Purpose of 1. Competitor Research

The purpose of competitor research is to obtain relevant information about competitors, analyze their competitive situation, assess their strengths and weaknesses, and predict their future trends, so as to formulate their own competitive strategies and action plans. Specifically, the purpose of competitor research includes the following aspects:

Understand the basic situation of competitors, such as size, history, organizational structure, culture, vision, mission, values, etc;

Understand the strategic direction of competitors, such as objectives, positioning, core competitiveness, development planning, strategic focus, strategic cooperation, etc;

Understand competitors' products or services, such as characteristics, advantages, disadvantages, innovation, brand, quality, price, channel, promotion, after-sales, etc;

Understand the market performance of competitors, such as market share, market growth, market share, market satisfaction, market loyalty, market influence, etc;

Understand the financial situation of competitors, such as revenue, profit, cost, investment, assets, liabilities, cash flow, etc;

Understand the human resources of competitors, such as personnel size, personnel structure, personnel quality, personnel flow, personnel motivation, personnel training, etc;

Understand the technical capabilities of competitors, such as technical level, technical innovation, technical protection, technical transfer, technical cooperation, etc;

Understand the risk factors of competitors, such as policy, law, economy, society, environment, competition, crisis, etc.

Through competitor research, we can fully understand the situation of competitors from multiple angles, so as to provide valuable reference and basis for our own strategic decision-making.

Methods of 2. competitor research

There are several main methods of competitor research:

Literature analysis method: through the collection, collation and analysis of competitors' public literature, such as official website, annual report, news, announcement, report, paper, patent, trademark, etc., to obtain the first-hand information of competitors;

Field visit method: by personally or entrusting a third party to the competitor's location or market for field visits, such as observation, experience, interview, photo, video, etc., to obtain the competitor's on-site information;

Questionnaire survey method: through the design, distribution, recovery, analysis of the questionnaire for competitors, such as customer satisfaction questionnaire, market survey questionnaire, competition analysis questionnaire, etc., to obtain objective information of competitors;

Interview access method: through interviews or interviews with relevant personnel of competitors, such as senior managers, middle managers, front-line employees, partners, suppliers, customers, etc., to obtain internal information of competitors;

Internet search method: by using Internet search engines, such as Bing, Google, Baidu, etc., enter the relevant competitors.KeywordsObtain network information of competitors;

Intelligence Analysis: Through the use of intelligence analysis theory and methods, such as SWOT analysis, PEST analysis, Porter five-force analysis, competitive intelligence analysis, etc., the competitor's information is systematic, in-depth, intelligent analysis, access to the competitor's strategic information.

Competitor research methods can be selected and combined according to different research purposes, objects, content, time, cost and other factors to achieve the best research results.

Steps to 3. competitor research

The steps of competitor research generally include the following stages:

Determine the research objectives: clarify the purpose, scope, content, standards, duration, etc. of the research;

Select the research object: according to the type of competitors, scale, influence, relationship, etc., to select the main competitors;

Design research plan: according to the research objectives and objects, select the appropriate research methods, channels, tools, indicators, etc., to develop a detailed research plan;

Implementation of research activities: according to the research plan, collect, organize and analyze the relevant information of competitors, record, archive and store research data;

Output research report: according to the research results, write research report, including research background, process, results,Conclusion, recommendations, etc., to form a visual research report;

Formulate a response plan: According to the research report, analyze the advantages and disadvantages, opportunities and threats of oneself and competitors, and formulate targeted competitor response plans, including strategies, strategies, actions, etc.

The steps of competitor research can be adjusted and optimized according to different research projects to improve the efficiency and quality of research.

Considerations for 4. Competitor Research

Competitor research is a professional work, need to pay attention to the following aspects:

Compliance with laws and ethics: Competitor research should be conducted within a legal and reasonable scope, and must not infringe on the legitimate rights and interests of competitors, must not use improper means or channels to obtain competitors' information, and must not disclose competitors' confidential or sensitive information;

Maintaining objectivity and impartiality: Competitor research should be based on facts, without subjective assumptions or biased interpretation of competitors' information, without exaggerating or belittling competitors' strengths and weaknesses, and without malicious attacks or denigration of competitors' image or reputation;

Focus on timeliness and updating: Competitor research should follow up on the latest developments of competitors in a timely manner, not use outdated or invalid information, not ignore or miss important changes in competitors, and not be stagnant or satisfied with the status quo information of competitors;

Focus on value and application: Competitor research should aim to improve its own competitiveness, not just collect or accumulate information about competitors, not just focus on or imitate the superficial phenomena of competitors, and not ignore or give up its own advantages or characteristics.

