Competitive Analysis & Intelligence
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Transcript of Competitive Analysis & Intelligence
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Content
• What, why • Key Components of a CA
• Resources • Result analysis
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Compe&&on
Always watch an eye on rival products / services!
True for all companies but even more for start-‐ups in all the below cases, trying to enter to :
• An exis&ng market (exis&ng players) • A niche market (exis&ng players) • A new market (poten&al players)
WHY :
To understand the full compe&&ve landscape. To develop a strategy for compe&&ve advantage.
To an&cipate compe&tor behavior pre / post launch.
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CA Components Comparison Categories
Product / Service Range
Product / Service Quality
Unique Selling
Proposi&on
Target Customers
Key Channels
Pricing
Customer Service
Branding Market Share Financial Health
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CA Methodology
Collect data for each category
Rate each category and compe&tor
Complete with qualita&ve
data
Produce final comparison
charts
Define top compe&tors
Create your SWOT
Collect as much data as possible for key categories. Define which ones to rate, not all can be rated, some are for qualita&ve data. Add other categories if needed. Defiine how many compe&tors you are looking into (max 5-‐6).
Rate each category (e.g. 1-‐5). Usually weights are also used for a total score comparison.
Do not s&ck only to scores. Iden&fy quali<ta<ve elements. Adjust final compe&tor assessment.
Have comparison charts by category and a final one for all compe<tors.
Select top 3 compe&tors to monitor and adjust your compe<<ve advantage strategy.
Create your Strengths – Weaknesses – Opportuni<es – Threats quadrant. Integrate this to your overall business strategy.
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Resources Where to find Compe&&ve Intelligence data?
Internet is a great resource !
Company web sites Product descrip&ons and offerings
Customers Annual reports Press coverage Whitepapers
Paid services (Gartner, Forrester, etc).
Others !
Events Conferences
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Digital Space What to obtain in digital marke&ng world?
• For products that have high u&liza&on of digital channels, you can add the following to your reports : – Paid display adver&sing (look of ads, prices they offer, look of their landing pages)
– SEO (keywords, etc.) – Twi_er (Followers, tweets, retweets, favorites, etc.)
– Blog (Blog contents, update frequency, etc).
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Compe&&ve Analysis Results Summary
Top 3 compe&tors
• Quality • Price • Customer base • Unique Selling proposi&on
• Total score
Your Compe&&ve Advantage
• Quality • Price • Customer base • Unique selling proposi&on
• Total score
Your SWOT Analysis
• Strengths • Weaknesses • Opportuni&es • Threats
Digital Presence
• Paid Ads • SEO • Social Media • Blog • ….