Two companies in different industries may compete with each other because the products they produce are substitutes for each other. This competition from substitutes will affect the competitive strategies of existing companies in the industry in various forms. For example, some people joked that “takeout kills instant noodles” and “mobile payment kills thieves”, creating many stories of “I will destroy you but it has nothing to do with you”. Substitutes are also difficult to investigate, and some have even occurred but have not been noticed. But in market research, they should also be paid attention to.
In summary, when doing micro-market research, we should not be limited to peer competition investigations, but also focus on analyzing the situation of upstream suppliers. We should also pay attention to analyzing customer situations. Although the more hidden potential competitors and substitutes can be simplified in the early stage, we should also be cautious in operations.
Based on international market surveys, the company determined that Indonesia has the greatest potential for e-commerce development, consumers have mature online shopping habits, and there are many platform choices. Therefore, it finally chose Indonesia as the first stop for “going overseas”.