Tools and techniques like Market sizing, identification of competition, classification of competition, and feature tables are used to better understand the competitive landscape. The common thread running through each of these tools and techniques is that their output is accurate for certain conditions that exist at a given point in time. The competition, however, spans time; the competition is never static; the competition never ceases to evolve.
As a good product manager, it is your duty to keep tabs on the competition and appropriately respond to any changes in the competitive landscape. There are five dimensions along which competitors are most-often evaluated — product core, number of users, brand perception, design, and speed. By keeping an eye out for these three major events:
you will have your finger on the pulse of the competitive landscape and be well-informed to reallocate resources or augment future roadmaps appropriately. Doing is so essential to both your success as a product manager and the success of your product offering. This article will discuss each of these events and how they affect each of the five dimensions and list some information sources to ensure you stay up-to-date.
Venture capital (or even debt) infusion has the potential to affect the five dimensions in the following manner:
Just like fundraising, an acquisition has the potential to:
New features or products can augment the target audience for a given product or turn indirect, potential, and substitute competitors into direct competitors.
Information on fundraising and acquisitions can be found on:
Information on new product launches or new features can be found on: