The Competitive Analysis provides a complete evaluation of the current competitive landscape that will allow decision making to drive accelerated adoption of the innovation. The steps include assessment of:
- Potential market space
- Product position for an emerging technology
- Product line extension for an existing technology
All entities influence the market perception for a technology. It is important to determine the scope of direct and indirect competitors, both current and future.
Achieve accurate intelligence of early development stage technologies where information may not yet be available in the public domain (i.e., universities, think tanks or device accelerators).
A Competitive Analysis is critical to investment decisions. Objective diligence executed externally can be used to support funding, as well as internal decision-making.
This analysis is often a launching point to continued due diligence.