Purpose of 1. Competitor Research

The purpose of competitor research is to gain an in-depth understanding of the competitive environment, identify competitive strengths and weaknesses, grasp competitive opportunities and threats, and develop effective competitive strategies. Specifically, competitor research can help companies achieve the following objectives:

Identify and evaluate the type, number, scale, status, characteristics, behavior and trends of competitors, and form a panoramic picture of competitors;

Analyze the strategic objectives, core competitiveness, market performance, product strategy, channel strategy, price strategy, promotion strategy, innovation ability, risk tolerance, etc. of competitors, and reveal the advantages, disadvantages and potential of competitors;

Compare the differences and similarities between oneself and competitors, determine the degree of competition and influence of competitors, find out one's own competitive advantages and disadvantages, and clarify the competitive threats and opportunities of competitors;

Predict the future trends and possible reactions of competitors, formulate corresponding countermeasures and plans, layout and occupy the market in advance, and seize opportunities and advantages.

2. Competitor Survey

The object of competitor research refers to other enterprises that provide the same or similar products or services in the same market or industry, meet the same or similar customer needs, compete for the same or similar customer groups, and affect the market share and profits of the enterprise.

Competitive positioning: Competitive positioning refers to the method by which an enterprise determines its relative position in the market and its target customers according to the advantages and disadvantages of itself and its competitors. Competitive positioning can help companies clarify their competitive objectives and competitive advantages, as well as differentiation and specialization with competitors.

Competitive strategy: Competitive strategy refers to the method of specific actions and measures developed by an enterprise to deal with competitors according to its own and competitors' strategic objectives and resource capabilities. Competitive strategies can help companies effectively use their strengths, overcome their weaknesses, seize market opportunities, and respond to market threats, thereby increasing their market share and profitability.

Competitive monitoring: Competitive monitoring refers to the continuous observation and evaluation of competitors' strategic changes, market dynamics, competitive behavior and competitive effects. Competition monitoring can help enterprises to discover the trend and threat of competitors in time, adjust their competitive strategies and actions, and evaluate their competitive effects and room for improvement.

Through the comprehensive consideration of the above three aspects, enterprises can develop a competitor response and monitoring plan in line with themselves and the market, so as to achieve the ultimate goal of competitor research, that is, to enhance their competitiveness and market position.

5. cases and experience of competitor research services from Champ Consulting

Champu Consulting is a professional strategic consulting company with many years of experience in competitor research services and rich industry knowledge. Champ Consulting offers the following types of competitor research services:

Basic competitor information research: Champu Consulting collects and organizes basic competitor information for customers, including competitor's name, address, contact information, scale, history, organizational structure, product or service, customer group, market share, financial status, etc., so that customers can understand the basic situation and background of competitors.

Competitor Strategy Analysis Research: Champu Consulting analyzes and evaluates competitors' strategic objectives, resource capabilities, market performance, competitive strategies and future development for clients, so that they can understand the strengths and weaknesses of competitors, as well as their differences and similarities.

Competitor response strategy formulation research: Shangpu Consulting formulates and recommends response strategies for customers against competitors, including competitive positioning, competitive strategies, competitive actions, and competitive effects, so that customers can effectively use their advantages and overcome their disadvantages. Seize market opportunities, respond to market threats, and increase your market share and profitability.

Competitor monitoring and feedback research: Shangpu Consulting provides customers with competitor monitoring and feedback services, including competitor's dynamic tracking, competitor's threat early warning, competitive strategy adjustment suggestions and competitive effect evaluation report, etc., so that customers can find out competitor's trends and threats in time, adjust their competitive strategies and actions, and evaluate their competitive effects and room for improvement.

Champ Consulting's competitor research service case covers multiple industries and areas, such:

E-commerce industry: Shangpu Consulting provided competitor research services for an e-commerce platform to help it identify and analyze its main competitors in the Chinese market, including Alibaba, Jingdong, Pinduoduo, etc., and formulated a competitive strategy for different competitors Differentiation and polycoking have enhanced its competitiveness and brand awareness in the Chinese market.

Education industry: Shangpu Consulting provided a competitor research service for an online education platform to help it identify and analyze its main competitors in the US market, including Coursera, Udemy, edX, etc., and formulate a homogeneous and differentiated competition strategy for different competitors, thus increasing its market share and user satisfaction in the US market.

Medical industry: Shangpu Consulting provided a medical device company with competitor research services to help it identify and analyze its main competitors in the European market, including Medtronic, Philips, GE, etc., and formulate innovative and cooperative competitive strategies for different competitors, thus improving its technical level and market influence in the European market.

The experience and methods of competitor research service of Shangpu Consulting can provide customers with professional, in-depth, comprehensive and practical competitor research reports and suggestions to help customers gain advantages and success in the fierce market competition.

Conclusion

Competitor research is an important part of corporate strategic analysis, which can help companies understand their strengths and weaknesses in the market, identify potential opportunities and threats, and develop effective competitive strategies. Competitor research requires systematic and detailed work from the five aspects of competitor definition, classification, identification, analysis and response, as well as the use of a variety of analytical tools and methods to form a clear competitor portrait and response plan. As a professional strategic consulting firm, Champu Consulting has many years of experience in competitor research services and rich industry knowledge. Shangpu Consulting can provide customers with professional, in-depth, comprehensive and practical competitor research reports and suggestions to help customers gain advantages and success in the fierce market competition.