Basic principles and methods of 1. competitor research

The basic principle of competitor research is: know yourself and know your enemy, and you can fight a hundred battles. This means collecting, analyzing and evaluating competitors' information in a comprehensive, objective, accurate and timely manner, identifying competitors' strengths and weaknesses, competitive strategies and trends, competitive space and potential, so as to develop a competitive strategy that suits them.

The basic approach to competitor research consists of the following steps:

The first step: determine the research objectives, objects and cycle. Research objectives are the objectives to be achieved through competitor research, such as increasing market share, increasing profits, and expanding into new markets. The research object refers to the competitors to be investigated, which can be selected and classified according to the criteria of popularity, scale, market share, product category, geographical distribution, etc. The research cycle refers to the time frame for competitor research, which can be determined according to industry changes, competitor dynamics, own needs and other factors, and can generally be divided into long-term research and short-term research.

Step 2: Break down the research object and divide the research dimension. Decomposing research objects refers to finding out all the roles associated with competitors and conducting research in turn, such as upstream suppliers, midstream enterprises themselves, downstream cooperative merchants, end consumers, etc. Dividing research dimensions refers to determining the content and aspects to be investigated according to different research roles, such as enterprise overview, development history, competitive strategy, core competitiveness, corporate culture, brand performance, product strategy, channel strategy, price strategy, promotion strategy, etc.

The third step: mobilize all resources, multi-channel research. Mobilizing all resources refers to using various information sources from oneself and outside to obtain data and information of competitors, such as internal resources of the company, personal contacts, offline merchants, interview with the company, hotline of the official website, telephone number of the recruitment website, microblog of internal employees, blog, pulse, LinkedIn, Zhihu, Tieba, WeChat public number, etc. Multi-channel research refers to the collection of competitor information through different ways and methods, such as web search, questionnaires, interviews, observation experiences, secret customers, data mining, etc.

Step 4: Avoid superficial research. Avoid superficial research means to conduct in-depth and detailed research on competitors, not just on the surface and phenomena, but to explore the essence and laws of competitors. You should look at them while walking, ask them while thinking, remember them while listening, talk about them while digging deeply, expand them while summarizing, and make use of scenes while pulling home. From one to the other, from the outside to the inside, layer by layer.

Step 5: remove the false and keep the true, organize and form a report. To remove the false and keep the true refers to the collected competitor information screening and verification, excluding untrue, inaccurate and irrelevant information, and retaining valuable, meaningful and useful information. Sorting out and forming a report refers to summarizing, analyzing and evaluating the information according to the previously established research objectives, objects and dimensions, and forming a complete competition report, which can be presented in the form of text, charts, data, etc., with its own research analysis and summary attached to provide a basis for upper-level decision-making.

Industry and scenario differences 2. competitor research

The basic principles and methods of competitor research are common, but in different industries and scenarios, certain adjustments and applications are required to adapt to different characteristics and needs. The following is an example of how Shangpu Consulting uses competitor research methods to provide professional solutions in the fields of market research, investment and financing consulting, and IPO listing consulting.

(I) competitor research in the field of market research

Market research is one of the core businesses of Shangpu Consulting, which mainly provides customers with industry research, market segmentation and user behavior research, channel model research, competitor research, market entry research, consumer research and other segmented consulting services. In this area, Champ Consulting faces the following main types of competitors:

Internationally renowned market research institutions, such as Nielsen, Ipsos, Goldman Sachs, etc., have strong brand influence, global service network, rich industry experience, professional data analysis capabilities and other advantages, but they also have high service prices., Long project cycle, low degree of localization and other disadvantages.

Large-scale domestic market research institutions, such as Analysys, iResearch, CCID, Zhongyikang, etc., have high market awareness, strong localized service capabilities, more industry resources, and better Customer reputation and other advantages, but there are also disadvantages such as limited service scope, uneven project quality, and opaque data sources.

Domestic smaller market research institutions, such as so-and-so consulting, so-and-so data, so-and-so analysis, they have lower service costs, faster project response, more flexible service model and other advantages, but there are also low brand influence, unstable service quality, lack of industry experience and other disadvantages.

When conducting competitor research in the field of market research, Shangpu Consulting needs to select appropriate research objects and dimensions according to different customer needs and project characteristics, such:

If the client is a multinational enterprise and wants to enter the Chinese market, then Shangpu Consulting Company can choose internationally renowned market research institutions as competitors, analyze their service advantages and disadvantages, and find out the differentiation and innovation points of Shangpu Consulting Company, such as providing more targeted, more in-depth and detailed market research services closer to the local market, And more flexible, more efficient and more economical project execution plan.

If the customer is a domestic enterprise and wants to expand its market share, then Shangpu Consulting can choose larger domestic market research institutions as competitors, analyze their market position and resource advantages, and find out the breakthrough and opportunity points of Shangpu Consulting, such as providing more professional, more accurate and more valuable market research reports. And more intimate, more thoughtful and more reliable customer service.

