Competitive Analysis Checklist: From Zero to Decision

Most competitive analysis fails for one reason:

It collects information but does not help make decisions.

This post fixes that.

Instead of theory, this is a usable checklist + template you can apply immediately.

Full guide + resources.

What this solves (in plain terms)

Goal:

Turn a messy list of competitors into a clear decision.

Not:

• long reports
• fancy frameworks
• over-detailed comparisons

Yes:

• small list
• simple structure
• obvious next step

The 5-step competitive analysis checklist

This is the only structure needed.

Step 1: Define the problem

Write one line:

• What problem is being solved?

Example:

• Help users reset passwords quickly
• Help users complete checkout faster

If this is unclear, the analysis will be useless.

Step 2: Find competitors (quick method)

This is where most people overdo it.

Use this rule:

Pick 3–5 competitors max

How to find competitors:

• Search the problem on Google
• Look at tools that appear repeatedly
• Check product directories or app stores

Selection mix:

• 1 strong competitor
• 1–2 average competitors
• 1 alternative approach

That is enough.

More than 5 = noise.

How to find competitors without wasting time

Use this fast filter:

Include only competitors that:
- solve the same core problem
- are visible in search or marketplaces
- have clear pricing or features

Exclude:

• unrelated tools
• edge cases
• tools with no clear positioning

Example:

For a login system:

• Tool A: secure login provider
• Tool B: simple login plugin
• Tool C: authentication platform

Skip anything outside that scope.

Step 3: Build the comparison table

This is the core.

Do not overcomplicate it.

Use this exact structure:

| Competitor | Price | Key Feature |
|------------|------|-------------|
| Tool A     | Low  | Fast login  |
| Tool B     | Mid  | Extra security |
| Tool C     | High | Advanced features |

Rules:

• max 3–5 columns
• keep labels simple
• avoid technical overload

If the table is hard to scan, it will not be used.

What to include in a competitive analysis report (minimum version)

If writing a report, keep it short.

Required sections:

• Competitor name
• Price
• Key feature
• Strength
• Weakness

Optional (only if useful):

• user feedback
• onboarding experience

Avoid:

• long descriptions
• unnecessary technical details

Step 4: Identify patterns (this is where value comes from)

Look at the table and ask:

• Are most tools expensive?
• Are most tools complex?
• Are most tools missing something obvious?

Example patterns:

• All tools are high price → gap for low-cost option
• All tools are complex → gap for simplicity
• All tools are slow → gap for speed

This step turns data into insight.

Step 5: Make a decision

This is the most important step.

Write one clear outcome:

Decision:
- Focus on speed over features
- Price lower than competitors
- Simplify user flow

If there is no decision, the analysis is incomplete.

Common mistakes (and fixes)

Mistake 1: Too many competitors

Problem:

• Hard to compare
• No clear patterns

Fix:

Limit to 3–5 competitors

Mistake 2: Too many features

Problem:

• Table becomes unreadable

Fix:

Keep only what users care about:
- price
- speed
- ease of use

Mistake 3: No conclusion

Problem:

• Analysis becomes documentation

Fix:

Always end with a decision

Mistake 4: Copying frameworks blindly

Problem:

• Adds complexity without clarity

Fix:

Use simple tables first
Add frameworks only if needed

Quick template (copy-paste)

Use this as a starting point:

Problem:
[What is being solved]

Competitors:
1. [Name]
2. [Name]
3. [Name]

Comparison Table:
| Competitor | Price | Key Feature |
|------------|------|-------------|
|            |      |             |

Patterns:
-
-
-

Decision:
-

This is enough for most use cases.

Example: simple use case

Problem:

• Help users reset passwords faster

Competitors:

• Tool A
• Tool B
• Tool C

Table:

• Tool A: low price, fast login
• Tool B: medium price, extra security
• Tool C: high price, advanced features

Patterns:

• Higher price = more complexity
• No simple fast option

Decision:

• Build a fast and simple solution

Why this works

This approach focuses on:

• clarity over completeness
• decisions over data
• simplicity over frameworks

It reduces time and increases usefulness.

Final takeaway

A competitive analysis is only useful if it leads to action.

Use this rule:

Small list → simple table → clear pattern → decision

That is the full system.

For a deeper breakdown with examples and variations, check the full guide.