- Before you start listing competitors, you need to know the reason you are analyzing them.
- Narrow down what you want to be comparing.
- Search competitors from:
a. Google, Reddit, Quora, Youtube
b. Ask the users during testing or interviews
c. Ask the stakeholders or product owner
- List of 5 – 10 competitors.
Direct Competitors: 1) targeting your same target audience/customers and 2) offering a similar value proposition as you (in the form of a product or service).
Indirect Competitors: 1) might be targeting your target audience/customers but doesn’t offer the same value proposition as you 2) might be targeting a different audience/customer base but have the same value proposition as you.
- List the comparisons. Some examples are:
a. Vision Statement
b. Features
c. Goals
d. Strengths
e. Direct or Indirect Competition
f. Weaknesses
g. Products offered
h. Social Media Channels
i. User Feedback
j. Number of online searches per month
- Hyperlink the website and add some visuals on your table
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