Definition and purpose of 1. competitor research

Competitor research is a process of systematically collecting, analyzing and utilizing competitive intelligence, which refers to any information related to competitors, including their products, prices, market shares, marketing strategies, financial situation, innovation ability, organizational structure, human resources, culture, values, vision, goals, etc. The purpose of competitor research is to help companies understand their position in the competitive environment, assess their strengths and weaknesses, identify potential opportunities and threats, develop effective strategies and action plans, and improve competitiveness and profitability.

The importance of competitor research is that it can help companies achieve the following objectives:

Improve market sensitivity, timely discover and seize market changes and demand opportunities, and avoid being seized by competitors or lagging behind market development;

Improve strategic flexibility, adjust their strategies and actions in a timely manner according to the behavior and trends of competitors, and enhance their competitive advantages or reduce their competitive disadvantages;

Improve innovation ability, through the analysis of competitors' products, services, technologies, processes, models, etc., find their own shortcomings and room for improvement, stimulate their own innovative thinking and action, improve their own product quality and service level;

Improve risk management capabilities, through the analysis of competitors' financial status, legal issues, social responsibility, reputation, etc., predict the strength of competitors and possible crises, formulate contingency plans and countermeasures, and reduce their own risk exposure and losses.

The process and method of 2. competitor research.

The process of competitor research generally includes the following five steps:

Identify competitors: Competitors are companies that provide the same or similar products or services in the same market or industry, meet the same or similar customer needs, and compete for the same or similar market share. There are various methods to determine competitors, for example, according to the substitutability of products or services, competitors are divided into direct competitors, indirect competitors and potential competitors; according to the division of the market, competitors are divided into overall competitors, subdivision competitors and geographical competitors; according to the evaluation of competitiveness, competitors are divided into primary competitors, secondary competitors and marginal competitors. The purpose of identifying competitors is to narrow the scope of competitor research, select the most important and influential competitors as the object of research, and avoid wasting time and resources on irrelevant or unimportant competitors.

Collecting competitor information: Competitor information refers to any data, facts, opinions, evaluations, predictions, etc. related to competitors, which can be obtained from a variety of channels and sources, including public and non-public, formal and informal, active and passive, internal and external, etc. There are many ways to collect competitors' information, for example, using the Internet, databases, newspapers, magazines, books, reports, papers, etc. to obtain public information; using surveys, interviews, observations, experiments, tests, simulations, etc. to obtain non-public information; using customers, suppliers, distributors, partners, employees, former employees, industry associations, government agencies, experts, media, the source of information obtained by competitors themselves. The purpose of collecting competitor information is to obtain as much, accurate, timely, useful, and legal information as possible, and to provide sufficient data and basis for subsequent analysis and evaluation.

Analysis of competitor information: Competitor information analysis refers to the collation, induction, classification, comparison, interpretation, evaluation, etc. of the collected competitor information in order to extract the competitor's characteristics, strengths and weaknesses, strategic intentions, future behavior, etc. There are many ways to analyze competitors' information, for example, using SWOT analysis to evaluate competitors' strengths, weaknesses, opportunities and threats; Using the five-force model to evaluate the competitiveness, attractiveness and profitability of competitors' industries; Using value chain analysis to evaluate competitors' core competitiveness, cost structure and profit sources; Using strategic group analysis to evaluate competitors' strategic positioning and target market, competitive way. The purpose of analyzing competitors' information is to extract valuable, meaningful and enlightening information from a large amount of complex and confusing information.

Assessing the strengths and weaknesses and strategic intentions of competitors: Competitor strengths and weaknesses assessment refers to comparing and judging the performance and capabilities of competitors in all aspects, determining the strengths and weaknesses of competitors relative to themselves, and the core competitiveness of competitors And weaknesses. The strategic intention assessment of competitors refers to the analysis and inference of competitors' goals, visions, values, strategic choices, action plans, etc., to determine the strategic direction, focus, priority, motivation, logic, etc. of competitors. There are various methods to evaluate competitors' strengths and weaknesses and strategic intentions, for example, using the competitive advantage matrix to evaluate competitors' market share, growth rate, profit margin, customer satisfaction, brand awareness, product quality, service level, innovation ability, cost efficiency, etc.; using the strategic map to evaluate competitors' financial goals, customer goals, internal process goals, learning and growth goals, and corresponding strategic measures and indicators. The purpose of assessing the strengths and weaknesses and strategic intentions of competitors is to objectively understand and evaluate the strength and intentions of competitors from their own perspective, and to provide reference and basis for subsequent predictions and responses.

