Components needed for “Competitive Analysis.”

Competitive Analysis

What does competitive analysis include?

  • Product offering & key features: What types of product does the competitor have and what are the key features that make this product attractive to the customers and stand out.
  • Differentiators: What makes competitor different from other’s that are in the space?
  • Target customers: Identifying who competitors are targeting, who is that product intended for?
  • Distribution Channel: How does a product get to the customer?
  • Price Point: How exactly does the product price and how is it compare to our pricing strategy?

How do you build a competitive analysis?

  • Google: The first place I usually start is at Google to get a better understanding of just what product exists and out there.
  • Review the website and marketing materials: When I spend some time searching, I review website and marketing contents to get the better sense if the product is a competitor or not.
  • Use the product: If it’s a competitor, I generally want to use the product to understand what it is and how it works.
  • Read reviews: Afterwards, I read reviews to find out how well it’s doing by reading reviews.
  • Check out social media presence (Twitter, Reddit, etc.): This is eye-opening to check out there social media presence.

Types of Competitors:

Types of Competitors

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Data Product Manager. Building products that are capable of solving the customer’s problem. Customer obsession & ownership are the two principles that I believe

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Shruti Dwivedi

Shruti Dwivedi

Data Product Manager. Building products that are capable of solving the customer’s problem. Customer obsession & ownership are the two principles that I believe

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