6 Competitive Analysis Free Online FlashCards

What is the purpose of competitive analysis?

It helps a startup understand the alternatives customers have, how those options create value, and where the venture can credibly compete.

What makes an option a direct competitor?

Direct competitors offer a similar solution to a similar customer group.

What is an indirect competitor or substitute?

They address the same underlying problem in a different way; for example, videoconferencing can substitute for business travel.

What can the status quo look like for a customer?

Customers might keep using an existing tool, do the task manually, or decide not to act.

How should a startup make a fair competitor comparison?

Compare a manageable set of alternatives for the same customer segment using consistent criteria.

What does comparing price and total effort involve?

Compare what customers pay in money, time, and inconvenience—not just the listed price.

What evidence can support competitor analysis?

Useful evidence includes product information, pricing, customer reviews, interviews, and market or industry data.

Why distinguish facts from estimates and assumptions?

Separate observed facts from estimates and assumptions so decision-makers can judge how strong the evidence is.

What does Porter’s Five Forces examine?

It considers rivalry, new entrants, substitutes, and the bargaining power of buyers and suppliers to explain industry pressures and profitability.

What is positioning?

Positioning is the place a venture aims to occupy in the minds of a particular customer group relative to alternatives.

What makes a difference meaningful differentiation?

Differentiation is a meaningful difference that customers value, such as better service, convenience, quality, specialization, reliability, price, or experience.

When can a claimed difference become an advantage?

The venture must be able to deliver the difference, and customers must care enough about it to choose the offering.