

Methods and procedures for 2. competitor analysis

The methods of competitor analysis include: competitor identification, competitor characterization, competitor strategy analysis, competitor reaction analysis, and competitor prediction. These methods can be carried out as follows:

The first step is competitor identification. The purpose of this step is to determine the existing or potential competitors facing the enterprise and the degree of competitive threat they pose to the enterprise. Competitor identification can be carried out from the following aspects:

Market scope: according to the market area, region, segmentation and objectives of the enterprise, to determine the competitors who have direct or indirect competition with the enterprise;

Product category: according to the type, function, quality, price and form of the products or services provided by the enterprise, determine the competitors that have an alternative or complementary relationship with the enterprise;

Customer needs: according to the needs, preferences, value and satisfaction of the customers met by the enterprise, to determine the competitors with the same or similar needs groups;

Resource capacity: according to the resources, technology, talents, funds and channels owned by the enterprise, determine the competitors with similar or different resource advantages with the enterprise;

Strategic objectives: according to the strategic vision, mission, objectives and direction pursued by the enterprise, identify competitors with common or conflicting strategic interests.

The second step is competitor characterization. The purpose of this step is to understand the basic situation of the competitor, including the competitor's historical background, organizational structure, business conditions, market performance, product characteristics, customer groups, resource allocation, financial situation, etc. The analysis of the characteristics of competitors can be carried out from the following aspects:

Scale and growth: analyze the scale, growth rate, market share, profitability, cost efficiency and other indicators of competitors, and evaluate the market position and competitiveness of competitors;

Strengths and weaknesses: analyze the strengths, weaknesses, opportunities, threats and other factors of competitors, and evaluate the competitive strengths and weaknesses of competitors;

Products and services: analyze the type, function, quality, price, form, innovation, differentiation and other characteristics of competitors' products or services, and evaluate the competitiveness and attractiveness of competitors' products or services;

Customers and markets: analyze the needs, preferences, value, satisfaction, loyalty, distribution, scale, growth and other characteristics of competitors' customers or markets, and evaluate the potential and stability of competitors' customers or markets;

Resources and capabilities: analyze the type, quantity, quality, distribution, utilization, coordination, integration and other characteristics of competitors' resources or capabilities, and evaluate the strengths and weaknesses of competitors' resources or capabilities.

The third step, competitor strategy analysis. The purpose of this step is to understand the competitor's strategic intent and action plan, including the competitor's strategic objectives, strategic choices, strategic implementation, strategic assessment, etc. The strategic analysis of competitors can be carried out from the following aspects:

Strategic objectives: analyze the strategic vision, mission, objectives and direction of competitors, and evaluate the strategic positioning and direction of competitors;

Strategic choice: analysis of competitors' strategic options, priorities, rationale and logic, and assessment of competitors' strategic rationality and effectiveness;

Strategy implementation: analyze the strategic actions, measures, resources, organization, collaboration and communication of competitors, and evaluate the strategic execution and coordination of competitors;

Strategic evaluation: Analyze competitors' strategic results, impacts, feedback and adjustments, and evaluate competitors' strategic performance and room for improvement.

The fourth step, competitor reaction analysis. The purpose of this step is to understand the competitor's reaction pattern and reaction ability, including the competitor's reaction trigger point, reaction speed, reaction intensity, reaction range, reaction effect, etc. The reaction analysis of competitors can be carried out from the following aspects:

Reaction trigger point: analysis of what competitive behavior or changes in competition will react to, and assessment of competitors' reaction sensitivity and thresholds;

Reaction speed: analyze how long competitors will react after discovering competitive behavior or changes in competition, and evaluate the speed and timeliness of competitors' reactions;

Response intensity: analyze the strength, scale, frequency and continuity of the competitor's response behavior or measures, and evaluate the competitor's response strength and determination;

Response scope: analyze the coverage, influence, diffusion and dissemination of competitor's response behavior or measures, and evaluate the response scope and influence of competitors;

Response effectiveness: Analyze the results, benefits, costs, and risks of a competitor's response behavior or measures, and assess the effectiveness and efficiency of a competitor's response.

Step 5, competitor prediction. The purpose of this step is to predict the future movements and possible reactions of competitors, including their future strategies, future actions, future reactions, etc. Competitor predictions can be made in the following ways:

Future strategy: predict the future strategic objectives, strategic choices, strategic implementation, strategic evaluation, etc. of competitors, and evaluate the future strategic changes and trends of competitors;

Future action: predict the competitor's future action plan, action measures, action resources, action organization, action collaboration and action communication, etc., and evaluate the possibility and feasibility of the competitor's future action;

Future reaction: predict the competitor's future reaction trigger point, reaction speed, reaction intensity, reaction range, reaction effect, etc., and evaluate the competitor's future reaction mode and ability.

Cases and implications of 3. competitor analysis

The cases of competitor analysis mainly related to: the competitor analysis service provided by Shangpu Consulting for an automobile manufacturer, the competitor analysis service provided by Shangpu Consulting for an e-commerce platform, and the competitor analysis service provided by Shangpu Consulting for a medical device company. These cases demonstrate the expertise and experience of Champ Consulting, as well as the practical value and application of competitor analysis.

