Software markets are highly dynamic: product categories evolve fast, competitive advantages erode quickly, and new entrants can disrupt established markets any time. 

In such dynamic environments, competitive analysis needs to go beyond simple feature-by-feature comparisons and cast a wider net. First, it is not sufficient to focus on current products, we need to understand the vision and strategic direction of competitors. Second, we need to include indirect competitors in our analysis, as well as other alternatives or substitution products. Over time, these can turn into formidable threats, even if their current offerings seem primitive and unappealing.

This session discusses how to obtain insights that provide a strong foundation for competitive strategy. Main points of value for the audience

• understand the difference: direct competitors vs. indirect competitors vs. other alternatives/substitution products 

• learn about sources for obtaining information about your competitor’s strategies

• reflect your own practices for competitive analysis and competitive strategy

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Barbara Hoisl is a trainer and speaker, specializing in software-based business models, software business strategy, and software-based product innovation. She draws on more than 25 years of direct, first-hand experience in the global software and Internet industry, including 14 years with the software business unit at Hewlett-Packard (HP). Her German-language reference book on strategies for vendors of IoT products was published by Springer Gabler: “Produkte digital-first denken: Wie Unternehmen software-basierte Produktinnovation erfolgreich gestalten”.