Integrating CI throughout the GTM and product launch plan
By conducting a thorough competitive analysis, companies can gain a better understanding of their competitor's strengths and weaknesses and identify opportunities to develop innovative products or features that meet unmet needs in the market. Furthermore, competitive intelligence can also help companies stay up to date on emerging trends and technologies, providing valuable insights that can inform product development decisions and drive innovation. In this part, we will examine some of the most prevalent forms of competitive analysis that can provide such valuable insights.
Substitute analysis (part of Porter's five forces)
As previously mentioned, it is crucial to take into account competitors that are not just in the same industry but also those that offer similar products or services. This is commonly referred to as keeping an eye open for substitutes. These are products or services that are not in the same...