Purpose of 1. Competitor Research

The purpose of the competitor survey is to answer the following questions:

Who are our competitors? What kind of products or services do they have, how much market share do they occupy, and what kind of customer groups and channels do they have?

What is the competitor's strategy? What are their vision, mission, goals and values? What are their core competencies? What are their strategic priorities and concerns?

What are the actions of competitors? What are their organizational structures, cultures, processes, personnel, technologies, and financial conditions? What are their marketing activities, product innovations, partners, mergers and acquisitions, and social responsibilities?

What is the future trend of competitors? What are their strategic changes, market trends, opportunities and threats, potential new entrants and substitutes?

By answering these questions, companies can reap the following benefits:

Improve their own competitive awareness and sensitivity, enhance the sense of crisis and urgency, avoid blind self-confidence and satisfaction.

Understand their own strengths and weaknesses, find out their own differences and core competitiveness, and enhance their competitiveness and market position.

Discover the strategic intentions and actions of competitors, predict the future trends of competitors, formulate effective coping strategies and measures, and seize opportunities and opportunities.

Learn the advantages and experience of competitors, learn from the innovation and breakthrough of competitors, improve their own products and services, and improve their satisfaction and loyalty.

Methods of 2. competitor research

There are several main methods of competitor research:

Desktop research: Collect and analyze basic information and data about competitors using publicly available sources, such as competitors' official websites, annual reports, press releases, social media, industry reports, patent databases, etc.

Field visit: Obtain and evaluate first-hand information and feelings of competitors by observing and experiencing competitors' products or services, customers or channels, facilities or factories in person or by entrusting third-party organizations.

In-depth interviews: Through in-depth interviews with existing or former employees of competitors, suppliers, partners, customers, industry experts, etc., to understand and discuss the internal situation and external evaluation of competitors.

Web survey: Through designing and publishing online questionnaires, we conduct web surveys to competitors' target markets or potential customers to collect and analyze competitors' market needs and satisfaction.

Simulated competition: By simulating the role and behavior of competitors, participating in competitors' market activities or bidding projects, obtaining and testing competitors' market strategies and response capabilities.

Competitor research methods should be based on different purposes and circumstances, flexible selection and combination, in order to achieve the best results and efficiency.

Steps to 3. competitor research

The steps of competitor research mainly include the following stages:

Determine the scope of competitors: determine the type and number of competitors, such as direct competitors, indirect competitors, potential competitors, etc., according to their own products or services, markets or industries, regions or fields.

Set competitor indicators: according to their own strategic objectives and concerns, set the evaluation indicators and weights of competitors, such as market share, growth rate, profit margin, customer satisfaction, brand awareness, technical level, innovation ability, etc.

Collect competitor information: select and use competitor research methods to collect competitor information and data, such as strategic planning, marketing activities, product characteristics, financial status, organizational structure, human resources, etc., based on competitor indicators and scope.

Analyze the situation of competitors: according to the information and data of competitors, use the tools of competitor analysis, such as SWOT analysis, Porter's five forces analysis, value chain analysis, strategic group analysis, competitor analysis matrix, etc., to analyze the strengths and weaknesses, opportunities and threats, strategic intentions and actions, future trends, etc.

Develop competitor strategies: Based on competitor analysis, develop competitor response strategies and initiatives, such as differentiation strategies, focus strategies, leader strategies, challenger strategies, follower strategies, and adaptive strategies.

The steps of competitor research should be based on different stages and tasks, develop and implement detailed plans and processes to ensure the quality and effectiveness of competitor research.

4. Competitor Research Cases

In order to better demonstrate the practical application and value of competitor research, this paper will be combined with the specific cases of Shangpu consulting services customers, a brief introduction and analysis.

Case 1: Investigation of Competitors of an E-commerce Platform

An e-commerce platform is one of the largest online retail platforms in China, providing sales and distribution services of all kinds of goods, with hundreds of millions of users and sellers. The main competitors of the platform are the following:

An A e-commerce platform: This platform is China's largest cross-border e-commerce platform, providing direct mail and bonded area delivery services for overseas goods, with tens of millions of users and sellers. The platform's strength lies in the quality and price of its overseas goods, as well as its fast and convenient logistics services. The disadvantage of the platform lies in the relatively small variety and quantity of its goods, as well as the relatively low penetration rate of its domestic market.

