Hey, newbies in foreign trade! Competitor analysis is crucial for you. In fact, 70% of successful orders come from accurate competitor analysis. But many newbies make a common mistake: they only focus on price competition and ignore the overall analysis.
Collect basic information about competitors
There are many ways to gather basic information. On B2B platforms like Alibaba and Global Sources, you can analyze product pages. Check out the company’s official website, especially the “About Us” section and news feed. Also, follow their social media accounts on LinkedIn and Instagram. Here are some useful free tools:
Here’s a practical step: Create a competitor profile template that includes company name, founding years, product lines, etc.
| Analyze Project |
Specific content |
| Company basic information |
Company name, establishment date, headquarters location, business scope, market distribution, employee size, etc. |
| Product Analysis |
Product categories, product line width and depth, product features and advantages, product quality and performance, product price range, product update frequency, etc. |
| Marketing Strategy |
Target market positioning, market share, marketing channels and methods, advertising strategies, exhibitions and activities participated in, etc. |
| Customer Group |
Main customer types, customer geographical distribution, customer loyalty, customer acquisition and maintenance strategies, etc. |
| supply chain management |
Raw material procurement channels and costs, production capacity and efficiency, inventory management model, logistics distribution methods and efficiency, etc. |
| Brand Building |
Brand awareness and reputation, brand image positioning, brand communication strategy, brand influence in different markets, etc. |
| Technology R&D |
R&D investment scale, R&D team strength, technological innovation capabilities, patents and intellectual property rights, etc. |
| Pricing strategy |
Pricing methods, price adjustment mechanisms, price competitiveness, price comparison with competitors, etc. |
| Service Level |
Pre-sales service (consultation, sample provision, etc.), in-sales service (order processing, communication and coordination, etc.), after-sales service (repair, return and exchange, etc.) |
| Competitive advantages and disadvantages |
Summarize the core competitive advantages of competitors, such as technological leadership, cost advantages, brand influence, etc.; at the same time, analyze their existing disadvantages, such as single product line, insufficient market expansion capabilities, etc. |
| Potential threats and opportunities |
Analyze the potential threats that competitors may pose to the company, such as competition for market share, new product launches, etc.; as well as the opportunities that the company can discover from competitors, such as gaps in the other party's market, weak links in services, etc. |
In-depth analysis of core dimensions
In order to analyze product competitiveness, you can create a functional comparison table. You can search for patent technologies on the official website of the State Intellectual Property Office. In terms of pricing system, you should learn to identify tiered pricing strategies and analyze hidden costs such as installation fees and taxes. In terms of channel layout research, you should count the proportion of online and offline channels and track their participation in key exhibitions. Establish customer profiles, use AB customer data to infer buyer types, and analyze social media fan characteristics.
The following is a table about product competitiveness analysis:
| Analysis Dimensions |
Specific content |
| Product Features |
- Product features: Compared with your company's products, what are the unique features of your competitors' products? Can they meet specific market needs or solve specific problems?
- Product quality: including the product's durability, reliability, stability and other aspects, and whether it has relevant quality certifications or industry reputation.
- Product design: covers appearance design, packaging design, etc., whether it conforms to the aesthetic and cultural preferences of the target market, and whether the packaging is protective and attractive.
- Product specifications: Analyze the product's size, weight, material and other specifications to see if they can meet the customized needs of different customers. |
| Product Innovation |
- R&D investment: Understand competitors’ investment in product R&D and the proportion of investment to their operating income, which reflects the importance they place on product innovation.
- Innovation capability: Observe whether competitors frequently launch new products or upgrade and improve existing products, how their innovative achievements are received in the market, and whether they have core technologies or patents.
- Technical cooperation: whether to carry out technical cooperation with universities, research institutions or other enterprises to enhance the technical content and innovation ability of products. |
| Product Price |
- Price level: Compare the prices of competitors' products in different markets and sales channels, analyze whether their price positioning is high-end, mid-end or low-end, and the differences and reasons with the company's product prices.
- Pricing strategy: Study competitors’ pricing methods, such as cost-plus pricing, market-oriented pricing, competition-oriented pricing, etc., as well as the frequency and magnitude of their price adjustments, to determine the flexibility and competitiveness of their pricing strategies.
- Cost-effectiveness: Taking into account the performance, quality and price of the product, evaluate the cost-effectiveness of competitors' products and analyze their cost-effectiveness advantages and disadvantages in different market segments. |
| Products and Services |
- Pre-sales service: including the quality and efficiency of services in terms of product consultation, sample provision, technical support, etc., whether customers' questions can be answered in a timely and professional manner, and accurate product information can be provided.
- After-sales service: Pay attention to the service level of order processing, delivery time, logistics and distribution, whether the products can be delivered on time, according to quality and quantity, and whether the logistics and distribution are fast and reliable.
- After-sales service: Inspect competitors’ policies and implementation of after-sales services such as product installation and commissioning, training, repair and maintenance, returns and exchanges, and whether they can respond to customers’ after-sales needs in a timely manner, solve customer problems, and improve customer satisfaction and loyalty. |
| Market Feedback |
- Customer satisfaction: Through market research, customer reviews, industry reports and other channels, understand customer satisfaction with competitors' products, including evaluations and opinions on product performance, quality, service, etc.
- Market share: Analyze the changes in market share of competitors' products in different target markets, as well as the reasons for their increase or decrease in market share, and evaluate their competitiveness and development trends in the market.
