Purpose of 1. Competitor Research

The purpose of competitor research is to collect, analyze and evaluate competitor information, including:

Basic information of competitors, such as scale, region, product, service, channel, customer, brand, finance, organization, culture, etc;

The strategic direction of competitors, such as vision, mission, objectives, core values, competitive advantages, development plans, etc;

Strategic actions of competitors, such as market entry, product innovation, pricing strategy, marketing strategy, partnership, social responsibility, etc;

The strategic effects of competitors, such as market share, sales revenue, profit margin, customer satisfaction, brand awareness, word-of-mouth evaluation, etc.

Through competitor research, companies can achieve the following objectives:

Understand the market environment and competitive situation, find market opportunities and threats, and grasp market trends and changes;

Understand customer needs and preferences, identify customer pain points and demand gaps, and enhance customer value and satisfaction;

Understand their own strengths and weaknesses and competitive position, find their own strengths and weaknesses, enhance their own competitiveness and core competitiveness;

Understand the strategic intentions and actions of competitors, identify their strengths and weaknesses, and develop effective competitive strategies and responses.

Methods of 2. competitor research

There are several main methods of competitor research:

Literature analysis: through the collection and analysis of competitors' public information, such as official website, annual reports, news, media reports, industry reports, patents, papers, etc., to obtain the basic situation and strategic direction of competitors;

Field visit method: by personally or entrusting a third party to the competitor's location or market to conduct field visits, such as observing the competitor's products, services, channels, customers, brands, etc., to obtain information on the competitor's strategic actions and strategic effects;

Questionnaire survey method: through the design and distribution of questionnaires, to the competitor's customers, suppliers, partners, employees and other relevant personnel to investigate, such as asking the competitor's products, services, prices, quality, reputation, etc., to obtain the competitor's customer satisfaction and word-of-mouth evaluation and other information;

Interview access method: through interviews or interviews with the competitor's management, technical personnel, marketing personnel and other key personnel, such as discussing the competitor's vision, goals, core values, competitive advantages, development plans, etc., to obtain the competitor's strategic intent and internal situation and other information;

Steps to 3. competitor research

The main steps of competitor research are as follows:

Determine the research objectives: clarify the purpose, scope, content, standards and duration of the research, and formulate research plans and programs;

Determine the research object: according to the market segmentation, product category, geographical distribution and other criteria, select the main competitors, determine the research object and quantity;

Collect research information: select appropriate research methods according to research objectives and objects, collect relevant information of competitors, and pay attention to the source, quality and timeliness of information;

Analysis of research information: according to the research content and standards, the collected information is collated, summarized, classified, compared and evaluated, and the key information and characteristics of competitors are extracted;

Preparation of research reports: based on the results of the analysis, the preparation of competitor research reports, including research purposes, methods, processes, results,Conclusionand recommendations, etc., to form visual data charts and text descriptions.

Considerations for 4. Competitor Research

Competitor research is a complex and sensitive task that requires the following:

Abide by laws, regulations and professional ethics, and do not use illegal or unethical means to obtain competitors' information, such as theft, wiretapping, bribery, and deception;

Protect the security and confidentiality of research information, and do not disclose or abuse competitors' information, such as disclosure, forwarding, sale, use, etc;

Collect and analyze competitors' information objectively and impartially, without subjective assumptions or favoritism, such as exaggeration, belittling, distortion, misleading, etc;

Update and correct competitors' information regularly, and do not stop at outdated or wrong information, such as obsolete, invalid, changed, corrected, etc;

Flexible use of competitors' information, do not blindly imitate or exclude, such as plagiarism, follow the trend, opposition, negation, etc.

Application and value of 5. competitor research

The results of the competitor survey can provide valuable reference and guidance for the strategic decision-making of the enterprise, the specific application and value are as follows:

Competitive analysis: through the comprehensive analysis of the information of competitors, we can get the advantages, disadvantages, opportunities and threats (SWOT) of competitors, as well as the strategic types, strategic models and strategic combinations of competitors, so as to determine their own competitive position and competitiveness, find out the competitive differences and competitive advantages, and formulate competitive objectives and strategies;

Competition prediction: by dynamically tracking the information of competitors, we can predict the future behavior and trends of competitors, such as market entry, product innovation, price changes, marketing activities, cooperative relations, etc., so as to prepare in advance, seize market opportunities, prevent market risks and enhance market competitiveness;

Competitive learning: Through in-depth study of competitors' information, we can learn from competitors' successful experiences and failure lessons, such as product design, service quality, price strategy, marketing skills, management mode, etc., so as to learn from the advantages of competitors, improve their own shortcomings, improve their own level, and create their own characteristics.

6. Shangpu Consulting's Customer Service Case

Shangpu Consulting is a professional strategic consulting company that provides customized strategic solutions to customers in various industries to help customers achieve business growth and competitive advantage. Champu Consulting has rich experience and achievements in competitor research. The following are some customer service cases of Champu Consulting:

A home appliance company is facing the dilemma of market saturation, fierce competition and declining profits. It hopes to find out market opportunities and competitive strategies through competitor research. Shangpu Consulting conducted a comprehensive competitor research for the company, including the basic situation of competitors, strategic direction, strategic actions, strategic effects, etc., through literature analysis, field visits, questionnaires, interviews, network analysis and other methods, collected a lot of effective information, conducted in-depth competitive analysis, found the advantages and disadvantages of competitors, as well as market opportunities and threats, the following recommendations were made for the enterprise:

In terms of products, the company should strengthen product innovation, develop intelligent, environmentally friendly, and personalized products that meet customer needs and preferences, enhance the added value and differentiation of products, and increase the market attractiveness and competitiveness of products;

In terms of price, the enterprise should adopt a dynamic pricing strategy, according to market demand, competitors' prices, product costs and profits and other factors, flexible adjustment of prices, to achieve price optimization and maximization, improve price competitiveness and profitability;

In terms of channels, the company should expand diversified channels, use online and offline channels, establish a nationwide sales network, improve channel coverage and efficiency, and increase channel market share and sales;

In terms of marketing, the company should strengthen brand building, use advertising, public relations, events, social media and other means to enhance brand awareness and reputation, increase brand influence and loyalty, and establish brand core competitiveness.

Through the competitor research and suggestions of Shangpu Consulting, the company successfully implemented the corresponding competitive strategy, improved its competitiveness and market position, and achieved business growth and profit improvement.