What is competitive landscape?
How do you analyze current competitors and define the competitive landscape for products and services?
Please give examples, information and scenarios. Thank you.
Please see response attached (also presented below) and two supporting documents. Please see attached response for better formatting. I hope this helps and take care.
1. What is competitive landscape?
The competitive landscape is basically the company's competition in the market for similar or exact products and services. In other words, it includes the companies, services, and strategies of the competition. For example, McDonald's competitive landscape would include Wendy's, Burger King, and Dairy Queen, as well as the services (i.e., fast food, burgers, French fries, and the strategies used by these companies - 2 for 1 strategy, etc.).
See attached article "competitor's analysis" for other good examples.
This information is important to gain leverage against the competition or at least keep aware of the competition (other make strategic alliances with the competition for leverage). It is important for market entry and positioning.
2. How do you analyze current competitors and define the competitive landscape for products and services? Please give examples and scenarios!
You analyze the current competitors through various methods of research in order to define the competitive landscape (the companies of the competitors, the services/products of the competition, and the competitions strategies). The intent and goal is to establish yourself in ways that you can leverage (gives you a competitive advantage).
How? In other words, if your intent is to follow the leader and copy the competition, you need to collect information about the competition (i.e. talking to distributors, visiting their stores, talking to the workers, CEO of the - competition unknown to them of what you are doing, some companies hire ex-employees of the competition, look at financial reports, etc.) and built awareness about the competitions product category, set customer and channel expectations, and create momentum and demand for a product and service.
Likewise the competitions are doing the same for your products and service, which will exist regardless ...
By example and scenarios, this solution responds to the questions on competitive landscape. Supplemented with two exceptionally informative articles for further exploration of the competitive landscape and analysis.