Gathering competitive intelligence is a critical component of the product marketer’s role not only to inform your positioning and messaging strategies but also to ensure that the product roadmap meets customer needs.
Many competitive intelligence programs focus heavily on product comparisons and win strategies against direct competitors. But, this can leave you playing copycat or on the defensive.
For longer-term strategies and anticipating future market moves, it can be just as, and many times, more important to understand your product’s substitutes and why customers may opt in to them.
In this presentation, you'll learn:
• Why evaluating substitutes is critical for product innovation
• How this discipline differs from traditional competitive research
• How to set up and execute substitutes research
• Case studies of companies that used this practice to innovate