A competitive landscape study is a method of researching your competitors in a systematic approach. It’s a comprehensive look at how they work, from marketing and sales to product creation and community building. Instead of relying on guesswork, this makes it easy to discover gaps, figure out where you can better what they’re doing, and design counter-strategies.
A competitor landscape analysis is usually broken down into six parts, which we’ll go over in more detail following this. They are as follows:
- Identifying who your competitors are
- Analyzing their services and products
- Taking a look at what they’re doing in terms of marketing
- Graphing their advantages and disadvantages (and your opportunities and threats)
- Identifying your unique selling proposition
- Choosing your price range