Predict the future behavior of competitors: the prediction of the future behavior of competitors refers to the prediction and estimation of the actions and measures that competitors may take in a future period of time, including the markets that competitors may enter or withdraw, products or services launched or withdrawn, price or promotion strategies adjusted or changed, scale or scope of expansion or contraction, partners or objects of cooperation or competition, A rule or law, etc., observed or violated. There are many ways to predict the future behavior of competitors, for example, using scenario analysis, constructing different scenarios according to different assumptions and conditions, and analyzing the possible behavior and results of competitors in each scenario; Using trend analysis, according to the historical data and current situation of competitors, analyze the development trend and change law of competitors, and predict the future performance and level of competitors; Using game analysis, according to the interests and preferences of competitors, analyze the decision-making model and behavior strategy of competitors, and predict the optimal choice and reaction of competitors. The purpose of predicting the future behavior of competitors is to proactively predict and estimate the actions and impacts of competitors from a future perspective, providing a basis and direction for subsequent responses and countermeasures.

Develop coping strategies: coping strategies refer to the strengths and weaknesses of competitors, strategic intentions, future behavior, etc., to develop appropriate strategies and action plans to achieve their goals and interests. There are many ways to formulate coping strategies. For example, using Porter's competitive strategy, according to their competitive advantages, choose cost leadership, differentiation, or centralization strategies to improve their market share, profit margin, or loyalty; using Ansoff's product-market matrix, according to the current situation and development of their products and markets, choose penetration, development, diversification, or differentiation strategies, to improve their product quality, service level, market coverage, or customer satisfaction; to use blue ocean strategy, according to their ability to innovate, choose to create, reshape, expand, or protect the strategy to improve their competitiveness, value, cost, or risk. The purpose of developing coping strategies is to develop and implement effective strategies and actions in a targeted manner in order to achieve one's own goals and interests.

3. Champu Consulting's expertise and experience in competitor research

Shangpu Consulting is a professional management consulting company, providing consulting services in strategy, operation, organization, human resources, market, finance, etc. to help customers improve their performance, enhance their competitiveness and achieve sustainable development. Champu Consulting has rich professional knowledge and experience in competitor research and provides customers with the following services:

Planning and design of competitor research: According to the customer's needs and objectives, Shangpu Consulting formulates the purpose, scope, object, method, time, budget, etc. of competitor research, and provides customers with clear plans and plans for competitor research.

Competitor information collection and analysis: Champ Consulting uses its own professional team, strong network, extensive resources, and efficient tools to collect and analyze large amounts of, accurate, timely, useful, and legitimate competitor information for customers, Provide customers with comprehensive competitor information reports and presentations.

Evaluation of competitors' strengths and weaknesses and strategic intentions: Champu Consulting uses its own professional knowledge, rich experience, and advanced models to evaluate competitors' strengths and weaknesses and strategic intentions for customers, and provide customers with in-depth analysis and explanation of competitors' strengths and weaknesses and strategic intentions.

Predicting the future behavior of competitors: Champ Consulting uses its professional skills, innovative thinking, and scientific methods to predict the future behavior of competitors for customers and provide customers with reliable predictions and estimates of the future behavior of competitors.

Formulation and implementation of coping strategies: Champ Consulting formulates and implements coping strategies for customers according to their goals and interests, and provides suggestions and support for effective coping strategies for customers.

Learning resources and references 4. competitor research

Competitor research is a discipline with both theory and practice. It needs to constantly learn and update knowledge, improve skills and accumulate experience. In order to help interested readers improve their ability and level of competitor research, this article recommend the following learning resources and references:

Books: Competitor Intelligence Analysis (Craig S. Fleisher, Babette E. Bensoussan, Mechanical Industry Press), Competitor Analysis: Strategic Thinking and Action (Liam Fahey, Hugh Courtney, Mechanical Industry Press), Competitor Intelligence: How to Get Information from Competitors and Use It (Leonard M. Fuld, translated by Renmin University of China Press), etc.

Journals: Journal of Competitive Intelligence (Competitive Intelligence Magazine), Competitive Intelligence Review (Competitive Intelligence Review), Quarterly Journal of the Association of Strategic and Competitive Intelligence Professionals (SCIP Quarterly), etc.

Websites: Association of Strategic and Competitive Intelligence Professionals (Strategic and Competitive Intelligence Professionals), International Competitive Intelligence Association (International Association for Intelligence Education), Competitive Intelligence Academy (Academy of Competitive Intelligence), etc.

Courses: Competitor Intelligence Analysis (Coursera), Competitor Analysis (edX), Competitor Intelligence (Udemy), etc.