If the client is a start-up enterprise and wants to explore new market opportunities, then Shangpu Consulting Company can choose smaller domestic market research institutions as competitors, analyze their service characteristics and innovation ability, and find out the advantages and optimization points of Shangpu Consulting Company, such as providing more comprehensive, more systematic and more in-depth market research scheme, And more sensitive, more timely and more effective project feedback.

When conducting competitor research in the field of market research, Shangpu Consulting also needs to pay attention to the following points:

According to different industry characteristics and market trends, choose appropriate data sources and analysis methods. For example, for the Internet industry, technologies such as big data and artificial intelligence can be used to conduct more refined and dynamic market research; for traditional industries, you can Use methods such as field investigations and case analysis to conduct more empirical and in-depth market research.

According to different customer types and project objectives, choose the appropriate service content and form. For example, for large customers, it can provide more comprehensive and comprehensive market research services, including market overview, market segmentation, market scale, market growth, market structure, market competition, market opportunities, market risks, etc. For small customers, it can provide more focused and targeted market research services, including user needs, user behavior, user satisfaction, user loyalty, user value and so on.

According to different project stages and project progress, the appropriate service frequency and service intensity should be selected. For example, in the project start-up stage, more frequent and intensive services can be provided to ensure the smooth development of the project and the establishment of customer trust; In the project implementation stage, more stable and continuous services can be provided to ensure the quality control of the project and the improvement of customer satisfaction. At the end of the project, can provide more summary and more continuous services to ensure the effectiveness of the project evaluation and customer relationship maintenance.

Competitor research in the field of (II) investment and financing consulting.

Investment and financing consulting is one of the important businesses of Shangpu Consulting Company, which mainly provides customers with investment opportunity assessment, investment plan design, investment risk management, financing demand analysis, financing channel selection, financing plan formulation, financing risk avoidance and other segmented consulting services. In this area, Champ Consulting faces the following main types of competitors:

Internationally renowned investment and financing consulting institutions, such as McKinsey, Bain, Boston, etc., have strong brand influence, global service network, rich industry experience, professional data analysis capabilities and other advantages, but they also have high service prices, Long project cycle, low degree of localization and other disadvantages.

Domestic large-scale investment and financing consulting institutions, such as Deloitte, PricewaterhouseCoopers, Ernst & Young, etc., have high market awareness, strong localized service capabilities, more industry resources, and better customer reputation. And other advantages, but there are also disadvantages such as limited service scope, uneven project quality, and opaque data sources.

Domestic smaller investment and financing consulting institutions, such as so-and-so investment, so-and-so finance, so-and-so capital, they have lower service costs, faster project response, more flexible service model and other advantages, but there are also low brand influence, unstable service quality, lack of industry experience and other disadvantages.

When conducting competitor research in the field of investment and financing consulting, Shangpu Consulting needs to select appropriate research objects and dimensions according to different customer needs and project characteristics, such:

If the client is a domestic enterprise and wants to invest or raise funds, then Shangpu Consulting Company can choose larger domestic investment and financing consulting institutions as competitors, analyze their market position and resource advantages, and find out the breakthrough and opportunity points of Shangpu Consulting Company, such as providing more professional, more accurate and more valuable investment and financing consulting reports, And more intimate, more thoughtful and more reliable customer service.

If the client is a start-up enterprise and wants to find investment or financing opportunities, then Shangpu consulting company can choose smaller domestic investment and financing consulting institutions as competitors, analyze their service characteristics and innovation ability, and find out the advantages and optimization points of Shangpu consulting company, such as providing more comprehensive, more systematic and more in-depth investment and financing consulting solutions, And more sensitive, more timely and more effective project feedback.

There are also the following points to note when conducting competitor research in the investment and financing consulting space at Champ Consulting:

It is necessary to choose appropriate data sources and analysis methods according to different investment or financing purposes and methods. For example, for M & A investment, financial data and market data can be used to carry out more quantitative and objective investment evaluation; for venture capital, entrepreneurial teams and entrepreneurial projects can be used to carry out more qualitative and subjective investment evaluation.

According to different investment or financing stages and processes, the appropriate service content and form should be selected. For example, for the early stage of investment, it can provide more extensive and diverse investment opportunity screening and recommend, as well as more detailed and comprehensive investment plan design; For the middle stage of investment, it can provide more professional and in-depth investment risk identification and management, as well as more real-time and effective investment progress tracking; For the later stage of investment, it can provide more accurate and powerful investment return evaluation and optimization, as well as more lasting and stable investment relationship maintenance.

