Competitor/landscape research involves looking at not only direct competitors but also indirect competitors and competitive alternatives for a product or service.
The evaluation of competitors’ strengths, weaknesses, market positioning and strategies provides various insights that can help organisations to improve their own strategies.
Introduction to competitor/landscape research
Competitor research helps form a wider understanding of the landscape and how best an organisation can position itself relative to this. Organisations’ products or services to be reviewed will be gathered through stakeholders’ input and any existing research. These will be reviewed against a set of criteria based on the project objectives.
What is competitor/landscape research and why is it important?
Competitor or landscape research is the process of gathering and analysing information about other organisations, products or services that operate in the same market or industry. Competitor research is important as it allows businesses to identify gaps in the market and unmet user needs as well as benchmark their performance.
The role of competitor/landscape research
As a tool, competitor research empowers organisations to grasp their market landscape and, therefore, assess their position within their industry. With this in mind, organisations are able to make strategic decisions to stay competitive, innovative and relevant in a dynamic marketplace.
Benefits of competitor/landscape research
Competitor analysis empowers organisations with insights, risk management and innovative ideas by evaluating the strategies and market presence of competitors.
The 3 stages of competitor research
Stage 1: Defining goals and objectives
The goals of the project will be defined and agreed on with stakeholders during the kick-off workshop. This will then inform the criteria to be reviewed against.
Stage 2: Conducting the review
The criteria to be reviewed will be defined based on the project scope and objectives, tailored to the key areas of interest for this work.
Stage 3: Reporting
Following the review, we will provide a report on the findings.
The report on the findings will provide a summary of insights for each offering against the criteria identified, and where relevant, this will also highlight any points of comparison with your product or service.
Why choose Make it Clear
At Make it Clear, we take an evidence-based approach to everything we do. Understanding your organisation, audiences, and the context in which they interact is paramount to the way we work and deliver a best-in-class user experience.