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COMPETITIVE ANALYSIS
EVERYONE – This is a critical step in understanding the current competitive landscape, as well as ensuring you have a competitive advantage in the market.
Who needs this?
Why is it important?
In a competitive and ever-changing market, business owners must understand what competitors are doing, and how their product or service fits into the ecosystem. This enables a business to:
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Stay informed about changes in the market
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Ensure their product/service is differentiated
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Take advantage of new opportunities
Identify product strengths, weaknesses, and opportunities based on analysis and key insights which can include:
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How does your company/product/service stack up against key competitors in your industry?
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What is the go-to-market strategy?
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How does your customer experience compare to your competition?
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Are you competitive from a pricing perspective?
What is typically included in the project?
What are the deliverables?
Deliverables can include:
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Competitor Benchmark Matrix
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SWOT Analysis
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Quick wins
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Longer term opportunities
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