Leaders
High market share, strong product
Challengers
Growing fast, disruptive approach
Niche Players
Specialized, loyal customer base
Visionaries
Innovative but limited reach
Features
Pricing
Market Fit
SWOT
What is Competitive Analysis?
Competitive analysis is a strategic research process that identifies, evaluates, and compares competitors to understand their products, strategies, strengths, and weaknesses. It provides the intelligence needed to make informed decisions about product features, pricing, positioning, and go-to-market strategies.
Effective competitive analysis goes beyond feature checklists. It examines how competitors position themselves, who they target, what customers love and hate about them, and where market opportunities exist. This intelligence helps you differentiate your product and avoid competing on dimensions where you cannot win.
This template provides a comprehensive framework for conducting competitive analysis, including feature comparison matrices, SWOT analysis, pricing analysis, and strategic recommendations.
Competitive Analysis Template (Copy-Ready)
A complete competitive analysis template with all the sections you need. Customize for your specific market and competitors.
Competitive Analysis Template
Complete framework with SWOT, features, and pricing
# Competitive Analysis: [Your Product] vs. Market ## Executive Summary **Analysis Date:** [Date] **Analyst:** [Name] **Purpose:** [Strategic decision this analysis supports] ### Key Findings 1. [Most important competitive insight] 2. [Second key finding] 3. [Third key finding] ### Strategic Recommendations 1. [Primary recommendation] 2. [Secondary recommendation] 3. [Tertiary recommendation] --- ## Competitor Overview ### Direct Competitors | Competitor | Description | Target Market | Est. Market Share | |------------|-------------|---------------|-------------------| | [Name] | [Brief description] | [Target segment] | [%] | | [Name] | [Brief description] | [Target segment] | [%] | | [Name] | [Brief description] | [Target segment] | [%] | ### Indirect Competitors | Competitor | How They Compete | Threat Level | |------------|------------------|--------------| | [Name] | [Description] | High/Medium/Low | | [Name] | [Description] | High/Medium/Low | --- ## Feature Comparison Matrix | Feature Category | Our Product | Competitor A | Competitor B | Competitor C | |------------------|-------------|--------------|--------------|--------------| | **Core Features** | | [Feature 1] | ✅ | ✅ | ❌ | ✅ | | [Feature 2] | ✅ | ✅ | ✅ | ❌ | | [Feature 3] | ❌ | ✅ | ✅ | ✅ | | **Advanced Features** | | [Feature 4] | ✅ | ❌ | ❌ | ✅ | | [Feature 5] | ❌ | ✅ | ❌ | ❌ | | **Integrations** | | [Integration 1] | ✅ | ✅ | ✅ | ❌ | | [Integration 2] | ✅ | ❌ | ✅ | ✅ | **Legend:** ✅ = Available | ❌ = Not Available | 🔄 = In Development | ⭐ = Best-in-class --- ## Pricing Comparison | Tier | Our Product | Competitor A | Competitor B | Competitor C | |------|-------------|--------------|--------------|--------------| | Free/Trial | [Details] | [Details] | [Details] | [Details] | | Entry | $[X]/mo | $[X]/mo | $[X]/mo | $[X]/mo | | Professional | $[X]/mo | $[X]/mo | $[X]/mo | $[X]/mo | | Enterprise | Custom | Custom | $[X]/mo | Custom | ### Pricing Insights - [Key pricing observation 1] - [Key pricing observation 2] - [Key pricing observation 3] --- ## SWOT Analysis ### Competitor A: [Name] | Strengths | Weaknesses | |-----------|------------| | • [Strength 1] | • [Weakness 1] | | • [Strength 2] | • [Weakness 2] | | • [Strength 3] | • [Weakness 3] | | Opportunities | Threats | |---------------|---------| | • [Opportunity 1] | • [Threat 1] | | • [Opportunity 2] | • [Threat 2] | ### Our Position | Strengths | Weaknesses | |-----------|------------| | • [Strength 1] | • [Weakness 1] | | • [Strength 2] | • [Weakness 2] | | Opportunities | Threats | |---------------|---------| | • [Opportunity 1] | • [Threat 1] | | • [Opportunity 2] | • [Threat 2] | --- ## Market Positioning Map [Describe positioning on key dimensions] **Axis 1:** [e.g., Price: Low ←→ High] **Axis 2:** [e.g., Complexity: Simple ←→ Enterprise] | Quadrant | Competitors | Our Position | |----------|-------------|--------------| | Low Price / Simple | [Names] | [Yes/No] | | Low Price / Enterprise | [Names] | [Yes/No] | | High Price / Simple | [Names] | [Yes/No] | | High Price / Enterprise | [Names] | [Yes/No] | --- ## Customer Sentiment Analysis ### Review Site Ratings | Platform | Our Product | Competitor A | Competitor B | Competitor C | |----------|-------------|--------------|--------------|--------------| | G2 | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | | Capterra | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | | TrustRadius | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | [X.X] ⭐ (n) | ### Common Praise (Competitors) - [Theme 1]: [Which competitors