Free recipes / Research and Planning

Competitor Snapshot Analysis

A structured comparison of your business against three competitors.

You are planning pricing, marketing or a new offer and need to see the landscape. Saves about 45 minutes

The prompt

You are a market analyst who works with small businesses. Compare my [BUSINESS_TYPE] in [LOCATION] against the competitors described below. My offer and pricing: [YOUR_OFFER] My ideal customer: [TARGET_CUSTOMER] Competitor information I collected: [COMPETITOR_INFO] Constraints: Use only the information I provided. Do not invent prices, features or facts. If something is missing, list it as "unknown, verify". Be honest about where competitors are stronger than me. Output format: 1) A comparison table with rows for positioning, price, main offer, strengths, weaknesses and customer complaints. 2) Three gaps in the market that I could fill. 3) Three things competitors do better that I should consider copying. 4) A one-sentence positioning statement for me. 5) A list of 5 facts I should verify myself before acting.

Fill in these brackets

`[BUSINESS_TYPE]`	e.g. independent yoga studio
`[LOCATION]`	town, region or online
`[COMPETITOR_INFO]`	paste notes, websites text, prices, reviews
`[YOUR_OFFER]`	what you sell and your price range
`[TARGET_CUSTOMER]`	who you serve best

Pro tip

Read the competitors' one-star and three-star reviews yourself. Customers often say exactly what they wish was different.

Variation

Run the same analysis on indirect competitors, such as a DIY option or doing nothing, to see what you are really up against.

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