A B e-commerce platform: This platform is the largest social e-commerce platform in China, providing social media-based product recommend and purchase services, with hundreds of millions of users and sellers. The strength of the platform lies in its social media traffic and influence, as well as the low price and high cost performance of its goods. The disadvantage of the platform lies in the relatively poor quality of its goods and after-sales service, as well as the relatively low loyalty and satisfaction of its users.

A C e-commerce platform: This platform is the largest fresh e-commerce platform in China, providing sales and distribution services for all kinds of fresh goods, with tens of millions of users and sellers. The strength of the platform lies in the freshness and quality of its fresh goods, as well as its fast and on-time delivery service. The disadvantage of the platform is that the shelf life and inventory management of its fresh goods are relatively difficult, and its operating costs and risks are relatively high.

In order to improve its competitiveness and market share, an e-commerce platform commissioned Shangpu Consulting to conduct a competitor survey, mainly using the following methods:

Desktop research: By collecting and analyzing competitors' official websites, annual reports, press releases, social media, industry reports, patent databases and other public information, understand competitors' basic information and data, such as market share, growth rate, profit margin, customer satisfaction, brand awareness, technical level, innovation ability, etc.

Field visit: Obtain and evaluate first-hand information and feelings of competitors, such as product characteristics, service quality, customer feedback, channel efficiency, facility conditions, factory size, etc., by observing and experiencing competitors' goods or services, customers or channels, facilities or factories in person or by entrusting third-party organizations.

In-depth interviews: Through in-depth interviews with existing or former employees, suppliers, partners, customers, industry experts, etc. of competitors, understand and discuss the internal situation and external evaluation of competitors, such as strategic planning, market activities, organizational structure, Cultural atmosphere, human resources, financial status, cooperative relationship, competitive attitude, etc.

Network survey: by designing and publishing online questionnaires, network surveys are conducted to competitors' target markets or potential customers to collect and analyze competitors' market needs and satisfaction, such as purchase intention, purchase frequency, purchase amount, purchase channels, purchase motivation, purchase obstacles, purchase experience, purchase suggestions, etc.

Simulated competition: By simulating the role and behavior of competitors, participating in competitors' market activities or bidding projects, obtaining and testing competitors' market strategies and response capabilities, such as promotional strategies, pricing strategies, distribution strategies, advertising strategies, product strategies, service strategies, competitive strategies, etc.

Based on the competitor information and data collected and analyzed, Shangpu Consulting has used SWOT analysis, Porter's Five Forces analysis, value chain analysis, strategic group analysis, competitor analysis matrix and other tools to analyze the strengths and weaknesses, opportunities and threats, strategic intentions and actions, future trends, etc. of competitors, and has formulated the following competitor response strategies and measures:

For a certain A e-commerce platform, take differentiation strategy, highlight the advantages of their own types and quantities of goods, provide more choices and convenience to customers, while strengthening their own overseas goods procurement and sales, improve their own cross-border e-commerce capabilities and levels, to seize the market share of overseas goods.

For a certain B e-commerce platform, adopt a focusing strategy, focus on their own target market and customer groups, provide higher product quality and after-sales service, improve their own brand image and reputation, and at the same time strengthen their own social media operations and promotion to improve The influence and attractiveness of its own social e-commerce, seizing social media traffic and users.

For a C e-commerce platform, take the leadership strategy to maintain their own advantages of goods and services, provide faster delivery speed and lower delivery costs, improve their customer satisfaction and loyalty, while strengthening their own fresh goods supply chain and inventory management, improve their own fresh e-commerce efficiency and effectiveness, to seize the market share of fresh goods.

Through the competitor research of Shangpu Consulting, an e-commerce platform not only understands its own advantages and disadvantages in the market, discovers the strategic intentions and actions of competitors, predicts the future trends of competitors, but also formulates effective coping strategies and measures to improve its competitiveness and market position, and achieve its own strategic goals.

Case 2: A competitor survey of a financial services company.

