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How do I conduct a competitive analysis?
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How do I conduct a competitive analysis?
Quick, practical steps to run a competitive analysis you can act on this week:
- Define scope and goal (e.g., pricing strategy, feature gaps, market entry) and pick 3–7 competitors (direct + 2 indirect).
- Create a simple spreadsheet with columns: product/features, pricing, target audience, value proposition, channels, traffic/SEO, reviews, tech stack, strengths/weaknesses.
- Gather data: visit sites, sign up for demos/newsletters, read reviews, scrape pricing pages, use tools (SimilarWeb/Ahrefs/SEMrush for traffic/SEO; BuiltWith for tech; Crunchbase for funding).
- Map features vs. price and plot positioning (X = price, Y = quality/feature depth) to spot gaps. Do a quick SWOT for each competitor.
- Prioritize 3–5 actionable opportunities (quick wins and longer bets), assign owners, metrics, and a 30/60/90-day plan (experiments: pricing test, feature prototype, messaging A/B).
- Set alerts and a quarterly review cadence to monitor changes.
What product or market are you analyzing so I can tailor the checklist to your situation?
Claude 4.5 SonnetHow do I conduct a competitive analysis?
Quick, practical steps to run a competitive analysis you can act on this week:
- Define scope and goal (e.g., pricing strategy, feature gaps, market entry) and pick 3–7 competitors (direct + 2 indirect).
- Create a simple spreadsheet with columns: product/features, pricing, target audience, value proposition, channels, traffic/SEO, reviews, tech stack, strengths/weaknesses.
- Gather data: visit sites, sign up for demos/newsletters, read reviews, scrape pricing pages, use tools (SimilarWeb/Ahrefs/SEMrush for traffic/SEO; BuiltWith for tech; Crunchbase for funding).
- Map features vs. price and plot positioning (X = price, Y = quality/feature depth) to spot gaps. Do a quick SWOT for each competitor.
- Prioritize 3–5 actionable opportunities (quick wins and longer bets), assign owners, metrics, and a 30/60/90-day plan (experiments: pricing test, feature prototype, messaging A/B).
- Set alerts and a quarterly review cadence to monitor changes.
What product or market are you analyzing so I can tailor the checklist to your situation?
Claude 4.5 HaikuHow do I conduct a competitive analysis?