Understand Buyer Alternatives

Our competitive analysis starts by identifying the most likely alternatives your potential customer will consider. This step is most enlightening because it identifies companies and products that compete directly with yours. In addition, it also identifies alternatives you might never consider, but your prospects will. We review the set of alternatives with you, and you select those you want us to evaluate more comprehensively.

Evaluate the Competition

We take a two-pronged approach to our competitive analysis. For each alternative selected we assess both their offering as well as their company (when appropriate). We take your potential customer’s point of view as we gather competitive intelligence – product capabilities, product pricing, product sales channels and other offering attributes. For each alternative’s company, we examine its strengths, weaknesses, opportunities, and threats (this is called a SWOT analysis) as they relate to your business.

Compare Competitive Features

To better understand how your product compares with the alternatives, we first develop a list of attributes that is likely to be on your potential customer’s check list. We use a wide variety of sources to evaluate the alternative offerings based on the identified attributes. We let you assess your own offering based on the identified attributes.

Win Against the Competition

Once all of the competitive intelligence including alternatives’ offerings and companies are assessed, we step back and take a look at how you can turn this competitive information to your advantage. We identify product opportunities where you can strengthen your offering’s competitive position. We recommend business strategies that can help you more effectively promote and sell your product.