Purpose of 1. Competitor Research

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

Competitors include not only direct competitors, I .e. businesses that offer the same or similar products or services, but also indirect competitors, I .e. businesses that offer alternative products or services, and potential competitors, I .e. businesses that may enter our market. Competitor identification needs to take into account factors such as market size, segmentation, growth, trends, demand, and supply, as well as competitors' resources, capabilities, goals, and strategies.

What are our competitors doing? Competitors' behaviors include the characteristics, price, quality, channels, promotion, innovation, research and development, investment, acquisition, cooperation, expansion, etc. of their products or services. The behavior of competitors reflects their strategic choices and execution, as well as their strengths and weaknesses.

What will our competitors do? The future movement of competitors is based on their historical behavior, current situation and future goals, which involves their strategic intentions, motivations, assumptions, beliefs, expectations, preferences, etc. The future movement of competitors affects our market opportunities and threats.

How should we deal with our competitors? The ultimate purpose of competitor research is to formulate effective competitive strategies, that is, how to use our advantages and competitors' disadvantages, how to avoid our disadvantages and competitors' advantages, how to create and maintain our competitive advantages, how to deal with the existing and potential threats of competitors, how to seize the existing and potential opportunities of competitors, how to cooperate or compete with competitors, how to influence the behavior and expectations of competitors, etc.

Methods of 2. competitor research

There are several main methods of competitor research:

Public information analysis: Public information analysis is the use of competitors' publicly released information, such as annual reports, financial reports, websites, news, advertisements, recruitment, patents, trademarks, etc., to understand the basic situation of competitors, financial status, market status, product status, Technical status, organizational structure, human resources, strategic planning, etc. The advantages of public information analysis are that the information comes from a wide range of sources, easy access, low cost, and legal compliance. The disadvantage is that the information may be incomplete, inaccurate, untimely, inconsistent, and biased.

Market survey: Market survey is to collect information from competitors' customers, suppliers, distributors, partners, employees, former employees, industry experts, industry associations, government agencies and other relevant people by means of questionnaires, interviews, observations, experiments, etc. To understand competitors' market demand, market share, market satisfaction, market loyalty, market penetration, market growth rate, market competitiveness, etc. The advantages of market research are that the information is more direct, truer, deeper and more valuable, while the disadvantages are that it is difficult to obtain information, time-consuming, costly and has moral and legal risks.

Intelligence analysis: intelligence analysis is the use of various analytical tools and techniques, such as SWOT analysis, Porter's five forces analysis, value chain analysis, core competitiveness analysis, strategic group analysis, competitive situation analysis, competitive early warning analysis, etc., to organize, summarize, analyze, evaluate and predict competitors' information, so as to obtain competitors' strategic intentions, strategic choices, strategic implementation, strategic effects, etc. The advantage of intelligence analysis is that the information is more systematic, more comprehensive, more profound and more insightful, while the disadvantage is that the information may have errors, deviations, uncertainties and instability.

Steps to 3. competitor research

The steps of competitor research generally include the following stages:

Determining research objectives: Determining research objectives refers to defining the subject, scope, content, requirements, duration, etc. of the research in order to develop research plans and allocate research resources. Research objectives should have the characteristics of feasibility, measurability, relevance, clarity and timeliness.

Identifying competitors: Identifying competitors refers to determining the type, quantity, characteristics, advantages and disadvantages of competitors according to market size, segmentation, growth, trends, demand, supply and other factors, as well as competitors' resources, capabilities, goals, strategies and other factors, so as to select research objects and determine research priorities. Competitor identification should take into account the dynamics, diversity, complexity, uncertainty and other characteristics of competitors.

Collecting competitor information: Collecting competitor information refers to the use of public information analysis, market research and other methods to obtain competitor information from competitors' customers, suppliers, distributors, partners, employees, former employees, industry experts, industry associations, government agencies and other relevant persons, including the basic situation of competitors, financial status, market status, product status, technical status, organizational structure, human resources, strategic planning, etc. The collection of competitor information should pay attention to the validity, accuracy, timeliness, consistency, completeness and other characteristics of the information.

Analysis of competitor information: Analysis of competitor information refers to the use of intelligence analysis and other tools and techniques to organize, summarize, analyze, evaluate and predict competitor information, so as to obtain the competitor's strategic intent, strategic choice, strategic implementation, strategic effect, etc. Analysis of competitor information should pay attention to the systematic, comprehensive, profound, insight and other characteristics of the information.

