Competitive Analysis
Identifying Key Competitors and Their Strengths
This prompt helps teams conduct a competitive analysis by identifying primary competitors and evaluating their strengths. By understanding the competitive landscape, teams can position their product effectively and identify areas for differentiation.
Responsible:
Product Management
Accountable, Informed or Consulted:
Product, Marketing, Strategy
THE PREP
Creating effective prompts involves tailoring them with detailed, relevant information and uploading documents that provide the best context. Prompts act as a framework to guide the response, but specificity and customization ensure the most accurate and helpful results. Use these prep tips to get the most out of this prompt:
Compile a list of known competitors in the industry.
Gather data from public sources such as websites, reviews, or reports.
Define user personas to align competitive strengths with audience preferences.
THE PROMPT
Help analyze the competitive landscape for [product/service name]. Identify:
Key competitors in the market, including direct and indirect competitors.
Their main strengths, such as unique features, pricing models, or customer support advantages.
How their strengths align with user needs or market demands.
Recommendations for how [product/service name] can differentiate itself or address gaps in competitor offerings.
If additional context about the market, user base, or industry trends is required, ask clarifying questions to refine the analysis.
Bonus Add-On Prompts
Suggest tools or resources to track competitor activity and performance over time.
Highlight competitors’ marketing strategies that resonate with target users.
Propose ways to capitalize on competitors’ weaknesses or market gaps.
Use AI responsibly by verifying its outputs, as it may occasionally generate inaccurate or incomplete information. Treat AI as a tool to support your decision-making, ensuring human oversight and professional judgment for critical or sensitive use cases.
SUGGESTIONS TO IMPROVE
Include regional competitors if the product targets specific geographic markets.
Focus on competitors’ weaknesses in addition to their strengths.
Add analysis of emerging players in the market.
Tailor the comparison to highlight areas most relevant to your product, such as pricing or features.
Incorporate feedback from sales or customer success teams on competitor mentions in user interactions.
WHEN TO USE
When launching a new product or entering a competitive market.
To refine positioning strategies based on competitor strengths.
During roadmap planning to address gaps in the competitive landscape.
WHEN NOT TO USE
If insufficient data on competitors is available.
When focusing exclusively on user-driven improvements without market context.