Let’s be honest, if you were the only one in your market to sell a product, and your customers didn’t have a real BATNA (Best Alternative to a Negotiated Agreement), you could supply whatever product and get away with it quite easily.
As product people, having an up-to-date (1/year) product oriented competitive landscape analysis is ‘a must’. That’s the only way for you to make sure that your product not only matches the target customer requirements but more importantly exceeds competitors’ offering in at least 3 product areas.
This post will offer you an excel based tool that you can use in order to gather and analyze your competitors’ product offering as well as possible conclusions that you can derive from such an analysis.
An interesting exercise to determine the value of your product over your competition via competitive analysis of products features
See on onproductmanagement.net