Understanding key concepts of competitive analysis for startups and SMEs and how to bring to life. Developing a competitive strategy.

1. Compe&&ve
Analysis
Didem
Michenet
didem@thestartupatelier.com

2. Content
• What,
why
• Key
Components
of
a
CA
• Resources
• Result
analysis

3. 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.

4. 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

5. 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.

6. 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

7. 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).

8. 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
• ….