Competitor research is an ongoing exercise that requires regular evaluation and improvement to improve the quality and effectiveness of the research.

5. Competitor Response Plan

The development of a competitor's response plan is the ultimate goal of competitor research and the process of translating the results of the research into practical action. The formulation of the competitor's response plan should be based on its own strategic objectives, competitive advantages, market demand, resource conditions and other factors, combined with the advantages and disadvantages of competitors, opportunities and threats, to develop a competitive strategy and action plan in line with its own characteristics and market environment. Specifically, the development of a competitor's response plan can follow the following principles:

Taking oneself as the main body and the enemy as the auxiliary: the formulation of the competitor's response plan should take its own development as the center, take the competitor's situation as the reference, do not blindly follow or confront the competitor, but according to its own advantages and characteristics, formulate a distinctive and differentiated competitive strategy and action plan;

To attack the weak by the strong, to avoid the strong by the weak: the formulation of the competitor's response plan should be based on its own advantages, to the competitor's disadvantage as a breakthrough, not to confront the competitor on its strengths, but to find the competitor's weaknesses and loopholes, to develop a targeted and effective competitive strategy and action plan;

To change the strain, to static braking: the development of competitors to deal with the plan should be guided by the changes in the market, to the trend of competitors as a warning, do not stick to the static competition strategy and action plan, but according to the needs and trends of the market, to develop a flexible and innovative competition strategy and action plan;

The formulation of competitor's response plan should be based on cooperative thinking and supplemented by competitive means. Instead of blindly opposing or conflicting with competitors, we should seek win-win or coexistence with competitors and formulate cooperative and shared competitive strategies and action plans.

The development of a competitor's response plan is a practical work that needs to be continuously implemented and tested to improve the feasibility and effectiveness of the plan.

6. Shangpu Consulting's competitor research case.

Shangpu Consulting Company is a professional consulting service organization, mainly providing customers with industry research, market research, investment and financing consulting, IPO listing consulting and other services. Champ Consulting's competitors are mainly in the following categories:

Internationally renowned consulting companies, such as McKinsey, Bain, Boston, etc., have deep accumulation and extensive influence in the consulting field, and are direct competitors of Champ Consulting;

Leading domestic consulting companies, such as Huasheng, Yikai, Huaxing, etc., these companies have strong competitiveness and brand awareness in the domestic market, and are important competitors of Shangpu Consulting Company;

Industry professional consulting companies, such as CICC, CITIC, Zhongshang, etc., these companies have professional advantages and resources in certain industries or fields, and are potential competitors of Shangpu Consulting;

Emerging entrepreneurial consulting companies, such as Xiaomi, Didi, Meituan, etc., these companies use the Internet as a platform, innovation as a drive, and low-price strategies. They are the future competitors of Shangpu Consulting.

In order to improve its competitiveness and market share, Shangpu Consulting conducted systematic research and analysis on the above four types of competitors, and formulated corresponding response plans. The following are examples of some of the competitor research and response options of Champ Consulting:

In response to internationally renowned consulting firms, Champ Consulting has adopted the following strategies and actions:

Through the literature analysis method and the network search method, the strategic direction, products or services, market performance, financial situation, technical ability and other information of international well-known consulting companies are collected and analyzed, and their advantages and disadvantages in the domestic market are evaluated;

Through the method of on-the-spot investigation and interview, I went to the location or market of the international well-known consulting company to observe and experience the quality and effect of its products or services, interviewed and visited its relevant personnel, and learned about its internal situation and customer feedback;

Through the literature analysis method and the network search method, the strategic direction, products or services, market performance, financial situation, technical ability and other information of international well-known consulting companies are collected and analyzed, and their advantages and disadvantages in the domestic market are evaluated;

