Purpose of 1. Competitor Research

Competitor research refers to the systematic collection, analysis and evaluation of existing or potential competitors in the industry and market in which an enterprise is located, so as to understand the basic situation, strategic intention, advantages and disadvantages, behavior patterns and future development trends of competitors, so as to provide basis and reference for enterprises to formulate their own strategies and decisions.

The main objectives of competitor research are as follows:

Understand the market environment. Through competitor research, companies can grasp the size, structure, demand, change and development direction of the market, as well as the number, type, distribution and market share of competitors, so as to have a clear understanding of the competitive situation and opportunities in the market.

Discover competitive advantages. Through competitor research, enterprises can compare their own and competitors in products, services, brands, channels, technology, cost, quality, innovation, talent and other aspects of the differences and advantages and disadvantages, so as to find out their own competitive advantages and disadvantages, as well as the advantages and disadvantages of competitors, so as to formulate targeted competitive strategies.

Develop effective competitive strategies. Through competitor research, enterprises can predict the strategic intentions, behavior patterns and future trends of competitors, as well as the impact and threats that competitors may have on themselves, so as to formulate effective competitive strategies to adapt to market changes and respond to competitors, such as differentiation, focus, alliances, acquisitions, cooperation, etc.

Methods of 2. competitor research

There are several main methods of competitor research:

literature analysis. Literature analysis refers to the collection and analysis of competitors' public or semi-public literature, such as annual reports, financial reports, websites, news, advertising, recruitment, patents, papers, etc., to understand the basic situation of competitors, strategic direction, performance status, market activities, technological innovation and other information. The advantages of literature analysis are that the information comes from a wide range of sources, easy access and low cost, while the disadvantage is that the information may be incomplete, inaccurate, untimely and biased.

Interview survey method. Interview survey method refers to face-to-face or telephone interviews with relevant personnel of competitors or third parties to understand the internal situation of competitors, strategic intentions, behavior patterns, future plans and other information. The advantage of the interview survey method is that the source of information is direct, true and in-depth, but the disadvantage is that it is difficult, time-consuming, costly, and may be counsered or misled by competitors.

Observational research method. Observation and research method refers to the field observation, experience and comparison of competitors' products, services, channels, prices, promotions, customers, suppliers, etc., to understand competitors' market performance, customer satisfaction, supply chain efficiency, cost structure, quality level and other information. The advantage of the observational research method is that the source of information is intuitive, objective and real-time, but the disadvantage is that the scope of information is limited, superficial and difficult to penetrate.

Experimental research method. The experimental research method refers to the design and implementation of targeted experiments, such as simulated competition, test market, mysterious customers, phishing, etc., to understand the reaction ability, sensitivity, weaknesses, vulnerabilities and other information of competitors. The advantage of the experimental research method is that the source of information is effective, valuable and enlightening, while the disadvantage is that the acquisition of information is complex, risky and morally questionable.

Steps to 3. competitor research

The main steps of competitor research are as follows:

Determine the scope of competitors. The scope of competitors refers to the collection of competitors that enterprises need to pay attention to, which can be divided according to different criteria, such as industry classification, market share, product similarity, geographical coverage, strategic group, etc. The purpose of determining the scope of competitors is to narrow the object of competitor research and improve the efficiency and effectiveness of competitor research.

Collect competitor information. Competitor information refers to a variety of data, facts, opinions, evaluations, etc. related to competitors, which can be collected from different channels and methods, such as literature analysis, interview surveys, observational studies, experimental studies, etc. The purpose of collecting competitor information is to obtain raw materials for competitor research and to provide a basis for competitor analysis and evaluation.

Analyze competitor information. Competitor information analysis refers to the collation, induction, classification, comparison, interpretation and inference of the collected competitor information in order to extract the core information of the competitor, such as the basic situation of the competitor, strategic intention, advantages and disadvantages, behavior patterns and future development trends. The purpose of analyzing competitor information is to gain insight into the characteristics and patterns of competitors and to support competitor assessment and strategy development.

Evaluate competitor information. Competitor information assessment refers to the comprehensive evaluation and judgment of the analyzed competitor information to determine the strengths and weaknesses, threats and opportunities, strengths and weaknesses and crises of competitors, so as to provide a basis for competitor strategy formulation. The purpose of evaluating competitor information is to clarify the position and influence of competitors and to provide direction for competitors to respond.

Develop a competitor strategy. Competitor strategy refers to the development of specific action plans for competitors based on the analysis and evaluation of competitor information in order to achieve the strategic objectives of the enterprise. The purpose of developing a competitor strategy is to take advantage of the disadvantages and opportunities of competitors, avoid the advantages and threats of competitors, and enhance their competitiveness.

4. Competitor Research Cases

Shangpu Consulting is a professional strategic consulting company, providing strategic planning, market analysis, organizational change, innovation management and other consulting services to clients in various industries around the world. Champ Consulting's competitors are mainly in the following categories:

Internationally renowned strategic consulting companies, such as McKinsey, Boston Consulting, Bain Consulting, etc., have a wide range of customer bases, brand influence, industry experience and professional talents on a global scale, and are the strongest competitors of Shangpu Consulting.

Excellent local strategic consulting companies, such as Washington Consulting, New York Consulting, Portland Consulting, etc., have high visibility, credibility, customer loyalty and market share in the local market, and are the most direct competitors of Champ Consulting.

Other types of consulting firms, such as management consulting, financial consulting, technical consulting, etc., which have strong professional capabilities, technical advantages, solutions and partners in their respective fields, are the most potential competitors of Shangpu Consulting.

Through competitor research, Shangpu Consulting has found the core competitiveness of competitors and formulated corresponding competitive strategies. The following are some specific cases:

Aiming at internationally renowned strategic consulting companies, Shangpu Consulting found that their core competitiveness is global vision, strategic thinking, innovative methods and excellent talents. Therefore, Shangpu Consulting's competitive strategy is to focus on the needs of the local market., Characteristics and opportunities, to provide more suitable, flexible and practical consulting services, shangpu Consulting has also continuously improved its international level, strategic capabilities, innovation capabilities and talent training, with a view to forming strong competition and cooperation with internationally renowned strategic consulting companies.

Aiming at the local excellent strategic consulting companies, Shangpu Consulting found that their core competitiveness is localized cognition, trust, relationship and resources. Therefore, Shangpu Consulting's competitive strategy is to differentiate its own consulting services and highlight its own professional advantages, technical advantages, industry advantages and customer advantages. At the same time, Shangpu Consulting also continuously strengthens its own localization operation, brand construction, market expansion and customer maintenance, in order to form a healthy competition and cooperation with local excellent strategic consulting companies.

For other types of consulting companies, Shangpu Consulting found that their core competitiveness is specialized knowledge, technology, solutions and partners. Therefore, Shangpu Consulting's competitive strategy is to alliance its own consulting services, establish cooperative relations with other types of consulting companies, and provide more comprehensive, comprehensive and efficient consulting services, shangpu Consulting also continues to expand its professional fields, technical level, program library and cooperation network, in order to form complementary competition and cooperation with other types of consulting companies.

Conclusion

Competitor research is an important strategic analysis, which can help enterprises understand the market environment, find competitive advantages and formulate effective competitive strategies. This paper introduces the purpose, methods and steps of competitor research, and takes Shangpu Consulting as an example to show how to find the core competitiveness of competitors through competitor research, so as to enhance their competitiveness. I hope this article helps and inspires you.