Formulation of competitive strategy: Formulation of competitive strategy refers to the determination of the objectives, contents, methods, steps and measures of competitive strategy based on the results of competitor information analysis, combined with its own resources, capabilities, objectives and strategies, in order to achieve competitive advantage and competitive success. The development of competitive strategy should pay attention to the feasibility, effectiveness, flexibility, innovation and other characteristics of competitive strategy.

Implementing competition strategy: Implementing competition strategy refers to organizing, coordinating, guiding, supervising and evaluating the implementation of competition strategy according to the requirements of competition strategy, and adjusting the content and mode of competition strategy in time according to the changes of competition environment. The implementation of competitive strategy should pay attention to the consistency, synergy, continuity, improvement and other characteristics of competitive strategy.

4. Competitor Research Cases

In order to better illustrate the practical application and value of competitor research, this paper will show the process and results of competitor research in combination with the specific cases of Shangpu consulting service customers.

Case 1: A competitor survey of an automaker.

An automobile manufacturer is an internationally renowned high-end automobile brand, and its products are favored by consumers for their high performance, high high quality, high safety, and high environmental protection. The automaker's main competitors are other high-end car brands, such as Mercedes-Benz, BMW, Audi, Volvo, etc. The automaker commissioned Shangpu Consulting to conduct competitor research to understand the strategic intentions and actions of competitors, predict the future trends of competitors, and formulate effective competitive strategies.

According to the research objectives of the automobile manufacturer, Shangpu Consulting adopted the following methods and steps to conduct competitor research:

Determine the research objectives: Shangpu Consulting communicated with the automobile manufacturer and clarified the theme, scope, content, requirements, and time limit of the research. The theme of the survey is the strategic intentions and actions of competitors. The scope of the survey is other high-end automobile brands. The content of the survey is the products, prices, channels, promotion, innovation, research and development, investment, acquisition, cooperation, expansion and other aspects of competitors. The requirement of the survey is to provide information analysis and competitive strategy suggestions of competitors. The period of the survey is three months.

Identifying competitors: According to the market size, segmentation, growth, trends, demand, supply and other factors, as well as the resources, capabilities, objectives, strategies and other factors of competitors, Shangpu Consulting has determined the type, quantity, characteristics, advantages and disadvantages of competitors. The types of competitors are direct competitors. The number of competitors is four. The characteristics of competitors are that they have their own brand positioning, target market, product characteristics, technical advantages, market strategies, etc. The advantages and disadvantages of competitors are different. Some are leading in product performance, some are outstanding in brand image, some are extensive in market channels, and some are strong in innovation ability.

Collecting competitor information: Shangpu Consulting uses public information analysis and market research methods to obtain information about competitors from competitors' customers, suppliers, distributors, partners, employees, former employees, industry experts, industry associations, government agencies and other relevant people, including competitors' basic information, financial status, market status, product status, technical status, organizational structure, human resources, strategic planning, etc. Shangpu Consulting pays attention to the validity, accuracy, timeliness, consistency, completeness and other characteristics of the information, and filters, verifies, integrates, and stores the information.

Analysis of competitor information: Champ Consulting uses the tools and techniques of intelligence analysis to organize, summarize, analyze, evaluate and predict competitor information, so as to arrive at the competitor's strategic intent, strategic choice, strategic execution, strategic effect, etc. Champu Consulting pays attention to the characteristics of information, such as systematicness, comprehensiveness, depth and insight, and classifies, compares, evaluates and infers the information.

Formulation of competitive strategy: Based on the results of competitor information analysis, Champu Consulting has determined the objectives, contents, methods, steps, measures, etc. of the competitive strategy based on the automaker's resources, capabilities, objectives, strategies, etc., in order to achieve competitive advantage and competitive success. Shangpu Consulting pays attention to the feasibility, effectiveness, flexibility, innovation and other characteristics of the competitive strategy, and designs, plans and optimizes the competitive strategy.

The results of the competitor survey by Champ Consulting are as follows:

Competitors' strategic intentions: influenced by their historical background, current situation and future goals, their strategic intentions are also different. Some pay more attention to the promotion of brand image, some pay more attention to the leading of product innovation, some pay more attention to the expansion of market channels, and some pay more attention to the establishment of partners.

