Significance and purpose of 1. competitor research

The significance of competitor research is that it can help enterprises understand their own position in the market and competitive situation, find out their own advantages and disadvantages, find out the advantages and disadvantages of competitors, so as to formulate their own competitive strategy, improve their competitiveness and market share. The purpose of competitor research is that it can provide strong support and basis for strategic decisions, such as market positioning, product development, pricing strategy, marketing strategy, channel strategy, innovation strategy, etc. Competitor research can also help companies predict the future trends and behaviors of competitors, as well as market trends, so as to prepare for response and adjustment, seize opportunities, avoid risks, and achieve sustainable development.

Difficulties and Solutions of 2. Competitor Research

Competitor research is a complex and systematic project, involving many aspects and links, which requires enterprises to invest a lot of time, energy and resources in order to achieve satisfactory results. However, in the process of conducting competitor research, enterprises often encounter the following difficulties:

(I) how to determine the research object and scope

The definition of competitors is relative. Different enterprises, different industries, different markets and different times may have different competitors. Therefore, before conducting competitor research, companies must first clarify their target markets and target customers, as well as their core competencies and differentiation advantages, so as to determine their competitive areas and scope. Then, according to the degree of relationship and influence between competitors and themselves, competitors are divided into different types such as direct competitors, indirect competitors, potential competitors and substitute competitors, and sorted and screened according to importance and urgency to determine the object and scope of research. In general, direct competitors are the most noteworthy because they are the most similar to their own products or services and most directly affect their own market share and profits. Indirect competitors are second because they are not identical to their own products or services, but they can also meet the same customer needs, thus diverting their own potential customers. Potential competitors are again, because although they have not yet entered their own market, they may become threats in the future and need to be prepared in advance. Substitute competitors are the last, because although they can replace their own products or services, they are quite different from their own products or services. Only when they have obvious advantages in price, quality, function, etc., can they have an impact on themselves.

(II) how to collect effective information and data

The sources of information and data for competitor research are diverse and can be divided into two broad categories: internal and external sources. Internal sources refer to the information and data that the enterprise already has, such as sales data, customer feedback, market research reports, etc. External sources refer to the information and data obtained by enterprises through various channels and means, such as the official websites of competitors, social media, news reports, industry associations, business databases, market research institutions, expert consultation, offline investigation, secret customers, interview employees of competitors, etc. When collecting information and data, enterprises should pay attention to the following points:

Quality and reliability of information and data. Enterprises should try their best to choose authoritative, formal and open sources of information and data, and avoid using inaccurate, outdated, false and biased information and data, so as not to affect the results of analysis and the correctness of judgment. At the same time, enterprises should verify, screen, sort and classify the collected information and data, remove the false and keep the true, and improve the effectiveness and availability of information and data.

Amount and adequacy of information and data. Enterprises should try to collect diverse, comprehensive and detailed information and data, covering all aspects and levels of competitors, such as enterprise overview, development process, strategic objectives, organizational structure, product line, market share, financial situation, marketing strategy, innovation ability, customer satisfaction, brand image, corporate culture, etc., in order to conduct in-depth analysis and evaluation of competitors. At the same time, enterprises should select appropriate information and data according to the purpose and focus of the research, and avoid collecting irrelevant, redundant and repetitive information and data, wasting time and resources.

Legitimacy and ethics of information and data. When collecting information and data, enterprises should abide by laws and regulations and business ethics, and do not use illegal, immoral and unfair means, such as theft, misappropriation, defamation, deception, threats, etc., to obtain competitors' information and data, so as to avoid legal disputes and reputation losses. At the same time, enterprises should respect the intellectual property rights and trade secrets of competitors, and do not abuse or disclose competitors' information and data, so as not to damage their reputation and image.

