The method
To perform competitive analysis, start by identifying 3-5 key competitors in your target market. Then, input the prompts into ChatGPT/Gemini/Claude, providing detailed information about each competitor. Refine the prompts based on the LLM’s output.
The prompts
Prompt 1
Analyze [Competitor A]’s strengths and weaknesses in the [specific market segment]. Focus on their product offerings, pricing strategy, distribution channels, and marketing efforts. Provide a SWOT analysis table, highlighting opportunities for differentiation and potential threats to our entry.
Prompt 2
Compare and contrast the online customer reviews of [Competitor A], [Competitor B], and [Competitor C] regarding [specific product category]. Identify recurring themes, sentiment scores, and areas where competitors excel or fall short. Use this information to suggest improvements for our product or service offering to gain a competitive edge.
Prompt 3
Based on [Competitor D]'s recent marketing campaigns and product launches, predict their strategic direction over the next 6-12 months. Consider factors such as market trends, technological advancements, and consumer behavior. How can we proactively adapt our market entry strategy to mitigate potential competitive challenges and capitalize on emerging opportunities?