Running a competitive analysis: Find, drill down, and evaluate your competition

Evan Kimbrell, Director at Sprintkick

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7 Lessons (39m)
    • 1. Welcome to the class!

      1:44
    • 2. First thing to do

      1:05
    • 3. The idea we're going to use as an example

      2:18
    • 4. Search techniques for finding competitors

      13:20
    • 5. Running a competition analysis

      16:23
    • 6. The class project

      2:15
    • 7. Keep the learning going

      1:49

Project Description

Assignment: Your first assignment as a detective

Now that you know how to look for competitors, let's get in some practice.

Use the techniques from the class to 1) find potential competitors 2) analyze their strengths and/or weaknesses.

Take an idea you have, a business you already run, or borrow an idea from the PDF attached to this project.

If you don't have an idea or business, look at the attached PDF and try filling that out instead. The PDF includes made-up businesses with instructions for finding their competitors and researching them.

Use the skills we covered in class to find potential competitors. If you find a competitor (or multiple) list them out and answer a couple questions about them. See below.

Deliverable:

If you find a potential competitor for your idea, list out their information and answer some questions about them in the following format:

  1. Idea or business: ______________ (1-2 sentences).
  2. Did you find any potential competitors? If not, why do you think that is?
  3. Name of competitor #1: ________________
  4. What are the strengths of this competitor?
  5. Do you consider them to be a real competitor or not? Why or why not?
  6. Name of competitor #2: ________________
  7. What are the strengths of this competitor?
  8. Do you consider them to be a real competitor or not? Why or why not?

If you prefer, you can use the worksheet attached. If you want, you can include a screenshot of your competitors. We'll discuss in the the comments.

If you don't find any competitors that's okay, just try your best to explain why there aren't any (or why you weren't able to find them).

Resources:

Student Projects