Case 1: A competitor analysis service provided by Champ Consulting for an automaker. The automaker is a leading global premium car brand and faces stiff competition from other premium car brands and emerging electric car brands. Champ Consulting provided the automaker with the following competitor analysis services:

Identifies the automaker's major competitors, including other high-end car brands and emerging electric car brands, as well as their market shares, growth rates, competitive threats, etc;

The characteristics of the main competitors of the automobile manufacturer are analyzed, including their product characteristics, customer groups, resource allocation, financial status, advantages and disadvantages, etc;

The strategies of the main competitors of the automobile manufacturer are analyzed, including their strategic objectives, strategic choices, strategic implementation, strategic evaluation, etc;

The reaction of the main competitors of the automobile manufacturer is analyzed, including their reaction trigger point, reaction speed, reaction intensity, reaction range, reaction effect, etc;

The future trends and possible reactions of the automaker's major competitors are predicted, including their future strategies, future actions, and future reactions.

Based on the results of the competitor analysis, Champ Consulting has made the following competitive strategies and recommendations for the automaker:

Adhere to high-end brand positioning, enhance brand image and brand loyalty, consolidate and expand high-end market share;

Accelerate product innovation and differentiation, improve product quality and functionality, meet and lead customer needs, and increase product competitiveness and attractiveness;

Strengthen the integration and utilization of resources, optimize resource allocation and cost structure, improve resource efficiency and efficiency, and enhance resource advantages and disadvantages;

Pay attention to the dynamics and changes of competitors, make timely and effective responses and adjustments, resist competitive risks and pressures, and seize competitive opportunities and opportunities.

Case 2: A competitor analysis service provided by Champ Consulting for an e-commerce platform. The e-commerce platform is the world's leading comprehensive e-commerce platform, facing fierce competition from other e-commerce platforms and social media platforms. Champ Consulting provides the following competitor analysis services for the e-commerce platform:

Identify the main competitors of the e-commerce platform, including other integrated e-commerce platforms and social media platforms, as well as their market share, growth rate, competitive threats, etc;

The characteristics of the main competitors of the e-commerce platform are analyzed, including their product characteristics, customer groups, resource allocation, financial status, advantages and disadvantages, etc;

Analyzed the strategy of the main competitors of the e-commerce platform, including their strategic objectives, strategic choices, strategic implementation, strategic assessment, etc;

The reactions of the main competitors of the e-commerce platform are analyzed, including their reaction trigger point, reaction speed, reaction intensity, reaction range, reaction effect, etc;

The future trends and possible reactions of the main competitors of the e-commerce platform are predicted, including their future strategies, future actions, future reactions, etc.

Based on the results of the competitor analysis, Champ Consulting made the following competitive strategies and recommendations for the e-commerce platform:

Adhere to the positioning of a comprehensive e-commerce platform, provide diversified and high-quality products and services, meet and exceed customer expectations and needs, and increase customer loyalty and stickiness;

Accelerate technological innovation and platform optimization, improve the security, stability, ease of use, intelligence and personalization of the platform, and increase the competitiveness and attractiveness of the platform;

Strengthen the management and support of partners and suppliers, optimize the supply chain and logistics, improve the efficiency and quality of services, and enhance the trust and satisfaction of partners and suppliers;

Pay attention to market changes and trends, adjust and optimize the combination and pricing of products and services in a timely manner, resist market risks and pressures, and seize market opportunities and opportunities.

Case 3: A competitor analysis service provided by Champ Consulting for a medical device company. The medical device company is a professional medical device research and development and production company, facing fierce competition from other medical device companies and medical service providers. Champ Consulting provided the medical device company with the following competitor analysis services:

Identify the medical device company's major competitors, including other medical device companies and medical service providers, as well as their market share, growth rate, competitive threats, etc;

Analyzed the characteristics of the main competitors of the medical device company, including their product characteristics, customer groups, resource allocation, financial status, advantages and disadvantages, etc;

Analyzed the strategy of the main competitors of the medical device company, including their strategic objectives, strategic choices, strategic implementation, strategic evaluation, etc;

The reactions of the main competitors of the medical device company were analyzed, including their reaction trigger point, reaction speed, reaction intensity, reaction range, reaction effect, etc;

The future trends and possible reactions of the main competitors of the medical device company are predicted, including their future strategies, future actions, future reactions, etc.

Based on the results of the competitor analysis, Champu Consulting has proposed the following competitive strategies and recommendations for the medical device company:

Adhere to the positioning of professional medical device research and development and production, improve product safety, effectiveness, innovation and differentiation, meet and lead the needs and standards of the medical market, and increase the competitiveness and value of products;

Accelerate the investment in scientific research and the transformation of results, improve the efficiency and quality of research and development, increase the patents and intellectual property rights of research and development, and enhance the advantages and disadvantages of research and development;

Strengthen market development and channel construction, optimize market distribution and coverage, improve market penetration and possession, and enhance market potential and stability;

Pay attention to the policies and regulations of the industry, comply with and adapt to the norms and requirements of the industry in a timely manner, resist industry risks and pressures, and seize industry opportunities and opportunities.