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Conducting competitive analysis by Jaime Levy

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Conducting Competitive Analysis

“[Analysis is] the skilled application of scientific and non-scientific methods and processes by which individuals interpret data or information to produce insightful intelligence findings and actionable recommendations for decision makers.”1

Babette Bensoussan and Craig Fleisher, Business and Competitive Analysis

The devil is in the details that you have just collected by doing a thorough investigation of the marketplace. In this lesson, I’m going to cover the basics for tackling the analysis section of the Competitive Analysis Matrix. By the end of the lesson, you’ll know several useful techniques that will help you to easily convert the mounds of raw data in your grid into actionable learnings. My goal is to prepare you to take a stance on the viability of your product and to make recommendations about how to move forward—in other words, Tenet 1, Business Strategy (Figure 1-1).

Figure 1-1. Tenet 1: Business Strategy

The Blockbuster Value Proposition

Our UX strategist, Jaime, talks to Paul, a big-time movie producer, on a Hollywood backlot about his idea for a shopping site for the wealthy Busy Man. He’s just revealed how his value proposition also solves his personal problem.

INT. BUNGALOW – MORNING The shot frames JAIME and PAUL. Paul is cocksure. JAIME is inquisitive. JAIME Do you know if there are any competitors already in the space? Is anyone already ...

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