Tips to create a strong market landscape analysis for startups

1. Competitive
landscape
analysis
Generator
THE
powered by

2. Objectives
•Key parameters of market research
•Essentials of market segmentation
•Competitor analysis strategy
•Resources for doing market research

3. Market Research

4. MarketResearch
Process of researching a specific market to determine its
size and trends – data generally not readily available and
is gathered through interviews, interactions
MarketIntelligence
Existing information that can be used to study markets,
competition & demographics that is compiled in a
regular, ongoing basis
Definitions

5. At the highest level, a“market” isthe summation of
the various providers offeringthe same product or
service,usually within afinite set bound by a
specific customer or geography

6. Market research can
give a picture of what
kinds of newproducts
andservices may bringa
profit
But it involves asking the
right questions, in the right
way, to the right people

7. Failure to domarketresearchbefore you begin a business
venture or during itsoperation is like driving a carfrom
Melbourne to Broome without a map orstreet signs

8. Features of aMarket
•Growth Rate
•Size
•Structure
•Maturity
•Disruption
•Concentrations

9. Market
segmentation

10. Groups of customers or buyers who share common
characteristics, needs, purchasing behaviors or
consumption patterns
Market segments

11. Waysto Segment a Market
Personal Characteristics
• Social Class
• Income
• Occupation
• Education
• Housing
• Family Influence
• Time influence
Psychological Characteristics
• Needs
• Perceptions
• Self-Concept
• Aspiration Groups
• Reference Groups

12. Market AdoptionTrends
• Innovators (2-3%)
• Early Adopters (12-15%)
• Early majority (33%)
• Late Majority (34%)
• Laggards (12-15%)

13. Type of Firm Segmentation Base
Banking
Demographic
segmentation
Mobile phone carriers Benefit segmentation
Frozen food
manufacturers
A broad mix is used
here: Demographic
segmentation
Psychographic
segmentation
Behavioral
segmentation
Toothpaste Benefit segmentation

14. Competitor
analysis

15. your competitors aren’t
whoyou thinktheyare
your competitors are
whoyour customers think
theyare
You’ll never see the automobile
coming if your only focus is the
goal of making the best horse-
drawn carriage

16. Reasons to do
Competitive
Landscaping3

17. 1. avoidreinventing
the wheel
…especially if you
don’t know what your
customers will pay for

18. 2. smashthe
competition
… and take their
hard-won spot

19. 3. help you better
communicate with
yourcustomers

20. stop

21. Before
you get
started…

22. Identify the
consumer needs you
wish to understand
Cast a wide netfor products
and services thatsatisfy
those needs

23. choosethe country/region to study if
customers, competitors, orthe way products
are used differ widely across borders

24. Choosea frame of
analysis
•trackthe entire
marketfora product
or a specificsegment
•trackproductsor
brands
•Etc.

25. Key information you would like research to uncover?
By defining what you intend on researching you’ll keep your
research focused and effective
Example objectives:
o Decide whether to launch a new product or service
o Decide where to launch a new product or service
o Discover new market opportunities for your product
Define YourResearch Objectives

26. Ok, now…

27. How to do competitive
landscape analysis in
(not so) easy steps3

28. 1. Identify competitors
List all potential and possible
competitors on a spreadsheet –
one for each row

29. 2. Analyse (whatyou show)
•A list of features that you can claim you have
they don’t
•Segments of market which are market
determined
•List of capabilities you intend to build which
your customers care about
•Any other set of capabilities you can distinctly
and objectively bucket each offering by

30. Some Questions to answer
• How concentrated is the market?
• Competitor background (traditional, foreign, new players)
• Positioning along the value chain
• How competitors have evolved
• Competitor financials insights
• How easy is it to grow market share?
• How easy is it to enter?
• Who are the suppliers/buyers and what is their power?
• What are the key industry trends?
• Why is the industry in decline/growth?