excel here] - [Theme 2]: [Which competitors excel here] ### Common Complaints (Competitors) - [Theme 1]: [Which competitors struggle here] - [Theme 2]: [Which competitors struggle here] --- ## Strategic Implications ### Where We Win 1. [Competitive advantage 1] 2. [Competitive advantage 2] 3. [Competitive advantage 3] ### Where We Lose 1. [Competitive gap 1] 2. [Competitive gap 2] ### Recommended Actions | Priority | Action | Rationale | Timeline | |----------|--------|-----------|----------| | High | [Action] | [Why] | [When] | | Medium | [Action] | [Why] | [When] | | Low | [Action] | [Why] | [When] | --- ## Appendix ### Data Sources - [Source 1] - [Source 2] - [Source 3] ### Next Review Date: [Date]
How to Conduct Competitive Analysis
Identify Your Competitors
List direct competitors (same product/market), indirect competitors (different product/same problem), and potential future competitors.
- •Search for keywords your customers use
- •Check review sites like G2 and Capterra
- •Ask customers who else they evaluated
- •Monitor industry news and funding announcements
Gather Intelligence
Collect information from public sources about each competitor's product, pricing, positioning, and strategy.
- •Sign up for free trials or demos
- •Read customer reviews systematically
- •Analyze their website messaging
- •Review job postings for strategic hints
Analyze and Compare
Organize findings into comparable frameworks like feature matrices, SWOT analysis, and positioning maps.
- •Focus on dimensions that matter to customers
- •Note where competitors are investing (job posts, features)
- •Identify patterns in customer complaints
- •Map positioning on key buying criteria
Extract Strategic Insights
Translate analysis into actionable recommendations for your product and go-to-market strategy.
- •Identify underserved segments
- •Find features to build or avoid
- •Determine competitive positioning
- •Inform pricing strategy
Best Practices
Do This
- +Update analysis regularly (at least quarterly)
- +Focus on customer-relevant dimensions
- +Use multiple data sources for validation
- +Share findings across the organization
Avoid This
- -Obsessing over competitors instead of customers
- -Copying features without understanding why
- -Using unethical intelligence gathering
- -Letting analysis become outdated
Frequently Asked Questions
What is competitive analysis?
Competitive analysis is a systematic process of identifying, researching, and evaluating your competitors to understand their strengths, weaknesses, strategies, and market positioning. It helps product managers make informed decisions about product features, pricing, positioning, and go-to-market strategies by understanding the competitive landscape.
How often should you conduct competitive analysis?
Conduct a comprehensive competitive analysis quarterly, with ongoing monitoring of competitor activities. Major analysis should happen before strategic planning cycles, new product launches, or entering new markets. Set up alerts for competitor news and product updates to stay informed between formal analyses.
What are the key elements of competitive analysis?
Key elements include: product features and capabilities, pricing and packaging, target market and positioning, strengths and weaknesses (SWOT), go-to-market strategy, customer reviews and sentiment, technology stack, team and funding, and market share. Focus on elements most relevant to your strategic decisions.
How do you identify competitors?
Identify direct competitors (same product, same market), indirect competitors (different product, same problem), and potential competitors (could enter your market). Sources include customer research, industry reports, search results for your keywords, review sites, and industry events. Include both established players and emerging startups.
What is the difference between competitive analysis and market research?
Competitive analysis focuses specifically on understanding competitors—their products, strategies, and positioning. Market research is broader, examining overall market size, customer needs, trends, and dynamics. Competitive analysis is one component of comprehensive market research.
How do you gather competitive intelligence ethically?
Use publicly available sources: websites, press releases, job postings, customer reviews, social media, SEC filings, patents, and industry reports. Attend public events and conferences. Talk to customers who have evaluated competitors. Never misrepresent yourself, use deceptive practices, or access proprietary information illegally.
About the Author
Aditi Chaturvedi
·Founder, Best PM JobsAditi is the founder of Best PM Jobs, helping product managers find their dream roles at top tech companies. With experience in product management and recruiting, she creates resources to help PMs level up their careers.