Competitive Market Analysis Template

Companies don't run in a vacuum. Comprehending the competitive environment is an essential aspect of any product management or business strategy position. It's simpler than ever to perform competitive research and obtain insightful information about your rivals in today's digital world. Nonetheless, it can be difficult to effectively collect and arrange this data in a way that is easy for users to navigate.

The All-In-One Dashboard to track and record your product against the competition is this Notion template.

Competitors:

List and describe each competitor, including their business background, market position, strengths, weaknesses, and strategic focus.

Include information on their products, services, and any unique selling propositions.

Benefits:

• Understand the competitive landscape and benchmark your business against others.
• Identify areas where competitors excel and areas where your business can differentiate itself.

Properties:

• Type:
• Describes the type or category of the competitor (e.g., direct competitor, indirect competitor, potential disruptor).
• Helps categorize competitors based on their business model and industry focus.
• Info:
• Provides general information about the competitor, such as a brief overview of their business.
• Offers a quick snapshot of the competitor's key attributes and purpose.
• Product:
• Describes the main products or services offered by the competitor.
• Aids in understanding the competitive landscape by highlighting what products/services competitors emphasize.
• Target Segment:
• Identifies the specific market segments or customer groups that the competitor targets.
• Helps understand the competitor's positioning and aligns with your analysis of target segments.
• Website:
• Provides the URL of the competitor's website.
• Allows quick access to additional information and insights available on the competitor's official platform.
• Funding:
• Indicates the funding status of the competitor, if applicable.
• Offers insights into the financial resources available to the competitor, influencing their strategic capabilities.
• Years In:
• Specifies the number of years the competitor has been in operation.
• Indicates the competitor's level of experience and tenure in the market.

Features:

Create a detailed feature matrix comparing your product to competitors. Include categories such as functionality, user experience, pricing, and support.

Benefits:

• Identify competitive advantages or gaps in your product's feature set.
• Inform product development by understanding what features are valued in the market.

Properties:

• Aesthetics:
• Describes the visual appeal and design aesthetics of the product.
• Provides insights into the product's overall look and feel, which can be a crucial factor for certain target segments.
• Design:
• Evaluates the overall design elements and user interface of the product.
• Highlights the user experience and design philosophy, which can impact customer satisfaction.
• Feature 1, 2, 3:
• Specifies individual features or functionalities offered by the product. Use as many columns as needed for different features.
• Provides a detailed breakdown of the product's capabilities and unique selling points.
• Price Range:
• Indicates the price range or pricing model of the product.
• Assists in positioning the product in the market based on affordability and perceived value.
• Reliability:
• Measures the product's reliability and stability in delivering its features and performance.
• Influences the product's reputation and customer trust, especially for mission-critical applications.
• Target Segments:
• Identifies the specific market segments or customer groups for which the product is designed.
• Aligns with marketing strategies and helps tailor the product to meet the needs of specific audiences.

Comparison:

Develop a comprehensive table or matrix highlighting key factors such as pricing, customer reviews, market share, and unique selling points.

Benefits:

• Visualize how your product stacks up against competitors.
• Facilitate strategic decision-making by identifying areas for improvement or areas where your product excels.

Properties:

• Branding:
• This property assesses and compares the branding strategies of the products or services. It may include elements such as brand identity, messaging, and overall perception in the market.
• Design:
• The "Design" property focuses on the visual and functional aspects of the products or services. It includes considerations like user interface, user experience, and overall design aesthetics.
• Product:
• This property evaluates and compares the core features and functionalities of the products or services. It encompasses the key offerings and capabilities that differentiate one product from another.
• Releases:
• The "Releases" property likely tracks and compares the frequency and significance of product updates or releases. This is important for understanding the commitment to innovation and improvement.
• Users:
• The "Users" property assesses and compares the user base of the products or services. It may include factors such as the size of the user community, user engagement, and user satisfaction.

Personas:

Create buyer personas representing the ideal customers for your product and each competitor. Include demographics, preferences, pain points, and behaviors.

Benefits:

• Tailor marketing efforts to resonate with specific customer segments.
• Inform product development to better meet the needs of your target audience.

Properties:

• Name:
• Represents the name of the persona, providing a way to identify and reference them.
• Title/Role:
• Specifies the professional role or title associated with the persona, helping to understand their position and responsibilities.
• Company:
• Identifies the organization or company to which the persona belongs, offering insights into their industry or business context.
• Contact Information:
• Includes relevant contact details such as email addresses, phone numbers, or other means of communication.
• Demographics:
• Provides information on demographic factors such as age, gender, location, and other relevant characteristics.
• Challenges/Pain Points:
• Describes the specific challenges or pain points that the persona may face in their professional or personal life.
• Goals/Objectives:
• Outlines the goals and objectives that the persona is likely to pursue, helping to align products or services with their needs.
• Preferences:
• Captures the preferences and preferences of the persona, offering insights into their decision-making criteria.
• Interests:
• Specifies the personal or professional interests that may influence the persona's choices and behaviors.
• Buying Behavior:
• Describes the typical buying behavior of the persona, including factors such as decision-making process and criteria.
• Feedback/Notes:
• Provides space for additional feedback, observations, or notes that can be valuable for refining the persona profile over time.

Target Segments:

Define target segments based on demographics, geography, industry, or any relevant criteria. Analyze how competitors position themselves in different market segments.

Benefits:

• Refine your marketing strategies by aligning with the most lucrative target segments.
• Uncover untapped market opportunities and potential areas for expansion.

• Potential Customers:
• Describes the characteristics and attributes of potential customers within a specific market segment. This includes demographics, preferences, and behaviors that make them likely candidates for the product or service.
• Competitors:
• Identifies and assesses the competitors that are targeting or dominating a particular market segment. This includes an analysis of competitor offerings, strengths, and weaknesses within the identified segment.
• Product Persona:

• Outlines the persona associated with the product or service tailored for the specific market segment. This includes the unique features, benefits, and value propositions that resonate with the identified customer group.