Through the method of on-the-spot investigation and interview, I went to the location or market of the international well-known consulting company to observe and experience the quality and effect of its products or services, interviewed and visited its relevant personnel, and learned about its internal situation and customer feedback;

Through intelligence analysis, SWOT analysis and Porter's five forces analysis, the information of international well-known consulting companies is systematically, deeply and intelligently analyzed, and its future development trend and possible measures are predicted;

According to the analysis results, the following response plans are formulated:

At the strategic level, Shangpu Consulting Company chooses the differentiation strategy, that is, to provide consulting services with characteristics and advantages in the fields or market segments that international well-known consulting companies are not good at or do not attach importance to, such as small and medium-sized enterprises, emerging industries, local markets, etc., to provide consulting solutions that are more suitable for customer needs and actual conditions;

At the product level, Shangpu Consulting Company has chosen innovative products, that is, to improve or innovate on the basis of the products or services of internationally renowned consulting companies, and provide more efficient and high-quality consulting services, such as using big data, cloud computing, Artificial intelligence and other technologies to provide more accurate and intelligent consulting solutions;

At the market level, Shangpu Consulting Company has chosen a penetrating market, that is, to penetrate or seize the market that has been developed or occupied by internationally renowned consulting companies, and provide more low-cost and cost-effective consulting services, such as through the Internet, social media, Word of mouth and other ways to improve its own brand awareness and market influence;

At the human level, Shangpu Consulting Company has chosen to cultivate human resources, that is, to excavate or train the talent pool of internationally renowned consulting companies to provide more professional and loyal consultants, such as through campus recruitment, internal training, incentive mechanism, etc., to improve its own talent level and talent retention rate.

For the leading domestic consulting firms, Champ Consulting has adopted the following strategies and actions:

Through questionnaires and interviews, the information of leading domestic consulting firms, such as customer satisfaction, market research and competition analysis, was collected and analyzed, and their competitive situation and customer needs in the domestic market were assessed;

Through the network search method and intelligence analysis method, the network information, intelligence information, strategic information and other information of leading domestic consulting companies are obtained and analyzed, and their opportunities and threats in the domestic market are predicted;

According to the analysis results, the following response plans are formulated:

At the strategic level, Shangpu Consulting Company has chosen a centralized strategy, that is, to concentrate or break through the core areas or major markets of leading domestic consulting companies and provide more professional and in-depth consulting services, such as providing more comprehensive and systematic consulting solutions for finance, energy, medical and other industries;

At the product level, Shangpu Consulting Company chose customized products, that is, customized or personalized according to the different needs and characteristics of the customers of the leading domestic consulting companies, and provided more suitable and satisfactory consulting services, such as according to the customer's scale, History, goals, problems, etc., to provide more customized and problem-solving consulting solutions;

At the market level, Shangpu Consulting Company chose the expansion market, that is, in the market that the leading domestic consulting companies failed to cover or ignore, to expand or develop, and to provide more diversified and comprehensive consulting services, such as for the western, northeast, central and other regions, to provide consulting solutions that are more in line with local characteristics and development needs;

At the human level, Shangpu Consulting has chosen cooperative manpower, that is, to cooperate or exchange with talents from leading domestic consulting companies, and provide more abundant and diverse consultants, such as through project cooperation, talent exchange, learning and sharing, etc., to improve Own human resources and talent network.

For professional consulting firms in the industry, Champ Consulting has adopted the following strategies and actions:

Through on-the-spot investigation and questionnaire survey, the quality and effect of products or services, customer feedback and evaluation of professional consulting companies in the industry are collected and analyzed, and their advantages and disadvantages in certain industries or fields are evaluated;

Through literature analysis and intelligence analysis, the professional information, patent information, professional intelligence and other information of professional consulting companies in the industry are obtained and analyzed, and their development trends and possible changes in certain industries or fields are predicted;

According to the analysis results, the following response plans are formulated:

At the strategic level, Shangpu Consulting Company has chosen a diversified strategy, that is, to diversify or expand the advantageous areas or market segments of professional consulting companies in the industry, and to provide more extensive and comprehensive consulting services, such as for electronics, automobiles, education, etc. Industry, provide consulting solutions covering more aspects and levels;

At the product level, Shangpu Consulting Company chooses optimized products, that is, on the basis of the products or services of professional consulting companies in the industry, it optimizes or improves to provide more high-quality and efficient consulting services, such as using the latest theories, methods, technologies, etc., to provide more advanced and scientific consulting solutions;

At the market level, Shangpu Consulting Company has chosen a segmented market, that is, in the market that has been developed or occupied by professional consulting companies in the industry, it is subdivided or divided to provide more accurate and targeted consulting services, such as for different customer groups, regions, needs, etc., to provide more in line with customer characteristics.

