This lesson teaches innovators how to evaluate competitors to uncover opportunities, refine their unique value proposition (UVP), and build strategies to stand out in the market.
Skills: [Market Research] [Competitor Benchmarking] [Unique Value Proposition (UVP) Development] [Pricing Strategy] [Strategic Positioning] [Marketing Channel Analysis] [Opportunity Identification]
Time of lesson: 10 min 25 sec
Overview:
Picture this: you’re the proud owner of “Sunny Scoops,” and every day your truck is buzzing with locals lining up for your famous Mango Marshmallow Delight. Things are going great until one day, you notice a new ice cream truck parked just down the street—“Frosty Frenzy.” They’ve got neon lights, a catchy jingle, and—what?!—a discount on two-scoop cones. Panic sets in, but before you rush to slap a sale sign on your own truck, it’s time for some competitive analysis.
By studying Frosty Frenzy’s menu, prices, and marketing tactics, you’ll figure out what sets your business apart. Maybe you’re not the cheapest option, but you’ve got dairy-free flavors, a loyalty program, and a reputation for creativity. Now you can refine your pitch to show why your scoops are worth every penny. Because if you don’t know how you’re different or better, your customers (and investors) might just decide that one ice cream is as good as the next. 🍦🔍
Key Concepts Covered:
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Identifying Competitors: Techniques to identify direct and indirect competitors relevant to your product or solution.
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Understanding Competitor Strengths and Weaknesses: How to analyze competitor offerings, pricing, and market positioning to identify gaps and areas of opportunity.
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Leveraging Your Unique Value Proposition (UVP): Strategies to highlight what makes your solution unique and better suited to the target market.
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Pricing Adjustments: Using competitor insights to strategically set or adjust pricing.
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Optimizing Marketing Channels: Learning from competitor campaigns and channel use to optimize your own go-to-market strategy.
👉 Log in to Productable to upload your innovation's competitive analysis so your team knows how to stay ahead of the competition
Want to learn more?:
Check out these resources!
- “Blue Ocean Strategy” by W. Chan Kim and Renée Mauborgne – Introduces techniques to identify competitors and assess market gaps.
- “Porter’s Five Forces” – Classic framework from a Harvard Business Review article by Michael Porter for analyzing industry competition.
- “Competitor Analysis Template” (Hubspot) – Provides a practical template for comparing products and identifying strengths and weaknesses.
About the instructor: 
Nick Chagin brings a unique blend of intrapreneurial education and operational wherewithal to the Productable Success Team to help users both understand how to use the software and the methodology.
Prior to joining Productable, Nick facilitated entrepreneurship education programs for over 2000+ young aspiring entrepreneurs across 16 different countries, working with over 50 American and international universities and 11 U.S. Embassies spanning five continents. He led international partnership development, connecting bridges between entrepreneurially ecosystems. He developed high-level U.S. Department of State programs for initiatives like the Young Leaders of the Americas Initiative (YLAI) and Young African Leaders Initiative (YALI) while facilitating corporate innovation workshops for organizations like Dell.
He volunteers on the Board of Advisors for the ENACTUS social entrepreneurship club at the University of Illinois and teaches high school entrepreneurship programs with TiE Young Entrepreneurs Foundation.