A competitive analysis matrix

A competitive analysis matrix organizes information about competitors in a structured format, making it easier to compare products across key dimensions. This visual tool helps product teams identify competitive gaps, prioritize features, and craft differentiation strategies.

The most effective competitive matrices go beyond simple feature checklists to include qualitative assessments of how well competitors execute on different aspects of their product and business.

To create a useful competitive analysis matrix:

• Select relevant dimensions: Choose evaluation criteria that matter to your customers and influence purchasing decisions. These typically include: key features and capabilities, pricing structure, target customer segments, marketing positioning and messaging, strengths and weaknesses, and user experience and design.
• Gather accurate information: Research competitors through their websites, product demos and free trials, customer reviews and testimonials, and social media discussions.
• Use consistent evaluation criteria: Apply the same standards to all competitors, including your own product. Consider using a simple rating system (1-5 scale) alongside qualitative notes.