Questions it can answer
- Who do we compete with?
- How do we perform against our competitors?
- Why do our competitors win?
What is a competitor benchmark survey?
Competitor benchmark surveys explore what other products or services people are comparing yours against when making a decision. They should be used when you want to understand how your product or service is viewed in comparison to others.
Advantages
- Understand who you compete with
- See where gaps exist against competitors
- Define opportunities for improvement
Limitations
- Sample size can be large depending on the desired confidence level
- Might not be a fit for products in new categories
- Could be hard to find competitor users