Complete Definition
The competitive landscape is a comprehensive view of all players competing for your target customers' attention and money. Understanding it is crucial for positioning, differentiation, and strategic planning.
Types of Competitors
Direct Competitors
Same product solving same problem for same customers. Example: Uber vs Lyft
Indirect Competitors
Different product solving same problem. Example: Uber vs public transit
Substitutes
Different solution to the underlying need. Example: Uber vs car ownership
Potential Entrants
Companies that could enter your market. Example: Google Maps adding ride-hailing
Analyzing Competitors
- Product features and pricing - Target market and positioning - Strengths and weaknesses - Market share and growth - Funding and resources - Team and leadership - Technology and IP - Customer reviews and sentiment
Competitive Positioning
Where you choose to compete: - Feature differentiation - Price positioning - Market segment focus - Geographic focus - Use case specialization
Responding to Competition
- Don't ignore competitors - Don't obsess over competitors - Focus on customer problems - Build defensible advantages