Purpose of 1. Competitor Research

Competitor research is a consulting service that collects, analyzes and evaluates competitors' information to understand competitors' strategies, capabilities, strengths, weaknesses, behaviors, trends, etc., so as to provide customers with targeted suggestions and solutions.

The main objectives of competitor research are as follows:

Understand the competitive environment. Competitor research can help companies fully understand their market environment, including market size, market structure, market trends, market demand, market opportunities, etc., so as to provide a basis for strategic decision-making.

Discover competitive strengths and weaknesses. Competitor research can help companies analyze their own and competitors' strengths and weaknesses in depth, including resources, capabilities, technology, products, services, brands, channels, prices, promotion and other aspects, so as to provide guidance for the company's competitive strategy.

Develop effective competitive strategies. Competitor research can help companies develop different competitive strategies for different competitors, including differentiation strategies, focusing strategies, leading strategies, and following strategies, thus supporting their market competition.

Find the competition breakthrough. Competitor research can help companies find the weaknesses and loopholes of competitors, as well as their own advantages and opportunities, so as to provide direction for the market breakthrough of enterprises.

Content of 2. competitor research

The competitor research mainly includes the following aspects:

Enterprise Profile. Including the basic information, development process, organizational structure, management team, financial situation, strategic objectives, corporate culture, etc.

product portfolio. Including product types, functions, characteristics, quality, technology, design, innovation, life cycle, etc.

price strategy. Including price level, range, structure, change, elasticity, cost, profit, etc.

Channel strategy. Including the type, quantity, distribution, coverage, control, service, efficiency, etc.

Promotion strategy. Including the promotion of the target, content, form, media, frequency, effect, etc.

Competitiveness analysis. Including strengths and weaknesses, threats and opportunities, core competencies and core weaknesses.

Coping strategies of competitors. This includes competitors' analysis of themselves and the market, competitors' strategic choices, and competitors' action plans.

Methods and procedures for 3. competitor research

There are several main methods of competitor research:

Desktop research. Refers to the collection and collation of competitors' public information, such as official websites, annual reports, news, social media, industry reports, market research reports, etc., to obtain basic information and general trends about competitors.

Field trips. It refers to the field observation and experience by personally or entrusting a third party to the competitor's business premises, sales outlets, production bases, etc., to obtain the specific situation and deep dynamics of the competitor.

In-depth interviews. Refers to obtaining hidden information and key developments of competitors through in-depth communication and exchanges with competitors' insiders, partners, customers, suppliers, industry experts, etc.

Simulation analysis. Refers to the systematic analysis and evaluation of competitors' information through the use of various analytical tools and models, such as SWOT analysis, Porter's five forces analysis, value chain analysis, VRIO analysis, etc., to obtain competitors' competitiveness and strategic direction.

The main steps of competitor research are as follows:

Determine the scope and type of competitors. According to the market positioning, product category, target customers, geographical coverage and other criteria, determine the scope and type of competitors to be investigated, such as direct competitors, potential competitors, substitute competitors, etc.

Design the competitor research plan. Determine the competitor research plan according to the purpose of the research. According to the purpose, content, method and budget of the research, design the competitor research plan, including the research time, personnel, resources, tools, processes, etc.

Execute the competitor survey plan. According to the research plan, implement the competitor research plan, including collecting competitor information, analyzing competitor's competitiveness, and formulating competitor's coping strategies.

Output competitor research report. Based on the results of the survey, output a report on the competitor's survey, including the purpose, methodology, process, and,Conclusionrecommendations, etc.

Case Study of 4. Competitor Research

In order to better illustrate the value and significance of competitor research, we analyze the process and effect of competitor research in the light of the actual case of Champ Consulting.

Case 1: A competitor survey of a home appliance company.

A home appliance company is one of the largest home appliance manufacturers in China, with a number of well-known brands and product lines, covering TVs, refrigerators, washing machines, air conditioners, microwave ovens and other fields. The company is facing fierce competition from home and abroad, especially in the high-end market, where its competitiveness is relatively weak and its market share has declined. The company hopes to find a breakthrough to enhance its competitiveness and increase its share of the high-end market through competitor research.

Champ Consulting provides the company with a competitor research service, which consists of the following steps:

Determine the scope and type of competitors. According to the company's market positioning and product categories, Shangpu Consulting has determined the scope and types of its main competitors, including domestic Haier, Midea, Gree, etc., as well as foreign Samsung, LG, Siemens, etc.

Design the scheme of competitor research. According to the research purpose and budget of the enterprise, Shangpu Consulting has designed the competitor research plan, including the time, personnel, resources, tools and processes of the research. Champ Consulting uses a variety of methods such as desktop research, field visits, in-depth interviews and simulation analysis to collect and analyze competitor information.

