Analysis of competition

According to the actual situation of customers, the company will conduct competitive analysis from three aspects: determining competitors, competitor strategies and competitive advantages

(1)Identify the main competitors: Understand the main competitors in the industry, including their size, market share, strengths and weaknesses. Industry research:Understand the situation of the entire industry, including the number of competitors, market share, product type, etc. Competitor Analysis: Conduct anin-depth analysis of competitors, including their background, history, size, financial,product features, market positioning, and more. Competitive Situation Assessment: Evaluate the competitive situation among competitors, including the intensity of competition, market share trends, etc. Main competitor screening:According to the above analysis results, screen out competitors who are equal to or exceed their own enterprises in terms of market share and brand awareness.

(2)Analyzing competitors' strategies: This involves studying their pricing strategies, the differentiation among products , and marketing approaches. Target market: Gaining insight in to the target market of competitors, which encompasses consumer segments and industry sectors. By examining competitors' advertisements, promotional campaigns, and product features, one can infer the characteristics and size of their target market. Product positioning: This entails examining how competitors position their products, specifically their products' placement and image within their target market. By analyzing the features,   performance,appearance, and pricing of competitors' products, evaluate their competitiveness and differentiation in the market. Value Proposition:Understand the competitors' value proposition, which is the unique value and advantage their product or service offers. This can be done by examining how competitors perform in areas such as product quality, service levels, and after-sales support, to comprehend their differentiation strategies in the market. Marketing Strategy: Analyze the competitors' marketing strategies,including their pricing strategies, promotional methods, and distribution channels. By studying competitors' marketing campaigns, gain insights into how they attract and retain customers, and build brand recognition in the market.Organizational structure: Understand the structure of competitors, including their corporate governance, human resource allocation, and R&D capabilities.Analyzing their organizational structure reveals how they allocate resources and make decisions, and how they maintain a competitive edge in the market.

(3)The Analysis of Competitive Advantage : Identify your company's strengths and weaknesses compared to your competitors. This may include aspects such as brand recognition, customer loyalty, product innovation, cost control, etc. Identify your own strengths: Understand your company's strengths, including the uniqueness of your products or services, brand recognition, customer loyalty, and research and development capabilities. Identify competitors' weaknesses:Analyze the weaknesses of your competitors, such as flaws in their products orservices, issues with brand reputation, ineffective marketing strategies, etc. Assess competitive advantage: Compare your company's strengths with your competitors' weaknesses to evaluate your competitive advantage in the market.At the same time, it is essential to consider a company's own weaknesses and the strengths of its competitors to formulate a more comprehensive competitive strategy. Formulating competitive strategies: Based on the results of the competitive advantage analysis,competitive strategies should be developed. If a company has advantages in certain areas,it can adopt strategies to expand these advantages, such as enhancing brand promotion, launching new products or services, and so on.