Understanding who else is there.
WHO COUNTS AS A COMPETITOR
Anyone the customer might choose instead.
WHAT THAT INCLUDES
Direct alternatives Different approaches to the same problem Doing it themselves Doing nothing
WHY DOING NOTHING MATTERS MOST
It is the most common alternative and it wins frequently.
WHAT TO ESTABLISH ABOUT EACH COMPETITOR
What they offer What they charge Who they serve What they do well Where they are weak How they would respond to you
WHY THE RESPONSE QUESTION
Entering a market where a strong competitor will respond decisively is a poor choice.
WHAT TO ASSESS
Whether they can respond, and whether they would bother.
WHY BOTHER MATTERS
Large competitors frequently ignore small segments.
HOW TO RESEARCH THEM
Their public materials and pricing Customers who considered them Reviews and complaints Using their product
WHAT REVIEWS REVEAL
Unmet needs, which is where opportunity sits.
WHAT TO DO WITH THAT
Consider whether you could serve those needs.
WHAT TO AVOID
Copying competitors Assuming their decisions are considered Competing on their terms
WHY THAT LAST POINT
You cannot win by being a worse version of someone else.
WHAT TO DO INSTEAD
Compete where your advantages matter.
WHAT TO MONITOR
Competitor changes, periodically.
WHAT NOT TO DO
React to every move.
