Purpose of Benchmarking Enterprise Analysis

The purpose of benchmarking enterprise analysis is to understand their relative position in the market, identify their competitive advantages and disadvantages, as well as the strategic intentions and actions of benchmarking enterprises, so as to formulate their own competitive strategies and improve their market share and profitability. Benchmarking business analytics can help companies achieve the following objectives:

Find your opponent's way to success. By analyzing the products, services, prices, channels, promotions, brands and other aspects of benchmarking enterprises, we can find out the core competitiveness of benchmarking enterprises and the key factors behind them, such as resources, capabilities, technology, innovation, culture and so on.

Analyze the competitive strategies of benchmarking firms. By analyzing the target market, target customers, value proposition, differentiation advantage, competitive advantage, competitive disadvantage, etc. of the benchmarking enterprise, we can understand the competitive positioning and competitive mode of the benchmarking enterprise, as well as its influence and threat to the market.

Find the strategic weaknesses of the benchmarking firm. By analyzing the performance, finance, risks, problems, challenges, crises, etc. of benchmarking enterprises, the potential loopholes and crisis points of benchmarking enterprises are found, as well as the changes and pressures they may face.

Analyze the consumer mind points occupied by benchmarking enterprises. By analyzing the brand image, brand reputation, brand loyalty, brand awareness, brand emotion, etc. of benchmarking enterprises, we can understand the status and influence of benchmarking enterprises in the minds of consumers, as well as their relationship and interaction with consumers.

Look for differentiation possibilities. By analyzing the similarities and differences in products, services, prices, channels, promotions, brands and other aspects of benchmarking enterprises, we can find out the differences and advantages between ourselves and benchmarking enterprises, as well as the characteristics and values that can be highlighted and enlarged.

Find your own breakthrough in the industry. By analyzing the market share, market growth, market potential, market gaps, market demand, etc. of benchmarking enterprises, we can find out the market segmentation and market opportunities that we can enter and expand, as well as the market demand that we can create and meet.

Methods of Benchmarking Enterprise Analysis

The main methods of benchmarking enterprise analysis are as follows:

SWOT analysis. SWOT analysis is a method of assessing the strengths (Strengths), weaknesses (Weaknesses), opportunities (Opportunities) and threats (Threats) of an enterprise, which can be used to analyze the internal and external environment of itself and the benchmarking enterprise, so as to find out its own competitive advantages and disadvantages, as well as the competitive advantages and disadvantages of the benchmarking enterprise.

4P analysis. 4P analysis is a method of analyzing the product (Product), price (Price), channel (Place) and promotion (Promotion) of an enterprise, which can be used to analyze the marketing mix of itself and the benchmark enterprise, so as to find out the marketing advantages and disadvantages of itself and the benchmark enterprise, as well as the differences and similarities of marketing strategies.

Porter's Five Forces Model. Porter's five forces model is a method of analyzing the competitive structure and strength of the industry, which can be used to analyze the five competitive forces in the industry, namely, industry benchmark enterprises, potential entrants, substitutes, suppliers and buyers, so as to find out the competitive advantages and disadvantages of the industry, as well as the attractiveness and profitability of the industry.

Porter's value chain model. Porter's value chain model is a method to analyze the value creation process and value activities of an enterprise, which can be used to analyze the main value activities and auxiliary value activities of an enterprise, so as to find out the value advantages and disadvantages of the enterprise, as well as the differences and similarities of the value chain.

Porter diamond model. The Porter Diamond Model is a method of analyzing the competitive advantages of a country or region. It can be used to analyze the four decisive factors of a country or region, namely production factors, demand conditions, related and supporting industries, corporate strategy, structure and competition, and Two auxiliary factors, namely government and opportunities, so as to find out the competitive advantages and disadvantages of the country or region, as well as the differences and similarities of the competitive environment.

Steps of Benchmarking Enterprise Analysis

The main steps of benchmarking enterprise analysis are as follows:

Identify benchmarking companies. There are many ways to determine the benchmark enterprise, which can be determined according to the similarity of products or services, the similarity of markets or regions, the similarity of customers or target groups, etc. Generally speaking, benchmarking enterprises can be divided into direct benchmarking enterprises and indirect benchmarking enterprises. Direct benchmarking enterprises refer to enterprises that provide the same or similar products or services, and indirect benchmarking enterprises refer to enterprises that provide different products or services that can replace or meet the same needs.

Collect benchmarking enterprise information. There are many ways to collect benchmarking enterprise information, which can be obtained from public and non-public channels. Public channels include official websites, social media, advertisements, news, reports, announcements, recruitment, exhibitions, forums, blogs, comments, reviews, etc. Non-public channels include internal personnel, customers, suppliers, partners, industry experts, consulting agencies, research companies, spyware, etc. The content of collecting benchmarking enterprise information includes the basic situation of benchmarking enterprises, products or services, prices, channels, promotions, brands, finance, performance, strategies, objectives, problems, risks, opportunities, etc.

Analyze benchmarking enterprise information. There are many ways to analyze the information of benchmarking enterprises. According to different purposes and angles, different analysis tools and techniques, such as SWOT analysis, 4P analysis, Porter's five forces model, Porter's value chain model, Porter's diamond model, etc., can be used to sort out, classify, compare, evaluate, summarize and summarize the information of benchmarking enterprises, so as to obtain the advantages and disadvantages of benchmarking enterprises, as well as the strategies and actions of benchmarking enterprises.