- Industry reputation: Understand the industry's evaluation and opinions on competitors' products, including their reputation in terms of product quality, technological innovation, service level, etc., and whether there is any negative news or events that affect their product image. |
Dynamic competitive intelligence monitoring
Establish a daily monitoring mechanism. Use Google Alerts and regularly browse industry forums such as Foreign Trade Circle. During major promotional events such as Black Friday and Christmas, compare their promotional strategies and use templates to record them. In addition, track their technology iterations by counting the frequency of new product releases and summarizing the rules of product line upgrades.
Develop differentiated competitive strategies
Use a SWOT analysis model. Identify your strengths (e.g., cost control), weaknesses (e.g., brand awareness), opportunities (e.g., emerging markets), and threats (e.g., policy changes). Use Google Trends to find niche markets. For example, a newcomer made a breakthrough in the pet smart product niche.
The following is a table about differentiated competitive strategy analysis:
| Analysis Dimensions |
Specific content |
| Product differentiation |
- Feature differences : Analyze the differences between competitor products and other peer products in terms of function, quality, design, material, etc. For example, a competitor's electronic products have a lighter and thinner appearance design, or its clothing products use special environmentally friendly fabrics.
- Category differentiation : Check whether competitors have launched unique product categories or product segments. For example, in the furniture industry, some companies focus on retro-style furniture categories to differentiate themselves from other modern-style furniture companies.
-Customized services : Understand whether competitors provide product customization services, as well as the degree and scope of customization. For example, some jewelry companies can provide customers with personalized design customization services to meet their unique needs. |
| Price differentiation |
- High-end pricing : Analyze whether competitors position their products in the high-end market, use high quality and high added value as selling points, and set higher prices. For example, some luxury brand clothing establishes a high-end image through exquisite craftsmanship and unique design, and implements a high pricing strategy.
- Low-end pricing : Check whether there are competitors entering the market with a low-price strategy, providing relatively low-priced products through cost control and large-scale production to attract price-sensitive customers. For example, some manufacturing companies in developing countries use local low-cost labor and resources to produce low-priced daily necessities for export.
-Price flexibility : Study the flexibility of competitors in price adjustment and whether they will make flexible price changes according to market demand, seasonal changes, promotional activities, etc. For example, some e-commerce companies will launch large price discounts during holidays to attract more consumers. |
| Channel differentiation |
-Sales channel selection : Analyze the sales channels mainly used by competitors, such as online platforms, offline physical stores, wholesalers, retailers, etc., as well as their layout and advantages in different channels. For example, some companies mainly sell through large international e-commerce platforms, while others focus on establishing long-term cooperative relationships with local retailers and selling products through physical stores.
-Channel innovation : Check whether competitors have adopted innovative sales channels or channel models. For example, some companies use social media platforms to promote and sell products, and bring products to market through new channels such as influencers and live broadcasts.
- Channel cooperation and integration : Understand the cooperation model and closeness between competitors and channel partners, and whether to improve channel efficiency and competitiveness by integrating upstream and downstream channel resources. For example, some large enterprises establish strategic partnerships with suppliers to achieve stable supply and cost control of raw materials, and cooperate with logistics companies to optimize logistics and distribution links, and improve product delivery speed and service quality. |
| Promotion differentiation |
-Advertising : Analyze competitors’ advertising strategies, including advertising channels, advertising content and format, and target audiences. For example, a cosmetics company places a large number of advertisements in internationally renowned fashion magazines, targeting female consumers who pursue fashion and high-quality cosmetics, and promoting the unique formula and high-end brand image of its products.
- Public relations activities : Check the public relations activities held or participated by competitors, such as new product launches, industry seminars, charity events, etc., and the role these activities play in brand image and product promotion. For example, a technology company holds an annual new product launch, invites global media and industry experts to participate, showcases its latest technological achievements and products, and enhances brand awareness and industry influence.
- Promotional activities : Study the forms of promotional activities carried out by competitors, such as discounts, full-reduction activities, gifts, lucky draws, etc., as well as the frequency and intensity of promotional activities. For example, some clothing companies will launch large discount promotions when changing seasons to attract consumers to buy.
-Customer relationship management : Understand competitors' customer relationship management measures, such as membership system, customer service hotline, after-sales service guarantee, etc., and how to improve customer loyalty and reputation through good customer relationship management. For example, an automobile company provides its members with exclusive maintenance discounts, roadside assistance services, etc., to enhance customers' recognition and loyalty to the brand. |
| Brand differentiation |
-Brand positioning : Analyze the positioning of competitor brands in the target market, whether it emphasizes high-end quality, fashion trends, cost-effectiveness or other unique brand images. For example, Apple positions its brand as a high-end, innovative and fashionable technology brand, attracting consumers with simple and easy-to-use product design and a powerful ecosystem.
-Brand culture and values : Study the culture and values conveyed by competitor brands, and how to convey these cultures and values to consumers through brand stories, advertising, etc. For example, Coca-Cola Company conveys the brand culture and values of happiness, vitality, and sharing through advertising and brand activities, and establishes emotional resonance with consumers.
-Brand image and communication : Check the brand image design of competitors, including the characteristics of brand logo, packaging, advertising style, etc., as well as the channels and effects of brand communication. For example, Starbucks has established a warm and fashionable brand image through its unique green logo, comfortable store decoration and high-quality coffee products, and has carried out brand communication through various channels such as social media and offline activities, attracting a large number of consumers. |
Analysis report output template
The analysis report should include a basic information table, a product comparison table, and a list of competitive strategy recommendations. Risk Warning: When collecting data, especially customs data, please be sure to comply with relevant regulations. Misuse of customs data may lead to legal problems. Now that you have learned about these competitor analysis methods, are you ready to take your foreign trade business to the next level? Click the link below to start your journey and gain a competitive advantage in the B2B market!
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400-076-6558智领未来，外贸超级营销员
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