Why: Reveal market gaps and strengths, aiding strategies to address weaknesses and bolster advantages
When: Suitable during market shifts, strategic pivots, or periodic competitive analyses
Instructions for running this play
- Prepare the radar. Before the exercise, draw a radar chart with nine segments on a large surface, with each segment representing an element of the Business Model Canvas.
\ - Prepare a list of competitors to be mapped during the exercise.
- Position competitors. Choose a distinct color pen for the first competitor and map their value on each segment of the radar, starting with “Value Propositions” and working your way around the chart clockwise. Measure value in terms of strength, robustness, monetary value, or any other relevant criteria.
- Continue with the next competitor. Using a different colored pen, repeat step 3 for the remaining competitors.
- Plot your own company. Consider how your company is positioned in relation to others.
- Identify gaps. Determine where your company has stronger or weaker positions compared to your competitors.
- Plan next steps. Discuss strategies to address identified gaps, whether to catch up with competitors, further cement your lead, or deliberately ignore certain aspects.
Competition Radar is one of the cards in this deck
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