Don't build in a bubble. The market is a conversation, and you need to know what others are saying.
1The Feature Matrix
Create a grid with your product and 3-4 competitors. List core features. Where are the gaps? If everyone has a feature, it's 'table stakes'. If nobody has it, it might be an 'opportunity' or a 'dead end'.
2Pricing Strategy
Analyzing competitor pricing helps you understand the 'Perceived Value' in the market. Are you the premium option or the budget alternative? Your pricing must align with your positioning.
3SWOT Analysis
Perform a SWOT (Strengths, Weaknesses, Opportunities, Threats) for each major rival. This helps you anticipate their next moves and find where they are most vulnerable.