According to the risks and returns of different investment or financing, the appropriate service frequency and service intensity should be selected. For example, for high-risk and high-yield investment or financing, more frequent and intensive services can be provided to ensure the smooth progress of investment or financing and the establishment of customer confidence; for low-risk and low-yield investment or financing, more stable and sustainable services can be provided, to ensure the quality control of investment or financing and the improvement of customer satisfaction; for medium-risk and medium-return investment or financing, more balanced and moderate services can be provided to ensure the evaluation of the effectiveness of investment or financing and the maintenance of customer relationships.

Competitor research in the field of (III) IPO listing consulting

IPO listing consulting is one of the emerging businesses of Shangpu Consulting Company, which mainly provides customers with pre-listing preparation, mid-listing implementation, post-listing maintenance and other segmented consulting services. In this area, Champ Consulting faces the following main types of competitors:

Internationally renowned IPO consulting agencies, such as Goldman Sachs, Morgan Stanley, JPMorgan Chase, etc., have strong brand influence, global service network, rich industry experience, professional data analysis capabilities and other advantages, but they also have Disadvantages such as high service prices, long project cycles, and low degree of localization.

Large-scale domestic IPO listing consulting agencies, such as CICC, Guoxin, CITIC, etc., have high market awareness, strong localized service capabilities, more industry resources, and good customer reputation. However, there are also disadvantages such as limited service scope, uneven project quality, and opaque data sources.

Smaller domestic IPO listing consulting agencies, such as XX Securities, XX Investment, XX Capital, etc., have the advantages of lower service costs, faster project response, and more flexible service models, but they also have brands. Low influence, unstable service quality, and insufficient industry experience.

When conducting competitor research in the field of IPO listing consulting, Shangpu Consulting needs to select the appropriate research object and dimension according to different customer needs and project characteristics, such:

If the client is a multinational company and wants to conduct IPO listing in China, then Shangpu Consulting can choose internationally renowned IPO listing consulting agencies as competitors, analyze their service advantages and disadvantages, and find out the differences of Shangpu Consulting. And innovation points, such as providing more targeted, more in-depth and detailed, closer to the local IPO listing consulting services, and more flexible, more efficient and more economical project execution plans.

If the client is a domestic enterprise and wants to conduct IPO listing at home or abroad, then Shangpu Consulting Company can choose large-scale IPO listing consulting institutions in China as competitors, analyze their market position and resource advantages, and find out the breakthrough and opportunity points of Shangpu Consulting Company, such as providing more professional, more accurate and more valuable IPO listing consulting reports, and more attentive, more attentive, more reliable customer service.

If the client is a start-up enterprise and wants to find the opportunity of IPO listing, then Shangpu consulting company can choose the smaller domestic IPO listing consulting institutions as competitors, analyze their service characteristics and innovation ability, and find out the advantages and optimization points of Shangpu consulting company, such as providing more comprehensive, more systematic and more in-depth IPO listing consulting scheme, And more sensitive, more timely and more effective project feedback.

Champ Consulting in the field of IPO listing consulting.

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According to different IPO purposes and objects, choose appropriate data sources and analysis methods. For example, for the purposes of improving corporate visibility, increasing corporate influence, and expanding corporate scale, market data, brand data, and scale data can be used for comprehensive analysis; For the purpose of improving corporate efficiency, optimizing corporate structure, and enhancing corporate competitiveness, financial data, operational data, competitive data, etc. can be used for evaluation and analysis; for innovative projects, emerging industries, social responsibility and other objects, patent data, technical data, social data, etc. can be used for evaluation and analysis.

According to the different stages and risks of IPO listing, we should choose the appropriate service content and form. For example, for the stage before listing, we can provide more strategic planning, financial restructuring, legal compliance and other services to help customers prepare the conditions and requirements for listing; for the stage of listing, we can provide more services such as operation guidance, market promotion and investor relations, to help customers complete the listing process and objectives, for the post-listing stage, can provide more continuous improvement, risk management, value assessment and other services to help customers achieve the results and benefits of listing.

According to the scale and complexity of different IPO listings, the appropriate service frequency and service intensity should be selected. For example, for large-scale IPO listings, more frequent and intensive services can be provided to ensure the smooth development of the project and the establishment of customer trust. For small-scale IPO listings, more stable and continuous services can be provided to ensure project quality control and customer satisfaction improvement; for complex IPOs, more summarized and continued services can be provided to ensure project effectiveness evaluation and customer relationship maintenance.

3. epilogue

Competitor research is an important basis for strategic decision-making, which can help enterprises understand the competitive environment, find their own advantages and disadvantages, find opportunities for differentiation and innovation, and formulate effective competitive strategies. This article introduces the basic principles and methods of competitor research, and how to adjust and apply it according to different industries and scenarios. Taking Shangpu Consulting Company as an example, this paper shows how to use the method of competitor research to provide professional solutions in the fields of market research, investment and financing consulting, IPO listing consulting, etc., to enhance its competitiveness and influence in the industry. I hope this article helps and inspires you.