A solid competitive analysis should encompass these three key viewpoints: Us vs. Us; Us vs. Them (all of them and each of them); Us vs. Those (those dream brands who we want to be when we grow up).
There are many frameworks you can use for both general and industry specific competitive analysis. However it is nearly impossible to avoid either being ‘pigeon-holed’ or ‘rabbit-holed’ by the immeasurable quantity of content that rages forth from the fire hose of the Internet. All of us are operating in some form of “filter bubble” that actively filters and focuses our searches, social interactions and content consumption.
you can’t predict the future with certainty.Nevertheless, you still have to plan for it, even when you don’t know precisely what’s it going to be – what your market will look like, how technology might evolve, and how your competition might respond.
You can gather and analyze the available information. But what happens when you want to look beyond today and examine your rivals or your market a few years from now? Uncertainties mount, yet you need to steer your company down some path — hopefully the right one — anyway.Facing such uncertainty, I’ve seen too many companies get caught up in trying to predict the future. Instead, here are four common pitfalls to avoid as you try to anticipate what a rival may do or where your market may go in the future:
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