For professional consulting firms in the industry, Champ Consulting has adopted the following strategies and actions:

Through on-the-spot investigation and questionnaire survey, the quality and effect of products or services, customer feedback and evaluation of professional consulting companies in the industry are collected and analyzed, and their advantages and disadvantages in certain industries or fields are evaluated;

Through literature analysis and intelligence analysis, the professional information, patent information, professional intelligence and other information of professional consulting companies in the industry are obtained and analyzed, and their development trends and possible changes in certain industries or fields are predicted;

According to the analysis results, the following response plans are formulated:

At the strategic level, Shangpu Consulting Company has chosen a diversified strategy, that is, to diversify or expand the advantageous areas or market segments of professional consulting companies in the industry, and to provide more extensive and comprehensive consulting services, such as for electronics, automobiles, education, etc. Industry, provide consulting solutions covering more aspects and levels;

At the product level, Shangpu Consulting Company chooses optimized products, that is, on the basis of the products or services of professional consulting companies in the industry, it optimizes or improves to provide more high-quality and efficient consulting services, such as using the latest theories, methods, technologies, etc., to provide more advanced and scientific consulting solutions;

At the market level, Shangpu Consulting Company chooses a segmented market, that is, the market that has been developed or occupied by professional consulting companies in the industry is subdivided or divided to provide more accurate and targeted consulting services, such as providing consulting solutions that are more in line with customer characteristics and expectations for different customer groups, regions, needs, etc;

At the human level, Shangpu Consulting Company has chosen learning manpower, that is, to learn or learn from the talents of professional consulting companies in the industry, and provide more professional and experienced consultants, such as participating in industry forums, seminars, and training courses. Ways to improve their own professional knowledge and skills.

For emerging start-up consulting firms, Champ Consulting has adopted the following strategies and actions:

Through the Internet search method and questionnaire survey method, the network information, customer satisfaction, market research and other information of emerging start-up consulting companies are collected and analyzed, and their advantages and disadvantages on the Internet platform are evaluated;

Through literature analysis and intelligence analysis, we obtain and analyze the innovation information, patent information, intelligence information and other information of emerging start-up consulting companies, and predict their opportunities and threats in the Internet field;

According to the analysis results, the following response plans are formulated:

At the strategic level, Shangpu Consulting Company has chosen the integration strategy, that is, to integrate or integrate on the Internet platform of emerging start-up consulting companies to provide more convenient and efficient consulting services, such as providing faster and more convenient consulting solutions by establishing its own website, APP, WeChat official account, etc;

At the product level, Shangpu Consulting Company has chosen a variety of products, that is, according to the diversity and variability of the products or services of emerging start-up consulting companies, to provide more abundant and flexible consulting services, such as according to different industries, Fields, themes, etc., to provide more diversified and innovative consulting solutions;

At the market level, Shangpu Consulting Company chooses the interactive market, that is, in the Internet market of emerging start-up consulting companies, to interact or communicate, and provide more cordial and friendly consulting services, such as through online consulting, online evaluation, online feedback, etc. Ways to improve their own customer relationship and customer satisfaction;

At the human level, Shangpu Consulting has chosen competitive manpower, that is, to compete or seize talents from emerging entrepreneurial consulting companies, and provide younger and more dynamic consultants, such as through high salaries, high benefits, and high incentives. Own talent attractiveness and talent competitiveness.

The above are some examples of competitor research and response plans of Shangpu Consulting Company for reference only. In the actual consulting services, Shangpu Consulting will conduct more detailed and professional competitor research and the formulation and implementation of response plans according to different customers and projects to help customers gain an advantage in the fierce market competition.