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This helps you identify alternative ways prospective customers can solve their problems.It is also a great way to evaluate other vendors' strategies so you can assess their strengths and weaknesses.When considering which template to use, it is important to think about the factors you want to analyze and how you will share your findings.
Understanding how your customers are dealing with their challenges today and what options they have helps you define your long-term product strategy.
The value of this research extends beyond just looking at competitors.
This gives you important insights into how other companies are trying to provide value to your target buyers.
Your competitive analysis should answer these core questions: Product and marketing teams use these findings to inform their strategic plans and determine what will make their product a success.
Of course, if you want to quickly capture competitive information, build product roadmaps, and define go-to-market strategies using a collaborative and web-based approach, you can try Aha! If you are not yet ready to do that, get started with the templates below.
A competitor analysis is a useful tool to understand the market landscape.
Considering all the options available to your prospective customers helps you differentiate your offering and establish a sustainable competitive advantage.
The free Excel and Power Point templates provided here make it easy to organize and communicate your competitive research. Choose from a wide range of examples and download them at no cost.
Evaluate your competitors by placing them in strategic groups according to how directly they compete for a share of the customer's dollar.
For each competitor or strategic group, list their product or service, its profitability, growth pattern, marketing objectives and assumptions, current and past strategies, organizational and cost structure, strengths and weaknesses, and size (in sales) of the competitor's business.