Competitive Radar Node
The Competitive Radar node is designed to take a set of Products in a Market and determine the degree of Competitive Rivalry between those Products. The competitive landscape can then be plotted in a scatter plot or bubble chart with the Focus Product located at the (0, 0) origin and each of the Competitive Rival Products located within a concentric circle up to a distance of 1.0 from that origin.
The distance from the Focus Product to each of the other Products reflects the degree of Competitive Rivalry. For example, a dangerous Competitor might be plotted at a distance of 0.1 close to the Focus Product at the origin. But a different Competitor with a highly differentiated offering from the Focus Product might be plotted at the outskirts with a distance of 0.9. Note that the specific value of X and Y has no meaning – only the distance from the origin is important.
The mutual distance from each Competitive Rival to each of the other Competitive Rivals (not including the Focus Product) also reflects the degree of rivalry between those Products. But unlike with the Focus Product, this Competitor-to-Competitor distance may not be as accurate. The Competitive Radar’s first and foremost job is to provide an accurate perspective of the Focus Product’s own competitive market.
The Competitive Radar node determines the degree of Competitive Rivalry between Products in a Market. The competitive landscape can then be plotted in a scatter plot or bubble chart with the Focus Product located at the (0, 0) origin and each of the Competitive Rival Products located within a concentric circle up to a distance of 1.0 from that origin.
The set of Products that define the Market. Each row corresponds to a Product that competes for customers in the Market.
The Willingness To Pay (WTP) Customer Distribution matrix for each Product column in the Market by each Virtual Customer row. The total number of Virtual Available Customers is equal to the number of rows in the WTP Matrix.
Lists the (X,Y) coordinates for each Competitive Rival with respect to the Focus Product. The (X,Y) coordinates will all fall within a distance of 1.0 from the Focus Product located at the (0,0) origin. The node calculates each set of Competitive Rivalry (X,Y) coordinates for each of the Products found within the ‘WTP Matrix’ acting, in turn, as the Focus Product.