A competitive landscape refers to the array of options available to customers other than a company's product, including competitors' products and other types of customer solutions. Understanding the competitive landscape is essential for avoiding costly mistakes, discovering new ideas, and identifying new markets, industries, and user personas.
To create a comprehensive analysis, follow these steps:
Crafting a unique competitive edge involves understanding the market, competitors, and alternative solutions. To develop a strong competitive edge, consider factors such as:
When conducting a competitive analysis, it's important to focus on key metrics that provide valuable insights into your competitors' performance and strategies. Some of these metrics include:
To effectively use competitive insights in strategy, consider the following:
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