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29 points
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8 Competition
Analysing the competition your product will face is essential. A thorough analysis would cover:
- all the relevant literature (possibly over a hundred papers)
- any applicable patents (sometimes up to a hundred)
- competing products themselves (sometimes at least fifty).
Consider not only products competing directly with yours but also similar or related ones, and not only existing products but also any others likely to be on the market when yours is released. Use parametric methods for these comparisons.
This analysis can be laborious, but remember: for that very reason, not everybody does it. By analysing the competition, you could well give your product the edge.
Example