Identifying Competitors: A Step-by-Step Guide

Grasping the full spectrum of your competitive landscape is pivotal not just for survival, but for thriving in your business domain. This template equips startup founders with the tools to identify and analyze competitors, encompassing direct, secondary, and substitute rivals.

How to use the template?

1. Gather initial data.

• Record essential information. Use the template to compile data from industry surveys, existing research, and direct competitor analysis.

• Organize for insight. Sections are tailored for categorizing data effectively, allowing for an efficient initial analysis.

2. Classify your competitors.

• Identify competitor types. Differentiate between direct, secondary/indirect, and substitute competitors to understand the various levels of competition.

• Detail examples. Provide clear examples of each competitor type to solidify understanding and application.

3. Analyze competitor strategies.

• Assess the "Four Ps". Dive into competitors' product offerings, pricing strategies, place of operation, and promotional tactics.

• Expand your view. Include additional analyses on positioning, reputation, team dynamics, and partnerships for a rounded view.

4. Evaluate strengths and weaknesses.

• Rate competitors. Utilize a straightforward rating system to evaluate competitors on key factors, simplifying comparative analysis.

• Conduct SWOT analysis. Summarize strengths, weaknesses, opportunities, and threats for a comprehensive competitive outlook.

5. Determine your competitive advantage.

• Analyze insights. Reflect on gathered data to identify your startup’s unique strengths and areas of focus.

• Finalize strategy. Decide on business actions based on experiment insights, focusing on enhancing your competitive edge.

Who is this template for?

This template is an essential tool for startup founders, marketing experts, product managers, and business strategists aiming to gain a deep understanding of their competition and carve out a unique market position.

Enjoy the process of uncovering your competitors' secrets and defining your strategic advantage with Appolica’s template!