Competitive hypothesis

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Goal

Preliminary map the competitive environment.

Checklist

  • Why will customers buy your product?
    • Your product is something they need but they don't know it yet.
    • Your product can do something they need and they can only get via multiple vendors
    • You solve a real, definable pain that cannot be solved any other way. If so, how?
    • Our product is faster / cheaper / better than anything else out there. If so, you believe your superiority will last multiple generations because...?
    • Our products allow them to do something they could never do before
  • Why are you different?
    • New market (selling to new users who have no comparable product)
    • Better Features?
    • Better Performance?
    • Better Channel?
    • Better Price?
  • If this were a grocery store, which products would be shelved next to it?
  • Who are your closest competitors today?
    • In Features?
    • In Performance?
    • In Channel?
    • In Price?
  • What do you like most about the competitors product?
    • What do your customers like most about the competitors product?
    • If you could change one thing in a competitors product, what would it be?
  • Who in a company uses the competitors products today?
    • By title? By function?
  • How do these competitive products get used?
    • Describe the work-flow / design flow for an end user
    • Describe how it affects the company
    • What percentages of their time is spent using the product?
    • How mission critical is it?

Exit deliverables

  • A description of the competitive environment.

Part of: Customer Development Checklist - Customer Discovery Part of book: The Four Steps to the Epiphany