1. Including the following steps:
Competitor analysis generally includes the following six items and steps.
1. Identify the company’s competitors. Identifying corporate competitors must be analyzed from two aspects: market and industry.
2. Identify competitors’ strategies.
3. Determine competitors’ goals.
4. Evaluate competitors’ strengths and weaknesses.
5. Determine competitors’ strategies
6. Determine competitors’ reaction patterns.
2. Competitor analysis:
Competitor analysis is one of the strategic analysis methods. Analyze the current situation and future trends of competitors. The contents include: (1) Identify existing direct competitors and potential competitors; (2) Collect intelligence related to competitors and establish a database; (3) Analyze competitors’ strategic intentions and strategies at all levels; ( 4) Identify the strengths and weaknesses of competitors; (5) Gain insight into the strategies competitors may adopt and possible competitive responses in the future.
The specific content of competitor advantage and disadvantage analysis:
(1) Product. The position of competing companies' products in the market; the marketability of their products; and the breadth and depth of their product lines.
(2) Sales channels. The breadth and depth of the sales channels of competing companies; the efficiency and strength of the sales channels; and the service capabilities of the sales channels.
(3) Marketing. The level of marketing mix of competing companies; the ability of market research and new product development; the training and skills of the sales team.
(4) Production and operation. The production scale and production cost level of competing enterprises; the technological advancement and flexibility of facilities and equipment; patents and proprietary technologies; expansion of production capacity; quality control and cost control; location advantages; employee status; sources and costs of raw materials; Degree of vertical integration.
(5) Research and development capabilities. The research and development capabilities of competitive enterprises in terms of products, processes, basic research, imitation, etc.; the qualities and skills of research and development personnel in terms of creativity, reliability, simplification capabilities, etc.
(6) Financial strength. The capital structure of competitive enterprises; financing capabilities; cash flow; creditworthiness; financial ratios; and financial management capabilities.
(7) Organization. The consistency of values ??and clarity of goals of organizational members of competitive enterprises; the consistency of organizational structure and corporate strategy; the effectiveness of organizational structure and information transmission; the adaptability and response of the organization to changes in environmental factors; and the quality of organizational members.
(8) Management ability. Competitive enterprise managers’ leadership qualities and motivational abilities; coordination abilities; managers’ professional knowledge; flexibility, adaptability, and foresight in management decision-making.