INCUBATOR ACADEMY ROTTERDAM WORKSHOP DIFFERENTIATING AGAINST COMPETITION Activity
Time
Journey
Objective
Understand how you are performing compared to others.
Goal
Visual comparison with competitors.
Instructions
• • • • •
Take your value propositions.
Grab a flip-over sheet.
Create a strategy canvas.
Research competitors.
Start analyzing.
•
Each team member researches value propositions (products/services, pain relievers, and gain creators) from competitors that he/she thinks are important. (Remember the exercise with trend-driven design. You have encountered possible competitors there. Consider competitors beyond traditional industry boundaries. Don’t just compare value propositions based on products and services that are similar to yours.)
Each tem member pitches the outcome of his research.
The team members vote individually for the competitors and value propositions he/ she thinks are best suited for a blue ocean analysis. The highest scores win.
Research value propositions of competitors
60 min
• • Select a value proposition
10 min
•
Select your value proposition you want to compare.
Select factors of competition
30 min
• •
Draw a horizontal axis (x-axis).
Pick the pain relievers and gain creators you want to compare with the competition.
Place them on the axis. These are the factors of competition of your strategy canvas. (You can also add pains and gains if you feel like they better describe important factors of competition.
First every individual team member does this exercise.
Than the team compares the different outcomes and chooses the pain relievers and gains creators to work with.
•
• • Score your value proposition
30 min
• • • • •
Draw a vertical axis (y-axis) to represent the performance of a value proposition.
Add a scale from low to high or from 1-10.
Plot how your value proposition performs on each factor of competition of the xaxis.
First every individual team member plots how the value proposition performs.
Than the team compares the different outcomes and chooses the performance to work with.
Add competing value propositions
10 min
• •
Add competing value propositions to the strategy canvas.
Add pain relievers and gain creators from their value propositions to the factors of competition on the x-axis if necessary.
Score competing value propositions
30 min
• •
Plot how the competing value proposition performs on each factor of the x-axis.
First every individual team member plots how the competing value proposition performs.
Than the team compares the different outcomes and chooses the performance to work with.
• Analyze your sweet spot
60 min
Get out of the building
•
The team analyzes the curves and uncovers opportunities. Ask yourself if and how you are differentiating from competitors with your value proposition. (Make sure the factors of competition that you compare align with the top jobs, pains, and gains in your customer profile.)
Complement this exercise with getting insights from the field and experiments that produce evidence for your ranking.
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