Beat the Competition, Part 2: Driving a Product Strategy that Wins
In this second part of a two-part series, we’re going to continue covering one of the areas of Product Management that PMs find challenging – how to understand and beat the competition. Our Product Management Skills – Benchmark Report from 2019 identified Competitive Analysis as one of the three areas that Product Managers find most challenging. Problem is, effective Competitive Analysis can make the difference between a product that just does its job well, and a product that dominates the market. It’s a skill every Product Manager should perform with ease, so that they can both build the best products possible and promote them effectively to satisfy their customers before their competitors do. Whether you’re a Digital Product Manager whose customers expect competitive gaps to be closed quickly, or you have a physical product with more traditional concerns, we’ll help you develop a plan to slay your competitors! In Part 1 of this series, we presented the big picture of Competitive Analysis, and identified the nine different dimensions of research and analysis needed to get a thorough understanding of the competitive landscape. In Part 2, we’ll review the final five dimensions of analysis in more depth, and complete the survey of critical tools and frameworks to use. We’ll discuss how to make Competitive Analysis a regular part of your work without breaking a sweat, and how to turn analysis into actionable insights to both build products that matter, and market them most effectively. What You Will Learn: Specific tools and techniques for the last five dimensions of Competitive Analysis so that you can put them to work right away Answer the critical question of Product Management: So What? Now that you understand the competitive landscape, you’ll learn how to apply Competitive Insights that drive product and marketing strategy Learn best practices and processes to make Competitive Analysis a regular part of your Product Management work week, so that you’re always on top, building products that matter