A financial services company is one of the largest Internet financial services companies in China, providing various financial products and services, such as loans, wealth management, insurance, payment, credit cards, etc., with hundreds of millions of users and partners. The company's main competitors are the following:

A D financial services company: The company is one of the largest banking financial services companies in China, providing various financial products and services, such as deposits, loans, wealth management, insurance, payments, credit cards, etc., with hundreds of millions of users and partners. The company's strength lies in the abundance and stability of its financial resources, as well as the safety and reliability of its financial services. The company's disadvantage lies in the relatively low innovation and flexibility of its financial products and services, and the relatively high cost and efficiency of its financial services.

An E financial services company: The company is one of the largest Internet giants in China, providing various financial products and services, such as payment, wealth management, insurance, loans, credit cards, etc., with hundreds of millions of users and partners. The company's advantage lies in its advanced and leading Internet technology, as well as the convenience and popularity of its Internet services. The company's disadvantage lies in its relatively weak control and supervision of financial risks, as well as its relatively low brand and reputation for financial services.

An F financial services company: The company is one of the largest non-bank financial institutions in China, providing various financial products and services, such as loans, wealth management, insurance, payments, credit cards, etc., with tens of millions of users and partners. The company's strength lies in the variety and individuality of its financial products and services, as well as the professionalism and caring nature of its financial services. The company's disadvantage lies in its relatively small financial scale and influence, as well as its relatively high competition and pressure in financial services.

In order to improve its competitiveness and market share, a financial services company commissioned Shangpu Consulting to conduct a competitor survey, mainly using the following methods:

Desktop research: By collecting and analyzing competitors' official websites, annual reports, press releases, social media, industry reports, patent databases and other public information, understand competitors' basic information and data, such as market share, growth rate, profit margin, customer satisfaction, brand awareness, technical level, innovation ability, etc.

Field visit: Obtain and evaluate first-hand information and feelings of competitors, such as product characteristics, service quality, customer feedback, channel efficiency, facility conditions, factory size, etc., by observing and experiencing competitors' products or services, customers or channels, facilities or factories in person or by entrusting third-party organizations.

In-depth interviews: Through in-depth interviews with existing or former employees, suppliers, partners, customers, industry experts, etc. of competitors, understand and discuss the internal situation and external evaluation of competitors, such as strategic planning, market activities, organizational structure, Cultural atmosphere, human resources, financial status, cooperative relationship, competitive attitude, etc.

Network survey: by designing and publishing online questionnaires, network surveys are conducted to competitors' target markets or potential customers to collect and analyze competitors' market needs and satisfaction, such as purchase intention, purchase frequency, purchase amount, purchase channels, purchase motivation, purchase obstacles, purchase experience, purchase suggestions, etc.

Simulated competition: By simulating the role and behavior of competitors, participating in competitors' market activities or bidding projects, obtaining and testing competitors' market strategies and response capabilities, such as promotional strategies, pricing strategies, distribution strategies, advertising strategies, product strategies, service strategies, competitive strategies, etc.

Based on the competitor information and data collected and analyzed, Shangpu Consulting has used SWOT analysis, Porter's Five Forces analysis, value chain analysis, strategic group analysis, competitor analysis matrix and other tools to analyze the strengths and weaknesses, opportunities and threats, strategic intentions and actions, future trends, etc. of competitors, and has formulated the following competitor response strategies and measures:

For a D financial services company, take the challenger strategy, take advantage of its own Internet technology and services, provide more innovative and flexible financial products and services, reduce the cost and efficiency of its own financial services, attract and retain more users and partners, challenge the advantages and stability of its financial resources.

For a certain E financial service company, adopt the follower strategy, learn from and learn from its advanced and leading Internet technology and services, improve the level and quality of its own Internet technology and services, and at the same time strengthen its own financial risk control and supervision, and improve itself The brand and reputation of financial services follow the advantages and influence of its Internet technology.

For a certain F financial service company, adopt the adaptive strategy, provide more diverse and personalized financial products and services according to its own target market and customer group, improve the professionalism and caring of its own financial services, and at the same time strengthen its own financial scale And influence, improve the competition and pressure of its own financial services, and adapt to the advantages and differences of its financial products.

Through the competitor research of Shangpu Consulting, a financial service company not only understands its own advantages and disadvantages in the market, discovers the strategic intentions and actions of competitors, predicts the future trends of competitors, but also formulates effective coping strategies and measures to improve its competitiveness and market share, and achieve its own strategic goals.