Significance and content of 1. competitor research

Competitor research refers to the process of systematically collecting, sorting, analyzing and evaluating the existing or potential competitors in the industry in which the enterprise is located, so as to obtain the basic situation, strategic intention, core competitiveness, market performance, advantages and disadvantages, development trend and other information of the competitors, so as to provide the basis for the enterprise to formulate its own strategy and marketing strategy.

The significance of competitor research is mainly reflected in the following aspects:

Help enterprises understand the market environment and competitive situation, grasp market opportunities and threats, improve market sensitivity and adaptability.

Help enterprises to identify their own strengths and weaknesses, play their own core competitiveness, enhance their competitive advantage.

Help enterprises to analyze the strategic intentions and action plans of competitors, predict the future trends of competitors, and formulate effective competitive strategies and countermeasures.

Help enterprises learn from the successful experience and lessons of competitors, learn from the excellent practices and innovative ideas of competitors, and promote their own continuous improvement and innovation.

The content of competitor research generally includes the following aspects:

Basic information about competitors, such as corporate background, development history, organizational structure, management team, corporate culture, mission vision, values, etc.

Competitor's strategic situation, such as strategic objectives, strategic direction, strategic choice, strategic implementation, strategic assessment, etc.

The core competitiveness of competitors, such as resource ability, technical ability, innovation ability, brand ability, channel ability, service ability, cost ability, quality ability, etc.

Competitor's market conditions, such as market positioning, market share, market growth, market distribution, market segmentation, market demand, market satisfaction, etc.

The marketing situation of competitors, such as product strategy, price strategy, channel strategy, promotion strategy, advertising strategy, public relations strategy, network strategy, etc.

Competitor's financial situation, such as operating income, operating costs, operating profit, net profit, assets and liabilities, cash flow, financial ratios, etc.

Development trends of competitors, such as development goals, development strategies, development plans, development difficulties, development opportunities, development threats, etc.

Challenges 2. Competitor Research

Competitor research is a complex and arduous task that requires a lot of time, energy and resources. At the same time, it also faces many difficulties and challenges, mainly in the following aspects:

Difficulty in collecting information. Competitors' information is often sensitive, confidential, dynamic and not easy to obtain. It needs to be collected through various channels and means, such as online search, industry reports, media reports, market research, customer interviews, employee interviews, potential entrants interviews, supplier interviews, distributor interviews, expert interviews, mysterious customers, participating in bidding, participating in exhibitions, purchasing competing products, analyzing samples, etc. The effectiveness and reliability of these channels and means are different. It is necessary to choose and judge according to the actual situation. At the same time, we should also pay attention to abide by business ethics and legal norms to avoid infringing upon the legitimate rights and interests of competitors.

Difficulty of information analysis. The information of competitors is often complex, scattered, vague and inconsistent, which is not easy to analyze. It needs to be analyzed through a variety of methods and tools, such as SWOT analysis, Porter's five forces analysis, value chain analysis, strategic group analysis, market community analysis, competitive advantage analysis, competitive map analysis, strategic simulation analysis, scenario analysis, sensitivity analysis, etc. The applicability and effectiveness of these methods and tools vary, and they need to be selected and applied according to the actual situation. At the same time, attention should be paid to avoiding subjective assumptions and prejudices, and maintaining an objective and rational attitude.

Difficulty in the application of information. The ultimate purpose of competitors' information is to guide the strategic and marketing decisions of the enterprise, but how to translate information into action, how to formulate appropriate strategies based on information, how to implement effective actions based on strategies, and how to evaluate the value of information based on actions, these are all difficult problems that need to be solved. The application of information needs to consider the internal and external environment of the enterprise, the objectives and resources of the enterprise, the capabilities and risks of the enterprise, the organization and culture of the enterprise, the implementation and feedback of the enterprise, and the innovation and learning of the enterprise.

Coping Strategies for 3. Competitor Research

In response to the challenges of competitor research, companies can adopt the following strategies:

Establish systems and mechanisms for information collection. Enterprises should establish a department or team responsible for competitor research, clarify responsibilities and division of labor, formulate information collection plans and processes, determine information collection channels and means, allocate information collection resources and budgets, establish information collection standards and evaluation, and form information collection systems and mechanisms.

Establish methods and tools for information analysis. Enterprises should establish a department or team dedicated to competitor analysis, clarify responsibilities and division of labor, develop plans and processes for information analysis, determine methods and tools for information analysis, allocate resources and budgets for information analysis, establish standards and evaluations for information analysis, and form methods and tools for information analysis.

Build bridges and platforms for information applications. Enterprises should establish a department or team dedicated to competitors' information applications, clarify responsibilities and division of labor, develop plans and processes for information applications, determine bridges and platforms for information applications, allocate resources and budgets for information applications, establish standards and evaluations for information applications, and form bridges and platforms for information applications.