Develop a competitive strategy. There are many ways to formulate competitive strategies. You can choose different competitive strategies according to the advantages and disadvantages of yourself and benchmarking enterprises, as well as the needs and changes of the market, such as cost leadership strategy, differentiation strategy, centralization strategy, attack strategy, defense strategy, alliance strategy, adaptation strategy, etc., to improve your own competitiveness and market share, and reduce the competitiveness and market share of benchmarking enterprises.

Implement competitive strategies. There are many ways to implement the competition strategy. According to the selected competition strategy, specific action plans and implementation plans can be formulated, such as product or service improvement or innovation, price adjustment or discount, channel expansion or optimization, promotion increase or innovation, brand building or promotion, etc., to achieve the goals and effects of the competition strategy.

Monitor competitive strategy. There are many ways to monitor the competition strategy. According to the competition strategy implemented, reasonable evaluation indicators and evaluation methods can be set, such as market share, sales, profit margin, customer satisfaction, brand awareness, brand loyalty, etc., to detect and evaluate the implementation and results of the competition strategy, as well as the response and response of the benchmark enterprises, so as to adjust and optimize the competition strategy in time.

Tools for Benchmarking Enterprise Analysis

There are several tools for benchmarking enterprise analysis:

Benchmarking Enterprise Matrix. The benchmarking enterprise matrix is a tool used to compare the performance and level of oneself and benchmarking enterprises in different aspects, and can be used to analyze the strengths and weaknesses of oneself and benchmarking enterprises, as well as the differences and similarities of benchmarking enterprises. The benchmarking enterprise matrix can be in the form of tables or graphs, and can be constructed according to different dimensions and indicators, such as product or service, price, channel, promotion, brand, finance, performance, strategy, objectives, etc.

Benchmarking enterprise map. The benchmarking enterprise map is a tool used to show the relative position and relationship between itself and the benchmarking enterprise in the market, and can be used to analyze the competitive positioning and competition mode of itself and the benchmarking enterprise, as well as the structure and dynamics of the market. Benchmarking enterprise maps can be in the form of two-dimensional or three-dimensional coordinate maps, which can be constructed according to different dimensions and indicators, such as market share, market growth, product or service quality, price, innovation, differentiation, etc.

Benchmarking enterprise analysis. Benchmarking enterprise analysis is a tool used to deeply understand the internal situation and external environment of benchmarking enterprises. It can be used to analyze the resources, capabilities, technology, innovation, culture, values, vision, mission, goals, strategies, actions, problems, risks, opportunities, etc. of benchmarking enterprises, so as to discover the core competitiveness and potential loopholes of benchmarking enterprises. The form of benchmarking enterprise analysis can be text or graphics, and the benchmarking enterprise analysis can be constructed according to different angles and levels, such as SWOT analysis, Porter value chain model, Porter diamond model, etc.

The Case of Benchmarking Enterprise Analysis

The examples of benchmarking enterprises are as follows:

Benchmarking firm analysis in the field of industry research by champ consulting. Shangpu Consulting is a consulting company specializing in industry research, market research, investment and financing consulting, IPO listing consulting and other services. Its main benchmarking companies in the field of industry research include the following:

McKinsey & Company. McKinsey & Company is one of the world's leading management consulting firms, and its strength in the field of industry research is its extensive industry experience and expertise, as well as its extensive industry network and resources, which can provide clients with in-depth industry insights and strategic advice. Its disadvantage in the field of industry research is the high price of its services, as well as the wide range of its services, which may lack pertinence and detail.

Bain & Co. Bain & Company is a world-renowned strategic consulting firm. Its strength in the field of industry research is its strong data analysis and modeling capabilities, as well as innovative methods and tools, which can provide customers with quantitative industry analysis and forecasting. Its disadvantage in the field of industry research is that the focus of its services is more on the strategic level than on the implementation level, and the customers it serves are more concentrated in large enterprises than small and medium-sized enterprises.

Roland Berger. Roland Berger is a management consulting company focusing on the Chinese market. Its advantage in the field of industry research is that it has deep insight and understanding of the Chinese market, as well as good cooperative relations with the Chinese government and enterprises, and can provide customers with customized Industry research and consulting services. Its disadvantages in the field of industry research are the narrow scope of its services, which are mainly concentrated in the Chinese market, and the quality and efficiency of its services may be affected by the uncertainty and complexity of the Chinese market.

Analysis of competitive strategy in the field of industry research by champ consulting. Based on the results of the benchmarking firm analysis, the competitive strategy of Champu Consulting in the field of industry research can be as follows:

Learn from McKinsey & Company's industry experience and expertise to enhance the depth and breadth of your industry research and the value and impact of your industry insights.

Learn from Bain's data analysis and modeling capabilities to improve the accuracy and reliability of your industry analysis, as well as the scientific and practical nature of your industry forecasts.

Learn from Roland Berger's insight and understanding of the Chinese market to improve the pertinence and adaptability of its own industry research, as well as the customization and satisfaction of industry consulting.

Strengthen its own differentiated advantages, such as providing cost-effective industry research services, and providing diversified industry research fields, such as investment and financing consulting, IPO listing consulting, etc., to meet the different needs of different customers.

Looking for their own breakthrough points, such as exploring new industry research markets, such as Southeast Asia, Africa, etc., and developing new industry research products, such as industry research reports, industry research databases, etc., to increase their market share and profitability.