Execute the competitor survey plan. According to the research plan, Shangpu Consulting implemented the competitor research plan, including collecting competitor information, analyzing competitor's competitiveness, and formulating competitor's coping strategies. Shangpu Consulting conducted a comprehensive comparison and evaluation of competitors from the aspects of enterprise profile, product portfolio, price strategy, channel strategy, promotion strategy, etc., and found the strengths and weaknesses, threats and opportunities, core competitiveness and core weaknesses of competitors, as well as their own strengths and weaknesses, threats and opportunities, core competitiveness and core weaknesses. Shangpu Consulting also used SWOT analysis, Porter five-force analysis, value chain analysis, VRIO analysis and other analytical tools and models to systematically analyze and evaluate the information of competitors, and obtain the competitiveness and strategic direction of competitors.

Output competitor research report. Based on the results of the survey, Champu Consulting exported a report on the competitor's survey, including the purpose, methodology, process, and,Conclusionrecommendations, etc. Champ Consulting made the following recommendations for the company:

Enhance the innovation ability of products, develop products that are more in line with the needs of the high-end market, and enhance the added value and differentiation of products;

Adjust the price strategy, according to different products, markets and customers, formulate a reasonable price range and structure, improve the price competitiveness and profit margin;

Optimize the channel strategy, expand the channel coverage and control of the high-end market, improve the service and efficiency of the channel, and increase the loyalty and satisfaction of the channel;

Strengthen promotion strategies, enhance brand awareness and reputation, increase product exposure and influence, and enhance product attractiveness and trust.

After receiving the report of the competitor survey of Shangpu consulting, the enterprise expressed high recognition and satisfaction with the service of Shangpu consulting, and said that it would formulate and implement corresponding competitive strategies according to the suggestions of Shangpu consulting, so as to enhance its competitiveness and increase its share of high-end market.

Case 2: A survey of competitors of a financial enterprise.

A financial enterprise is one of the largest financial service providers in China, with multiple business sectors and product lines, covering banking, insurance, securities, funds, trust and other fields. The enterprise is facing fierce competition from home and abroad, especially in the field of Internet finance, its competitiveness is relatively weak, and its market share has declined. The company hopes to find a breakthrough to enhance its competitiveness through competitor research and increase its share of the Internet financial market.

Champ Consulting provides the company with a competitor research service, which consists of the following steps:

Determine the scope and type of competitors. According to the company's market positioning and product categories, Shangpu Consulting has determined the scope and types of its main competitors, including domestic Ant Group, Tencent Finance, JD Finance, etc., as well as foreign PayPal, Visa, MasterCard, etc.

Design the scheme of competitor research. According to the research purpose and budget of the enterprise, Shangpu Consulting has designed the competitor research plan, including the time, personnel, resources, tools and processes of the research. Champ Consulting uses a variety of methods such as desktop research, field visits, in-depth interviews and simulation analysis to collect and analyze competitor information.

Execute the competitor survey plan. According to the research plan, Shangpu Consulting implemented the competitor research plan, including collecting competitor information, analyzing competitor's competitiveness, and formulating competitor's coping strategies. Shangpu Consulting conducted a comprehensive comparison and evaluation of competitors from the aspects of enterprise profile, product portfolio, price strategy, channel strategy, promotion strategy, etc., and found the strengths and weaknesses, threats and opportunities, core competitiveness and core weaknesses of competitors, as well as their own strengths and weaknesses, threats and opportunities, core competitiveness and core weaknesses. Shangpu Consulting also used SWOT analysis, Porter five-force analysis, value chain analysis, VRIO analysis and other analytical tools and models to systematically analyze and evaluate the information of competitors, and obtain the competitiveness and strategic direction of competitors.

Output competitor research report. Based on the results of the survey, Champu Consulting exported a report on the competitor's survey, including the purpose, methodology, process, and,Conclusionrecommendations, etc. Champ Consulting made the following recommendations for the company:

Enhance the innovation ability of products, develop products that are more in line with the needs of the Internet financial market, and enhance the added value and differentiation of products;

Adjust the price strategy, according to different products, markets and customers, formulate a reasonable price range and structure, improve the price competitiveness and profit margin;

Optimize the channel strategy, expand the channel coverage and control of the Internet financial market, improve the service and efficiency of the channel, and increase the loyalty and satisfaction of the channel;

Strengthen promotion strategies, enhance brand awareness and reputation, increase product exposure and influence, and enhance product attractiveness and trust.

After receiving the survey report of the competitors of Shangpu consulting, the enterprise expressed high recognition and satisfaction with the service of Shangpu consulting, and said that it would formulate and implement corresponding competition strategies according to the suggestions of Shangpu consulting, so as to enhance its competitiveness and increase its share of Internet financial market.