Competitors' strategic choices: Champu Consulting found that competitors' strategic choices are based on their own resources, capabilities, strengths, weaknesses, etc., to choose different competitive strategies, such as product differentiation, cost leadership, market concentration, market segmentation, Market development, product development, diversification, etc. The strategic choices of competitors are also focused, some pay more attention to the quality and performance of the product, some pay more attention to the design and style of the product, some pay more attention to the price and profit of the product, and some pay more attention to the service and experience of the product.

Strategic implementation of competitors: Shangpu Consulting found that the strategic implementation of competitors is based on their own strategic choices, taking different actions, such as product research and development, production, sales, promotion, innovation, etc., channel establishment, management, expansion, Optimization, etc., promotion planning, implementation, evaluation, improvement, investment decision-making, implementation, supervision, income, etc, the selection, negotiation, integration and coordination of acquisition, the search, establishment, maintenance and deepening of cooperation, and the direction, mode, speed and scale of expansion. The strategic implementation of competitors is also different, some pay more attention to efficiency and effect, some pay more attention to innovation and change, some pay more attention to stability and sustainability, and some pay more attention to cooperation and win-win.

Strategic effect of competitors: Shangpu Consulting found that the strategic effect of competitors is based on their own strategic implementation, resulting in different results, such as market share, market satisfaction, market loyalty, market penetration, market growth rate, market competitiveness, financial income, financial cost, financial profit, financial return, financial risk, brand awareness, brand image, brand reputation, brand loyalty, brand value, etc, technical level, technological innovation, technological patents, technological transformation, technological competitiveness, etc., organizational structure, organizational culture, organizational atmosphere, organizational efficiency, organizational effectiveness, etc., human resources, talent training, talent incentive, talent retention, talent competitiveness, etc. The strategic effect of competitors is also good and bad, some outstanding in some aspects, some poor performance in some aspects, some average performance in all aspects, and some unstable performance in all aspects.

Suggestions on competitive strategy: based on the competitor's strategic intent, strategic choice, strategic implementation, strategic effect, etc., combined with the automaker's resources, capabilities, objectives, strategies, etc., Champ Consulting has put forward the following suggestions on competitive strategy:

Adhere to its own brand positioning and product characteristics: the brand positioning of the automobile manufacturer is high-end cars, and its product characteristics are high performance, high high quality, high safety, high environmental protection, etc., which is the core competitiveness of the automobile manufacturer and its unique value in the market. The automobile manufacturer should adhere to its own brand positioning and product characteristics, do not change or give up at will, so as not to damage its own brand image and market position, and do not blindly follow or imitate the brand positioning and product characteristics of competitors, so as not to lose its own differentiation advantages and market recognition.

Strengthen its own product innovation and technology research and development: The product innovation and technology research and development of the automobile manufacturer is an important means to maintain and enhance its own product characteristics and competitive advantages, and it is also an effective way to deal with market changes and threats from competitors. The car manufacturer should strengthen its own product innovation and technology research and development, continue to introduce new products that meet market demand and consumer preferences, continuously improve product performance, quality, safety, environmental protection, etc., and continue to master and use advanced technologies and patents, Continuously increase its own technical barriers and technical competitiveness.

Expanding its own market channels and partners: The automaker's market channels and partners are an important way to expand and consolidate its own market share and profit margins, as well as an effective way to seek new growth points and competitive advantages. The automobile manufacturer should expand its own market channels and partners, constantly open up and enter new markets and regions, constantly establish and manage its own sales network and service system, constantly seek and establish cooperative relations with other automobile brands, auto parts suppliers, auto financial institutions, auto media institutions, etc., and constantly increase its own market coverage and market influence.

Flexibility to adjust its own price strategy and promotion strategy: The automaker's price strategy and promotion strategy are important factors that influence and attract consumers' purchase decisions, and are also an effective means to deal with market competition and competitors' actions. The automobile manufacturer should flexibly adjust its own price strategy and promotion strategy, reasonably formulate and adjust its own product price and profit margin according to the market supply and demand situation, consumers' purchasing power and willingness to buy, competitors' price behavior and promotion behavior, reasonably plan and implement its own product promotion and brand promotion, and reasonably balance its own market share and profit margin.