Purpose of 1. Competitor Research

The purpose of competitor research is to help companies develop effective competitive strategies to gain an advantage in the market. Specifically, competitor research can help companies achieve the following objectives:

Understand the basic situation of competitors, such as size, history, organizational structure, business scope, product line, service content, customer group, market share, revenue, profit, etc., so as to evaluate the strength and position of competitors.

Understand the strategic direction of competitors, such as vision, mission, values, goals, strategic choices, strategic execution, strategic evaluation, etc., so as to reveal the strategic intention and logic of competitors.

Understand the behavioral characteristics of competitors, such as marketing, product innovation, channel expansion, pricing strategy, promotional activities, customer relations, partners, social responsibility, etc., so as to analyze the behavior patterns and effects of competitors.

Understand the development trends of competitors, such as market dynamics, industry changes, technological progress, policy impact, risk factors, opportunities and challenges, etc., so as to predict the development prospects and potential of competitors.

Understand the competitive situation of their own enterprises, such as market positioning, competitive advantages, competitive disadvantages, competitive space, competitive obstacles, competitive threats, etc., so as to determine their own enterprise's competitive strategy and action plan.

Methods of 2. competitor research

There are several main methods of competitor research:

Desktop research method: by collecting and analyzing competitors' public information, such as official websites, social media, news reports, industry reports, financial statements, recruitment information, patent applications, etc., to obtain first-hand information about competitors.

Field visit method: by personally or entrusting a third party to the competitor's office location, production base, sales outlets, etc. to conduct field visits, observe and record the actual situation of the competitor, such as facilities and equipment, personnel quality, workflow, product quality, service level, etc.

Questionnaire survey method: through the design and distribution of questionnaires, to the competitor's customers, suppliers, partners, employees and other relevant personnel to collect and feedback the relevant information of competitors, such as customer satisfaction, supplier evaluation, partnership, employee benefits.

Interview survey method: through face-to-face or telephone interviews with competitors' customers, suppliers, partners, employees and other relevant personnel, in-depth understanding and discussion of competitors' relevant information, such as market demand, product characteristics, price strategy, promotional activities, customer relationships, cooperation intentions, etc.

Content of 3. competitor research

The competitor research mainly includes the following aspects:

Enterprise profile: including competitor's enterprise name, registered capital, establishment time, legal representative, registered address, contact information, organizational structure, business scope, product line, service content, customer group, market share, revenue, profit and other basic information.

Development history: including competitors' entrepreneurial stories, development stages, major events, milestones, honorary awards, social contributions and other development information.

Strategic direction: including the competitor's vision, mission, values, goals, strategic choices, strategic implementation, strategic assessment and other strategic information.

Core competitiveness: including the core resources, core competence, core technology, core team, core culture, core brand and other core information of competitors.

Brand performance: including the competitor's brand name, brand identity, brand positioning, brand image, brand communication, brand awareness, brand loyalty and other brand information.

Product strategy: including competitors' product design, product function, product performance, product quality, product innovation, product differentiation, product portfolio and other product information.

Channel strategy: including channel type, number of channels, channel coverage, channel management, channel cooperation, channel expansion, channel efficiency and other channel information of competitors.

Price strategy: includes competitors' price level, price structure, price change, price elasticity, price impact, price competition, price concessions and other price information.

Promotion strategy: including competitors' promotion objectives, promotion methods, promotion content, promotion time, promotion frequency, promotion effect, promotion evaluation and other promotion information.

Customer strategy: including competitors' customer needs, customer satisfaction, customer loyalty, customer segmentation, customer relationship, customer service, customer retention and other customer information.

Cooperation strategy: including the competitor's cooperation purpose, cooperation object, cooperation mode, cooperation content, cooperation effect, cooperation risk, cooperation management and other cooperation information.

Innovation strategy: including competitors' innovation ideas, innovation models, innovation projects, innovation inputs, innovation outputs, innovation benefits, innovation evaluation and other innovation information.

Steps to 4. competitor research

The main steps of competitor research are as follows:

Determine the research objectives: clarify the purpose, scope, content, standards and duration of the research, formulate research plans and budgets, and assign research tasks and responsibilities.

Select research methods: according to the research objectives and resources, select the appropriate research methods, such as desktop research method, field investigation method, questionnaire survey method, interview survey method, network survey method, etc., design research tools and processes.

Collect research data: collect relevant data of competitors through the implementation of research methods, such as enterprise profile, development history, strategic direction, core competitiveness, brand performance, product strategy, channel strategy, price strategy, promotion strategy, customer strategy, cooperation strategy, innovation strategy, etc.

Analysis of research data: through the use of statistical analysis, comparative analysis, causal analysis, trend analysis, advantages and disadvantages analysis, SWOT analysis and other methods, analyze the data of competitors, reveal the strength and status of competitors, strategic intentions and logic, behavior patterns and effects, development prospects and potential.

Preparation of research reports: preparation of competitor research reports by collating and summarizing the analysis results, including research background, research objectives, research methods, research data, research analysis, researchConclusion, research recommendations, etc., as well as related charts, attachments, etc.

Submit research reports: submit research reports of competitors through appropriate means, such as emails, meetings, presentations, etc., report research results to relevant decision makers, managers, colleagues, etc., obtain feedback and evaluation, and make improvements and improvements.

Insights from 5. Competitor Research

Competitor research can provide the following insights for companies:

Understand your own strengths and weaknesses, find out your own gaps and shortcomings, improve your own competitiveness and efficiency, and enhance your own confidence and determination.

Learn from the advantages and strengths of competitors, learn from the experience and practices of competitors, innovate their own products and services, and enhance their own brand and image.

Avoid the shortcomings and weaknesses of competitors, prevent threats and challenges from competitors, formulate their own responses and precautions, and protect their own interests and rights.

Discover the opportunities and potential of competitors, seize the market and customers of competitors, formulate their own breakthroughs and surpassing, and realize their own growth and development.

Recommendations 6. competitor research

The main recommendations of the competitor survey are the following:

Establish a normalized mechanism for competitor research, regularly collect, analyze and update relevant information about competitors, keep abreast of the dynamics and changes of competitors, and be targeted and prepared.

Establish a professional team of competitor research, equipped with experienced and capable researchers, adopt scientific and effective research methods, ensure the quality and accuracy of research, and avoid misleading and deviation.

Establish the principle of legalization of competitor research, abide by relevant laws and ethics, respect the privacy and rights of competitors, avoid using improper and illegal means, and prevent disputes and risks.

Establish practical objectives for competitor research, select appropriate research content and scope according to your own needs and purposes, avoid too much and too little information, and improve the efficiency and value of research.

The innovative thinking of establishing competitor research not only pays attention to the current situation and problems of competitors, but also pays attention to the future and possibility of competitors. It not only imitates the success and advantages of competitors, but also surpasses the limitations and disadvantages of competitors.

Conclusion

Competitor research is an important market research activity, which can help companies understand themselves and their competitors, develop effective competitive strategies, and improve market competitiveness. Taking Shangpu Consulting Company as an example, this paper introduces the purpose, method, content and steps of competitor research, as well as the enlightenment and suggestions obtained from competitor research, hoping to be helpful to the competitor research in the consulting industry.