(III) how to analyze and evaluate competitors' strengths and strategies

Competitor research information and data is the basis for analyzing and evaluating competitors, but not the purpose. After collecting sufficient information and data, enterprises should also use appropriate methods and tools to systematically analyze and evaluate the strength and strategy of competitors, so as to obtain valuable information.Conclusionand revelation. When analyzing and evaluating competitors, enterprises should pay attention to the following points:

Objectives and rationale for analysis and evaluation. According to their own strategic objectives and competitive advantages, enterprises should determine the objectives and basis for analysis and evaluation, such as competitors' market share, cost structure, profit margin, customer loyalty, innovation ability, risk tolerance, etc., as well as their own gaps and differences. At the same time, enterprises should choose appropriate analysis and evaluation methods and tools according to the quality and quantity of their own information and data, such as SWOT analysis, Porter's five forces analysis, value chain analysis, strategic group analysis, competitive map analysis, etc., in order to improve the effectiveness and accuracy of analysis and evaluation.

angles and dimensions of analysis and evaluation. Enterprises should conduct a comprehensive analysis and evaluation of competitors from multiple angles and dimensions, such as from the macro industry environment, meso market structure, micro enterprise operation, etc., as well as from the history, current situation, future and other dimensions of competitors, in order to fully understand the characteristics and trends of competitors. At the same time, enterprises should analyze and evaluate their competitors from their own perspective, such as from their own strengths and weaknesses, opportunities and threats, strengths and weaknesses, as well as from their own goals and strategies, actions and reactions, effects and impacts, and other dimensions, in order to clarify their own position and posture.

Analyze and evaluate the results and implications. Based on the results of analysis and evaluation, enterprises should make reasonable judgments and predictions about competitors, such as their strengths and strategies, strengths and weaknesses, opportunities and threats, trends and behaviors, as well as their own impact and challenges. At the same time, enterprises should effectively adjust and improve themselves according to the enlightenment of analysis and evaluation, such as formulating or revising their own strategies and objectives, optimizing or innovating their own products and services, enhancing or consolidating their own competitiveness and advantages, etc., in order to cope with the competition and pressure of competitors.

(IV) how to develop and execute research plans and reports

Competitor research plans and reports are the guidance and summary of competitor research, an important part of competitor research, and a reflection of the results and effectiveness of competitor research. Enterprises should pay attention to the following points when formulating and implementing research plans and reports:

Develop and enforce principles and standards. Enterprises should follow the SMART principles, that is, specific (Specific), measurable (Measurable), achievable (Achievable), relevant (Relevant), time-bound (Time-bound) principles, the development and implementation of research plans and reports. At the same time, enterprises should follow the PDCA standard, that is, plan (Plan), implementation (Do), check (Check), improve (Act) standards, develop and implement research plans and reports.

The content and steps of development and implementation. Enterprises should clarify the contents and steps of the research plan and report, such as the purpose and focus of the research, the object and scope of the research, the methods and tools of the research, the time and resources of the research, the results and enlightenment of the research, and the suggestions and measures of the research. At the same time, companies should follow the content and steps developed to carry out research plans and reports in an orderly manner, such as collecting and analyzing information and data, evaluating and forecasting competitors, developing and adjusting strategies and actions, and writing and submitting reports and recommendations.

Development and implementation of monitoring and evaluation. Enterprises should establish an effective supervision and evaluation mechanism to supervise and evaluate the formulation and implementation of research plans and reports, such as setting and checking the progress and quality of research, solving and improving research problems and difficulties, summarizing and sharing research experiences and lessons, feedback and improving the effectiveness and value of research. At the same time, enterprises should continuously optimize and improve the formulation and implementation of research plans and reports according to the results of supervision and evaluation, such as revising and updating the objectives and basis of research, increasing and enriching the information and data of research, adjusting and improving the methods and tools of research, perfecting and refining the results and enlightenment of research, and improving and improving the suggestions and measures of research.

3. epilogue

Competitor research is an important part of corporate strategic management, and it is also a necessary means for companies to enhance their competitiveness and create differentiated advantages. However, competitor research is not easy. In the process of competitor research, enterprises often encounter many difficulties and problems, such as how to determine the research object and scope, how to collect effective information and data, how to analyze and evaluate the strength and strategy of competitors, how to formulate and implement research plans and reports, etc. This paper discusses the difficulties of competitor research, and puts forward some solutions and suggestions, hoping to better carry out competitor research, improve the effect and value of research, help and inspire.