What is the first step for an enterprise to analyze its competitors?

Reprint the following information for your reference.

Competitor analysis means that enterprises identify competitors through some analytical methods, and evaluate their goals, resources, market forces and current strategies.

Competitor analysis generally includes the following five contents and steps.

1. Identify the competitors of the enterprise. Identifying enterprise competitors must be analyzed from two aspects: market and industry.

2. Identify competitors' strategies.

3. Judge competitors' goals.

4. Evaluate the strengths and weaknesses of competitors.

5. Determine the competitor's strategy

6. Judge the reaction mode of competitors.

We can divide the types of competitors from different angles:

First, from the perspective of industry, the competitors of enterprises are

1. Existing manufacturers: refer to other existing manufacturers in the industry that produce the same products as the enterprise, and these manufacturers are the direct competitors of the enterprise.

2. Potential entrants: When the prospect of an industry is promising and profitable, it will attract new competitive enterprises, increase the new production capacity of the industry, and require re-division of market share and main resources. In addition, some large diversified enterprises often use their resource advantages to invade from one industry to another. The joining of new enterprises is likely to lead to the decline of product prices and profits.

3. Substitute manufacturer: Other products with the same function and different performance that can meet the same demand are substitutes. With the development of science and technology, there will be more and more substitutes, and all enterprises in a certain industry will face competition with enterprises producing substitutes in other industries.

Second, from the market point of view, the competitors of enterprises are

1. Brand competitors: Enterprises refer to other enterprises in the same industry that provide similar products or services to the same customers at similar prices with brand competitors. For example, the household air-conditioning market, Gree air-conditioning, Haier air-conditioning, Mitsubishi air-conditioning and other manufacturers.

The products between brand competitors are highly substitutable, so the competition is fierce. All enterprises regard cultivating customer brand loyalty as an important means to compete for customers.

2. Industry competitors: Enterprises that provide the same or similar products with different specifications, models and styles are called industry competitors. There is a competitive relationship between all enterprises in the same industry in order to compete for the market. For example, the relationship between the manufacturers of household air conditioners and central air conditioners, and the manufacturers of high-end cars and mid-range cars.

3. Demand competitors: Enterprises that provide different kinds of products but meet and realize the same needs of consumers are called demand competitors. For example, airlines, railway passenger transport companies and long-distance bus companies can meet the needs of consumers. When the train fare rises, the number of passengers by plane and bus may increase, competing with each other to meet the same needs of consumers.

4. Consumer competitors: Enterprises that provide different products to meet different wishes of consumers but have the same target consumers are called consumer competitors. For example, many consumers can spend their money on traveling, buying a car or buying real estate after their income level is improved. Therefore, there is a competitive relationship between these enterprises for the purchasing power of consumers, and the change of consumption expenditure structure has a great influence on the competition of enterprises.

Three, from the competitive position of enterprises, the types of competitors are

1. Market leader: refers to the enterprise that occupies the largest market share in the product market of a certain industry. For example, Kodak is the leader in the photography market, Procter & Gamble is the leader in the daily chemical products market, and Coca-Cola is the leader in the soft drink market. Market leaders are usually in a dominant position in product development, price changes, distribution channels and promotion power. The position of market leader is formed in the competition, but it is not fixed.

2. Market challenger: refers to an enterprise in a secondary position (second, third or even lower position) in the industry. For example, Fuji is a challenger in the photography market, Colgate is a challenger in the commodity market, and Pepsi is a challenger in the soft drink market. Market challengers often try to expand market share and improve market position through active competition.

3. Market follower: refers to an enterprise that occupies a secondary position in the industry and is satisfied with the secondary position and strategically follows the market leader. There are a large number of followers in the real market. The main feature of market followers is following. In terms of technology, it is not the pioneer and the first user of new technology, but the learner and the improver. In marketing, don't be the pioneer of market cultivation, but hitchhike to reduce risks and costs. Market followers constantly improve their skills and grow by observing, learning, learning from and imitating the behavior of market leaders.

4.nichers: Most of them are small and medium-sized enterprises in the industry. They focus on a small number of markets that are ignored by large enterprises. In these small markets, they can get the maximum benefit through specialized management and seek survival and development in the cracks of large enterprises. By producing and providing some special products and services, market substitutes can gain development space and even become "giants in small markets".

To sum up, enterprises should identify their competitors from different angles and pay attention to the changes in the competitive situation in order to better adapt to and win the competition.