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Competitor investigation
Time of publication：2021-07-22
1. Competitor investigation framework:
Competitor analysis is a tool for systematic thinking and analysis of competitors. The main purpose of this analysis is to estimate the strategies and responses that competitors may take to the company’s competitive actions, so as to effectively formulate the customer’s own strategic direction. And strategic measures.
When conducting a competitor analysis, it is necessary to conduct a careful analysis of those major competitors that may have a significant impact on the customer's strategy now or in the future. Competitor here usually means a broader group of organizations than existing direct competitors. In many cases, it is because the customer fails to correctly identify the competitors that may appear in the future, which leads to the blind spots. Competitors that need to be evaluated include the following:
2. The main content of the competitor investigation:
3. Sources of competitor intelligence:
Routine, meticulous, and open collection of competitor information is a very important basic work. The main sources of competition information include the following parts:
Annual reports, documentation of competitive products.Internal newspapers and magazines. These are usually very useful because they record a lot of detailed information, such as: major appointments, employee background, business unit description, statement of philosophy and purpose, new products and services, and major strategic actions.
The history of competitors. This is useful for understanding the competitor’s culture, the basic principles of existing strategic positions, and detailed information on internal systems and policies.
advertising. From this, you can learn about topics, media choices, spending levels, and the timing of specific strategies.
Industry publications. This is useful for understanding financial and strategic announcements, product data, and the like.
Papers and speeches by company officials. This is useful for obtaining the details of internal procedures, the organization's senior management philosophy and strategic intent.
Salesperson’s report. Although these are often biased, the regional manager’s information report provides first-hand information about competitors, consumers, prices, products, services, quality, and distribution.
customer. Reports from customers can be actively requested internally or obtained from external market research experts.
supplier. The report from the supplier is very useful for evaluating the investment plan, action level and efficiency of competitors.
Expert advice. Many companies use external consulting to evaluate and change their strategies. The knowledge of these external experts is useful because they usually adopt a specific model when solving problems.
Securities broker report. These can usually get useful operational details from competitor briefings. Similarly, industry research may also provide useful information about a competitor in a particular country or region.
Senior consultant hired. It is possible to hire managers who have retired from competitors as their own consultants, and information about their previous employers can play an effective decisive role when asking them to provide assistance in a particular work area.
4. Competitor analysis database:
the name of the competitor or potential competitor;
the number and location of the workplace;
the number and characteristics of each unit;
the details of the competitor’s organization and business unit structure; the
scope of products and services, Including relative quality and price;
market details segmented by customers and regions; details of
communication strategies, expenditure levels, timing, media selection, promotional activities, and advertising support. Details of
sales and service organizations, including quantity, organization, responsibility, and importance Special procedures for customer needs, group sales capabilities, and sales force division methods
. Details of the market (including the confirmation and service of important customer needs), customer loyalty estimation and market image;
customer loyalty estimation and relative market image
related R&D expenses, equipment , Development themes, details of special skills and characteristics, and details of
related operations and system equipment in the geographical coverage area , including capabilities, scale, scope, newness and oldness, utilization, output efficiency evaluation, capital intensity, and replacement policies;
important customers And supplier details;
number of employees, productivity, salary level, reward and punishment policy;
details of key personnel within the competitor’s organization;
Details of control, information and planning systems.
5. Investigation method and process:
Investigation method: With a complete information collection system (media, customs, statistical agencies, business systems, own databases), diversified access methods, and a rigorous data integration system, measurement point consulting can provide customers with high-quality competitor investigations report.
Investigation value: Competitor research is an investigation and research on the competitive environment, competitors’ operations and strategies, which aims to help companies identify the current competitive environment, gain in-depth understanding of competitors, plan market development strategies, formulate business portfolios, and marketing system strategies. Improve the level of competition among enterprises. Competitor investigation is the collection of information for a specific company, in-depth understanding and analysis of opponents, we have powerful research technology and extensive investigation resources, can help customers obtain the information they need.
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