Definition and importance of competitor research

Competitor research refers to the process of collecting, analyzing and evaluating competitors' information to understand competitors' strategies, capabilities, strengths, weaknesses, dynamics and expectations, so as to provide a basis and reference for enterprises to formulate their own strategies and marketing strategies. Competitor research is an important part of market analysis and strategic planning, which can help companies achieve the following objectives:

Understand the competitive environment and competitive situation, identify competitors and competitive advantages, determine competitive objectives and scope;

Analyze the advantages and disadvantages of competitors, discover market opportunities and threats, formulate effective competitive strategies, and improve the competitiveness and profitability of enterprises;

Predict the strategy and dynamics of competitors, evaluate the reaction and coping strategies of competitors, formulate corresponding contingency measures, and enhance the flexibility and coping ability of the enterprise;

Continuously follow up and update competitor information, monitor competitor's behavior and performance, adjust and optimize competitive strategies, and maintain the company's competitive advantage and market position.

Champ Consulting's competitor research methodology and process

Shangpu Consulting is a well-known independent third-party research and investment and financing consulting agency in China, dedicated to providing professional solutions for corporate strategic decision-making. The main business of Shangpu Consulting includes industry research, market research, investment and financing consulting, IPO listing consulting, etc. Champ Consulting's competitors are mainly in the following categories:

Other independent third-party research and investment and financing consulting agencies, such as Analysys, iResearch, Sadie, Zhongyikang, Horizon Research, Washington Consulting, McKinsey, Boston Consulting, Bain Consulting, etc;

Professional industry associations, research institutes, think tanks, media, etc., such as China Electronics Information Industry Development Research Institute, China Academy of Information and Communications Technology, Chinese Academy of Sciences, Chinese Academy of Social Sciences, Xinhua News Agency, People's Daily, etc;

Companies in the same industry or related industries with customers, such as Baidu, Alibaba, Tencent, Huawei, Xiaomi, Jingdong, Meituan, Didi, etc.

When conducting competitor research, Champ Consulting mainly uses the following methods and processes:

Determine the purpose and scope of the research, and identify the type, number and focus of the competitors to be investigated according to the customer's needs and problems;

Collect competitors' information, use a variety of channels and means, such as network search, database query, industry reports, media reports, questionnaires, interviews, on-site visits, etc., to obtain competitors' basic information, business situation, strategic planning, financial situation, market performance, customer evaluation and other information;

Analyze the information of competitors, use a variety of tools and models, such as SWOT analysis, Porter's five forces analysis, value chain analysis, core competitiveness analysis, market share analysis, market growth rate analysis, Boston matrix, etc., to sort out, summarize, compare and evaluate the information of competitors, find out the advantages and disadvantages of competitors, find out the opportunities and threats of the market, formulate competitive strategies, and put forward suggestions and solutions;

Write a competitor research report, according to the standard format and structure, the competitor research process, results,Conclusion, suggestions and other content, in the form of text, charts, data, etc., clearly, completely and accurately presented to customers;

Continuously follow up and update competitor information, collect, analyze and evaluate the latest information of competitors on a regular or irregular basis according to market changes and customer feedback, adjust and optimize competitive strategies in a timely manner, and maintain the effectiveness and timeliness of competitor research.

Champ Consulting's Competitor Research Cases and Results

In order to demonstrate the ability and effectiveness of the competitor research of Shangpu Consulting, the following is a brief introduction to the case of competitor research services provided by Shangpu Consulting for a new energy vehicle company (hereinafter referred to as Company A).

Research Background

Company A is a new energy vehicle company established in 2018. It mainly produces and sells high-end smart electric vehicles. It currently has two models, A1 and A, which use advanced battery technology, autonomous driving technology and artificial intelligence technology., Has been favored by consumers. Company A's goal is to achieve a leading position in the Chinese market by 2025, as well as expansion in the global market. In order to achieve this goal, Company A needs to conduct in-depth research on its competitors in order to develop appropriate strategies and marketing strategies.

