Competitive Analysis
An analysis done to understand how competitors of a product or service offer comparable experiences, and how those might inform best practices.
- Related Capabilities
Competitive user research focuses on how people use and perceive a product or service. Unlike traditional marketing competitive analysis, it does not address popularity, business model or revenue stream. Competitive research can be done at any point in the product development cycle. For maximum benefit, you should complete a competitive analysis regularly throughout the product lifecycle.
Process
1. Identify and profile the competition
Identify
- Tier 1: Direct competitors
- Tier 2: Products from the same category as Tier 1 competitors
- Niche competitors: Compete with a portion of your product but the the whole thing
Profile
- Product description
- Audience profile
2. Define a set of key dimensions for comparison
3. Compare competitors to each other (and your product)
4. Use the comparisons to create recommendations for action
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