Competitor research refers to the process of systematic collection, collation, analysis and evaluation of existing or potential competitors in the market in which an enterprise is located, which is an important part of enterprise strategic analysis and the basis for enterprises to formulate effective competitive strategies. Competitor research can help companies understand the market environment, identify competitive advantages, develop competitive objectives, select competitive strategies, assess competitive effectiveness, and adjust competitive actions.

Champu Consulting is a professional strategic consulting company with rich experience in competitor research and provides high-quality competitor research services to customers in different industries and fields. According to Champu Consulting, competitor research should follow the following five elements:

1. determination of research objectives

The research objective refers to the purpose and expectation of the enterprise to conduct competitor research, which determines the direction and scope of the research, and is also the standard for evaluating the effect of the research. Research objectives should be clear, quantifiable, achievable and relevant to facilitate the development of research plans and the implementation of research activities. For example, the research goal of an automobile manufacturer is to understand the product characteristics, price strategy, market share, customer satisfaction, brand image, etc. of competitors in order to improve their product competitiveness and market share.

2. selection of research objects

The research object refers to the main target group of the enterprise to conduct competitor research, which determines the focus and depth of the research, but also the source of research information. The research objects should be screened and graded according to the research objectives and market environment of the enterprise, so as to optimize the research resources and improve the research efficiency. For example, an e-commerce platform is surveyed by its direct competitors in the same market or market segment, as well as alternative providers, new entrants, upstream and downstream partners that may pose a threat or opportunity to it.

3. collection of research information

Research information refers to the main data and materials used by enterprises to conduct competitor research, which determines the quality and effectiveness of research and is also the basis of research and analysis. Research information should be collected and organized according to the research objectives and research objects of the enterprise, so as to obtain comprehensive, accurate, timely and valuable information. The sources of research information can be divided into two categories: one is internal information, that is, information that the company has or can obtain, such as financial statements, market research, customer feedback, etc.; the other is external information, that is, the company needs to obtain through other channels or channels. Information, such as competitors' official websites, social media, news reports, industry reports, expert opinions, etc.

4. analysis of research results

Research results refer to the process of processing, processing, summarizing and summarizing competitor research information, which determines the significance and value of research, and is also the basis for formulating research actions. The research results should be analyzed and evaluated according to the research objectives and research information of the enterprise, so as to find out the strengths and weaknesses of competitors, identify the strategic intentions and behavior patterns of competitors, and predict the future trends and development trends of competitors. There are many methods of analysis of research results, such as SWOT analysis, Porter's five forces analysis, value chain analysis, strategic group analysis and so on.

5. formulation of research actions

Research action refers to the specific competitive strategies and measures formulated by enterprises according to the research results of competitors, which determines the effectiveness and impact of research, and is also a means to test the effectiveness of research. Research actions should be formulated and implemented according to the research objectives and research results of the enterprise, so as to achieve the competitive objectives of the enterprise, enhance the competitive advantage of the enterprise, and enhance the competitiveness of the enterprise. There are many ways to develop research actions, such as attack strategies, defense strategies, cooperation strategies, and adaptation strategies.

Through the experience of Shangpu Consulting, this paper summarizes the five elements of competitor research, namely: determining research objectives, selecting research objects, collecting research information, analyzing research results, and formulating research actions. This paper also demonstrates the application and value of these five elements in practice through the competitor research cases provided by Champ Consulting for an automobile manufacturer and an e-commerce platform. Competitor research is a complex and important task that requires companies to invest sufficient time, energy and resources, as well as professional consulting agencies and tools to improve the quality and effectiveness of research. As a professional strategic consulting company, Shangpu Consulting has rich experience and ability in competitor research. It can provide high-quality competitor research services for customers in different industries and fields, help customers formulate effective competitive strategies and achieve competitive advantages.