Research objectives and scope

Based on Company A's needs and questions, Champ Consulting has identified the following objectives and scope of competitor research for Company A:

Research objectives: analyze the competitive environment and competitive situation of Company A in China's new energy vehicle market, identify Company A's main competitors and competitive advantages, find market opportunities and threats, formulate effective competitive strategies, and improve Company A's competitiveness and profitability;

Research scope: select five competitors of company a in China's new energy vehicle market as research objects, namely Tesla, BYD, Weilai, Xiaopeng and ideal, analyze the basic information, business situation, strategic planning, financial situation, market performance, customer evaluation and other aspects of these competitors, compare the advantages and disadvantages of these competitors with company a, and predict the strategies and trends of these competitors, evaluate the reaction and coping strategies of these competitors, and put forward corresponding suggestions and solutions.

Research results andConclusion

By collecting and analyzing competitor information, Champ Consulting has produced the following findings andConclusion：

Company A's competitive environment and competitive situation in China's new energy vehicle market: China's new energy vehicle market is a high-speed growth, highly competitive and highly innovative market, which has great potential and prospects due to the support of the government, the recognition of consumers, the progress of technology and other factors. As an emerging new energy vehicle company, Company A has certain technical advantages and brand influence, but in terms of market share, channel coverage, service system, cost control, etc., there are still large gaps and challenges. It needs to compete fiercely with many competitors, but also faces market opportunities and threats.

Company A's main competitors and competitive advantages: Company A's main competitors are Tesla, BYD, Weilai, Xiaopeng and Ideal. These competitors have a high market share in China's new energy vehicle market and have strong advantages in technical capabilities, brand awareness, channel network, service quality, etc., which pose greater competitive pressure on Company A. Company A's competitive advantages are mainly reflected in the following aspects: First, Company A's products are positioned as high-end smart electric vehicles with high performance, quality, design and innovation, which can meet the needs and preferences of high-end consumers; Second, Company A's battery technology, autonomous driving technology and artificial intelligence technology are at the leading level in the industry, which can provide higher safety, comfort and convenience, and lower energy consumption and maintenance costs; third, Company A's brand image is young, fashionable, avant-garde and personalized, which can attract more young consumers and trendy consumers and form a strong brand loyalty and word-of-mouth effect.

Market opportunities and threats: Company A faces the following opportunities and threats in China's new energy vehicle market: First, market opportunities mainly come from government policy support, consumer awareness of environmental protection, technological innovation and breakthroughs, etc. These factors will promote the continuous growth and development of China's new energy vehicle market and provide Company A with greater market space and development potential; second, the market threat mainly comes from the competitive pressure of competitors, changes in consumer demand, industry norms and supervision, these factors will increase the operating risk and cost pressure of Company A, limit the market expansion and business growth of Company A.

Suggestions and solutions for competitive strategies: according to the results of competitor research andConclusionShangpu Consulting has put forward the following suggestions and solutions for Company A: First, strengthen product differentiation and innovation, highlight Company A's technical advantages and brand characteristics, and enhance Company A's product competitiveness and market share; The second is to expand the coverage and depth of channels, establish and optimize Company A's sales network and service system, and improve Company A's channel efficiency and customer satisfaction; the third is to reduce the level and structure of costs, realize the economies of scale and learning effect of Company A, and enhance the cost competitiveness and profitability of Company A; the fourth is to enhance the influence and loyalty of the brand, carry out and strengthen the brand promotion and marketing activities of Company A, and improve the brand awareness and word-of-mouth effect of Company A.

调研效果和评价

The competitor research service provided by Shangpu Consulting for Company A has been highly recognized and appreciated by Company A. Company A said that the competitor research report provided Company A with comprehensive, in-depth, professional and valuable information and suggestions, which helped Company A better understand the competitive environment and competitive situation of China's new energy vehicle market, the main competitors and competitive advantages of A company are identified, the opportunities and threats of the market are found, and effective competitive strategies are formulated to improve the competitiveness and profitability of A company. Company A stated that Shangpu Consulting is a trustworthy and cooperative investment and financing consulting agency, and hopes to maintain a long-term cooperative relationship with Shangpu Consulting to jointly promote the development and progress of China's new energy automobile industry.

Summary

This article introduces Champ Consulting: the purpose and effect of competitor research, as well as the methods and processes of how Champ Consulting provides professional competitor research services to customers, and the impact of competitor research on the business development and customer satisfaction of Champ Consulting. This paper takes the case of the competitor research service provided by Shangpu Consulting for a new energy automobile enterprise as an example, and shows the ability and effect of the competitor research of Shangpu Consulting, as well as the evaluation and feedback of customers. The purpose of this article is to provide readers with an overview and reference to the competitor research of Champ Consulting, hoping to be helpful and enlightening to readers.