Competitor research refers to the systematic collection, analysis and evaluation of existing or potential competitors in the industry and market in which an enterprise is located, in order to obtain information about competitors' strategies, objectives, capabilities, behaviors, strengths and weaknesses, so as to provide basis and guidance for enterprises to formulate effective competitive strategies. The main purpose of competitor research is the following:

Understand the basic situation of competitors, such as size, position, products, services, market share, financial position, cost structure, profitability, etc., to assess the strength and threat of competitors.

Understand the strategic intentions of competitors, such as vision, mission, goals, values, core competencies, strategic direction, strategic choices, strategic actions, etc., to predict the future trends and possible reactions of competitors.

Understand the strengths and weaknesses of competitors, such as resources, capabilities, technology, innovation, brand, channels, customers, quality, service, price, reputation, etc., to determine their own competitive strengths and weaknesses, as well as the opportunities and threats of competitors.

Understand the behavior and reactions of competitors, such as market entry, product development, price changes, promotional activities, partners, mergers and acquisitions, litigation disputes, crisis response, etc., in order to develop appropriate competitive strategies and countermeasures.

The steps of competitor research generally include the following stages:

Determine the objectives and scope of competitor research, I .e., identify which competitors to investigate and what information to obtain.

Collect relevant information about competitors, that is, use various channels and methods, such as public information, web searches, industry reports, market research, expert interviews, secret customers, espionage, etc., to obtain as much effective and reliable competitor information as possible.

Analysis of competitor information, that is, the use of various tools and models, such as SWOT analysis, Porter's five-force model, value chain analysis, strategic group analysis, competitive map analysis, etc., to organize, classify, compare, evaluate and interpret competitor information to reveal the characteristics, patterns and trends of competitors.

Evaluate the impact of competitors, that is, based on the results of the competitor's information analysis, to determine the extent and direction of the competitor's impact on the enterprise, such as the strength of the competitor, threats, opportunities, reactions, etc., to determine the priority and focus of the competitor.

Develop competitive strategies and action plans, I .e., select appropriate competitive strategies and action plans, such as attack, defense, cooperation, avoidance, adaptation, etc., based on the results of the impact assessment of competitors, to respond to the challenges of competitors and to take advantage of their opportunities.

There are many methods and tools for competitor research, some of which are commonly used as follows:

SWOT analysis, which analyzes the strengths (Strengths), weaknesses (Weaknesses), opportunities (Opportunities) and threats (Threats) of competitors to assess their overall competitiveness and development potential. A SWOT analysis can be expressed as follows:

Advantages and Disadvantages

Opportunity SO strategy: take advantage of the advantages to seize the opportunity WO strategy: overcome the disadvantages to seize the opportunity

Threat ST Strategy: Use strengths to deal with threats WT Strategy: Overcome weaknesses to deal with threats

Porter's Five Forces model, which analyzes the five basic forces of the industry in which competitors operate, namely, the bargaining power of suppliers, the bargaining power of buyers, the threat of new entrants, the threat of substitutes, and the degree of competition within the industry, to assess the attractiveness and profitability of competitors. Porter's five forces model can be represented by the following graph:

! Porter's Five Forces Model

Value chain analysis, that is, the analysis of the value chain of competitors, that is, a series of activities carried out by competitors to provide products or services, including main activities (such as procurement, production, sales, services, etc.) and auxiliary activities (such as technology, manpower, finance, etc.) to assess the cost structure and value creation ability of competitors. Value chain analysis can be expressed in the following ways:

Shangpu Consulting is a professional competitor research service provider with rich industry experience and expertise to provide customers with customized competitor research programs and reports to help customers develop effective competitive strategies and action plans. The following is a case study of competitor research services provided by Shangpu Consulting to clients, showing the practical application and effect of competitor research.

Case 1: An automaker wants to enter the Chinese market, but faces stiff competition and complex regulations. Shangpu consulting company provides the customer with competitor research services in China's automobile market, including the analysis of the basic situation, strategic intention, advantages and disadvantages, behavior and reaction of the main competitors, as well as the analysis of the five forces model, value chain, market segmentation and consumer demand of China's automobile market. Shangpu Consulting has also formulated a competitive strategy and action plan for the Chinese market for the client, such as selecting the right partner, positioning the right target market, developing the right products and services, and formulating the right price and promotion strategy. With the help of Shangpu Consulting, the customer successfully entered the Chinese market and achieved good market response and sales performance in a short period of time.

Case 2: An e-commerce platform wants to improve its competitiveness and profitability, but it faces pressure and challenges from giants such as Amazon and Alibaba. Shangpu Consulting provided the client with competitor research services in the e-commerce industry, including SWOT analysis of major competitors, strategic group analysis, competitive map analysis, etc., as well as analysis of trends, opportunities, and threats in the e-commerce industry. Shangpu Consulting has also formulated competitive strategies and action plans for the e-commerce industry for the customer, such as highlighting its core competitiveness, expanding new markets and channels, innovating new products and services, and enhancing customer loyalty and satisfaction. With the help of Shangpu Consulting, the client has successfully improved its competitiveness and profitability, and has established a position in the e-commerce industry.

In summary, competitor research is an important part of the development of competitive strategy, it can help companies understand the situation and impact of competitors, so as to develop effective competitive strategies and action plans. Shangpu Consulting is a professional competitor research service provider, providing customers with customized competitor research solutions and reports to help customers gain advantage and success in a highly competitive market.