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A Competitive Landscape Analysis is an investigation that is completed when an organization is interested in knowing who their competitors are and their relative position in the market. More than just identifying competition, a Competitive Landscape Analysis involves determining the strengths and weaknesses of the competition as well as their strategies, services, products and change management plans.
Through a Competitive Landscape Analysis, an organization can compare itself to the competition on various dimensions. The organization can then identify areas for improvement. Broadly, the aim of the Competitive Landscape Analysis should be to demonstrate how the organization compares to others in the industry. In order to implement a Competitive Landscape Analysis, complete the following steps:
Step 1: Gather all publicly available information from the organization and its competition. These materials include but are not limited to marketing documents, brochures and fliers, and website information. This data will provide you with basic knowledge about the company. During this step you want to identify:
Step 2: Identify third-party individuals who can provide additional insight. These individuals might be external consultants who are knowledgeable about the industry of interest, or employees in a niche area of the organization who can give their take on the competition from their specific perspective.
Step 3: Make sure that all of the information that you have accumulated is correct.
Step 4: Repeat. The business world is in a state of constant change. In order to remain competitive, the organization must continually reassess the other businesses in the industry.
Alternatively, Competitive Landscape Analyses can be conducted for specific purposes. Most commonly they are done for:
There are several tools that can be useful for creating a Competitive Landscape Analysis. In addition to typical strategic documents, such as spreadsheets, Competitive Landscape Analyses can be done using Venn Diagrams, Process Maps, 2×2 quadrant charts, and other visual tools.
Unlike most traditional Competitive Landscape Analysis techniques, upBOARD’s online Competitive Landscape Analysis collaboration tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s portfolio of other business strategy best practice tools and templates, including:
2 X 2 Matrix, ADL Matrix, Affinity Diagrams, Baker’s 4 Strategies of Influence, Balanced Scorecard, Benchmarking, Blue Ocean Strategy, Bowman Strategy Clock, Build-Measure-Learn Feedback Loop, Business Model Canvas, CAGE Distance Framework, Competitive Analysis, Competitive Landscape Analysis, Contingency Planning, Core Competence Analysis, Critical Success Factors, Discovery Driven Planning, Economic Value Added, First Mover Advantage, Five Forces Model, Force Field Analysis, Gap Analysis, GE McKinsey 9-Box Matrix, Go To Market Strategy, Hambrick & Frederickson’s Strategy Diamond, Hedgehog Model, Hook Model of Behavioral Design, Hoshin Planning System, Kay’s Distinctive Capabilities Framework, Key Outcome Indicators, Kotler’s Five Product Levels Model, Kotler’s Pricing Strategies, Lafley & Martin’s Five Step Strategy Model, McKinsey 7S Model, McKinsey’s Seven Degrees of Freedom for Growth, Mergers & Acquisitions, Mission Statements, Mullin’s Seven Domains Model, OGSM Framework, Ohmae’s 3-C’s Model, Partner Relationship Management, PEST Analysis, PESTLE Analysis, Porter’s Diamond, Portfolio Management, Purpose Statements, Pyramid of Purpose, Scenario Planning, Simonson & Rosen’s Influence Mix, SMART Performance Metrics, SMARTER Goals, SOAR, Strategic Goals, Strategy Map, Strategy Roadmap, Strategy Uncertainty Map, SWOT Analysis, TOWS Matrix, Triple Bottom Line, USP Analysis, Value Chain Analysis, Value Disciplines Model, Value Net Model, Values Statement, Vision Statements, VRIO Analysis, and Weisbord’s Six-Box Model.