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Key Competitors Research
Ò»¡¢Definition
Generally speaking, companies and their opponents will focus on the same customer group. Customer requirement for a certain product or service form the market, as well as form the industry made up of many competitors. Companies need to have a deep analysis on the industry when deciding the business, as the saying goes ¡°Know yourself as well as the enemy to win¡±.
2. Analysis in detail: Companies need to analyses the opponents who have a great effect on their customer strategies. The meaning of opponents hereby refers to a group far beyond the direct opponents. Under many circumstances, failing to recognize the potential opponent will lead to the wrong strategies. The opponents need to be assessed include the direct opponents and the potential opponents.
The direct opponents: Companies should focus on those direct opponents growing at the same speed or even faster and pay attention to find the source of their advantages.
Some opponents will appear on the certain market, not every divided market. So companies should have analysis on different level, especially on those who greatly affect the core business of yours.
The potential opponents: Direct opponents may be badly damaged by breaking the current market structure. So the threats may come from the potential opponents as follows,
.Companies with low entering barrier
.Companies with experience effect or synergistic revenue
.Companies with forward or backward integration
.Buyers for non-related products to get synergistic effect financially
.Companies with potential technology advantage
Competitor intelligence sources
It¡¯s a very important foundation work to conduct routine, careful, public collection on competitor information. The main source of competitive information includes the following several parts:
Annual report
Literature of competing products
In-house newspaper and magazine (literature). These are usually very useful, because they recorded a lot of detailed information, such as: important appointment, employee background, business unit description, philosophy and purpose statement, new products and services as well as the significant strategic action, etc.
* The history of the competition. It¡¯s useful to understand the culture of competition, the strategic position of the basic principle and internal system and policy detailed information.
* Advertising. We can learn the subject, media selection, cost level and specific strategy time schedule from it.
* Trade publications. It¡¯s useful to understand the financial and strategic announcement, product data, and other such information.
Company executive papers and speech. To get the internal program details, the senior management concept and strategic intent of the organization is useful.
Market and sealer report.
Customer: report can be from internal; can also be obtained from the external market research experts.
Supplier: supplier's report is very useful for the evaluation of competitor¡¯s investment plan, action and efficiency.
For large collect competitor material shall establish perfect competitor analysis database, in order to
fully and timely use. Shall collect data include the following contents:
Competitors or potential competitors name
The number of workplaces and position
Each unit personnel quantity and features
Competitor organizations and business unit structure of the details
Range of products and services, including relative quality and price
According to the customer and region segmentation market details
Communication strategy, spending level, time arrangement, media selection, promotion and
advertising support details
Sales and service organization details, including quantity, organization, responsibility, the important
customer demand special program, group sales ability and sales personnel division method
Market (including the important customer demand confirmation and service) details, customer loyalty evaluation and market image
Consumer loyalty and market image
Research and development, equipment cost detail, and geographic coverage
Details of the operation and system equipment, including capacity, scale, scope, new and old, utilization, and output efficiency evaluation, capital intensity and replacement policy;
Major customers and suppliers details
The number of employees, productivity, wages, incentive policy;
Key personnel in the internal competition organization Details
Control, information and planning system details
We can analysis and evaluate competitors, with database, and put forward the guiding customers to obtain and maintain competitive advantage advice. |
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