31. ConductingMarket Research
Primary Research
Collecting primary research can include:
o Interviews (phone or face-to-face)
o Surveys
o Focus groups
Map out your questions to each group
Anticipate different follow-up questions based on positive,
negative or indifferent responses
(Qualitative vs Quantitative)

32. Questions might include:
oWhat challenges stand in the way
of getting your job done?
oWhat are your top 3 headaches?
oWhat do you like or dislike about
current products or services
currently on the market?
oWhat areas would you suggest for
improvement?
oWhat factors do you consider when
purchasing?
oWhat is the appropriate price for a
product or service?

33. Secondary Research
Analyse data already published to identify
competitors, establish benchmarks, identify
target segments

34. PyramidofInfluence

35. 2°Industry reports, analyst reports
o Frost & Sullivan
o Global Data
o iData
o Ernst Young
o BCC Research
o DataMonitor Healthcare
o MedTRACK
o Lux Research Gartner
o S&P Capital IQ
o And sites like datamonitor.com,
transparencymarketresearch.com

36. 2°Small business portal at the Australian Bureau of Statistics (ABS)
IBISWorld to find metro & regional data - data is available for
numbers of business, by size in geographical categories (free
access to detailed IBISWorld industry information at Victorian
Government Business Offices (VGBO) located in metropolitan
and regional centres throughout the state)
Australian Small Business Key Statistics provides key statistics
on business survival rates, small business exports & innovation

37. 2°Google scholar to search peer-reviewed papers, theses, books,
abstracts and articles, from academic publishers, professional
societies, preprint repositories, universities and other scholarly
organizations
NCBI PubMed comprises 24+ million citations for biomedical
literature from MEDLINE, life science journals, and online books
Google patents to search over 7 million US patents
WIPO to search international patents

38. 2°Scopus is one of the world's largest abstract and indexing
database, covering thousands of biomedical journals (includes
the journals indexed by ScienceDirect)
Search online databases of companies, like Qmed and
MedicalExpo
Search grant databases (like NIH Reporter) to see who’s gotten
funding for projects related to yours
Crunchbase

39. 2°Government Sites like…
Search the FDA and other regulatory body databases for things
like CLIA waived devices, IVD, Premarket Approvals
CDC
NIH-NCI
WHO
TGA

40. 2°University library databases:
o Best practice is a decision-support tool at the point of care
o Cochrane library for evidence-based medicine, integrating clinical
expertise with systematic research
o EBM reviews Simultaneously search the CochraneDSR, ACP Journal
Club, Database of Abstracts of Reviews of Effects, (Cochrane
methodology register, Health technology assessment, NHS
economic evaluation database) & Cochrane Central Register of
Controlled Trials
o Pharmaceutical news index bibliographic information & indexing
for 22 key US & international pharma, healthcare, biotech, medical
device, & cosmetic industry newsletters

41. 2°Check out dedicated medical device websites like Fierce
Medical Device and Mass Device and MD+DI and MedGadget
Industry associations
o MTAA
o AusBiotech (AusMedtech)
o Eucomed
o And many more

42. Social media reconaissance:
• social media and product review sites
• obtain some real metrics on how many followers they
have
• use sites like Compete and Alexa to get a very rough
(and let me emphasize, very rough) look at the traffic
numbers and patterns for your competitors’ sites.
2°

43. "A few people warned me this market
wouldn’t support our product pricing
schedule.”
Learning from Other
People’s Mistakes

44. Relying on published work of others doesn't give the full picture-- it can
be outdated, can miss other relevant factors
Using common search engines only gets data available to everyone & it
may not be fully accurate
Friends & family are often not the best survey subjects-- you need to
talk to real customers about their needs, wants and expectations.
Common Mistakes
Using only secondary research
Using only freeweb resources
Surveying only thepeopleyou know

45. Horizontals &Verticals
Horizontal plays
Improve functional operations
Vertical plays
Improve industry-specific business activities

46. Market Sizing– The3 P’s
Population 25M
Discoverable fact
Penetration 10%
Market research to validate
Pricing $40
Market research/analogies
x
x
= $100M

47. 3. Visualise (Howyou showit)
•Look for patterns to showcase a small
subset, (2-3) of the key dimensions you
can differentiate
•Then choose the right visualization

48. 2x2

50. Petal List

52. Checklist

55. WANT TO KNOWMORE?
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