Nowadays, market analysis is a must for e-commerce companies. As the saying goes, “Know yourself and know your enemy, and you will never be defeated in a hundred battles.” In addition to knowing yourself well, e-commerce companies must also know their competitors well when conducting market analysis to see if there is any homogeneity between themselves and their competitors. The focus of this work is on the following 7 questions.
(1) What details of competitors are worth paying attention to?
(2) What problems can competitors’ products solve and why can they solve these problems?
(3) What are the significant features and advantages of competitors?
(4) What weaknesses of other similar products do competitors’ products make up for?
(5) In which design and production details does the competitor’s advantage manifest itself?
(6) In which actual results or buyer behaviors does the competitor’s advantage manifest itself?
(7) What trust endorsements have competitors obtained so far?
After carefully answering the above 7 questions, e-commerce companies can have a deep understanding of their competitors and make market analysis more scientific, reasonable and unique. In addition, after analyzing competitors, e-commerce companies can also see their own strengths and weaknesses, and on this basis, continue to magnify their advantages, and finally achieve a state of having what others do not have and being better than others.
When promoting a facial tissue, the well-known e-commerce company NetEase Yanxuan seized the advantage of “one paper with three layers”, widened the gap between itself and its competitors, and quickly attracted the attention of buyers. In addition, NetEase Yanxuan also demonstrated the advantages of good water absorption and economical use of facial tissues by “5 sheets of paper can absorb half a medium cup (100ml) of clean water”, as shown in Figure 2-5.
Of course, there are many cases like the above. Their commonality is to magnify their own advantages based on the analysis of competitors, take strong competitiveness as the orientation, and implement completely different strategies from competitors.
Tips
The essence of modern corporate competition is to find a kind of opposition and unity in a saturated market and achieve cooperation with competitors. If e-commerce companies still turn a blind eye to the cruelty of competition or react slowly as before, it will be difficult to get good results and attract the attention and support of buyers.