If you want to build an innovative product, you must first collect, compartmentalize, analyze data, and act on it to be successful.
Competitive Research & Analysis template will help you inform the strategic and tactical business decisions of your product.
After all, you don’t want to just launch a product that copies all your competitors’ features as is. You need systematic thinking to organize information and cherry-pick critical features and opportunities that will create value for your customers.
Why Do You Need It?
Without a sober evaluation and understanding of how you stack up against competitors, the product can result in failing with attracting, retaining, and deepening the relationship with your core group of target customers.
Remember, partial research will lead to partial decisions. The devil is in the details you've just collected.
You’ll be able to easily convert the mounds of raw data in your grid into actionable learnings and make recommendations about how to move forward with your business strategy.