DEVELOP
ENTREPRENEURIA
L LEADERS.
WITH
IGNITEX.
Module 4: Opportunity
and Competition Mapping
Lesson 1: Identify Global Competitors
Recap Quiz
Question 1 - What is the primary objective of the SCAMPER
technique?
To analyse To generate To improve team To streamline
financial creative ideas communication manufacturin
performance by modifying g processes
existing
products or
processes
For 4.1 Recap Quiz
Question 2 - How does "Brainwriting" differ from traditional
brainstorming?
focuses
Participants Ideas are It involves external solely on
shout out generated stakeholders visual
ideas silently in representatio
spontaneousl writing before ns
y being shared
and discussed
Recap Quiz
Question 3 - The SCAMPER technique includes steps like Substitute,
Combine, Adapt, Modify, Put to other uses, Eliminate, and Reverse.
• TRUE
• FALSE
Reflections
It is a creative process where groups freely generate many
Brainstorming ideas without judgment. It encourages innovative thinking
by considering all suggestions, no matter how
unconventional.
Utilizing well-defined criteria to evaluate ideas ensures
Idea Evaluation that the decision-making process is objective, transparent,
and fair.
Backward mapping to customer problems, Jobs To Be Done
Solution & (JTBD), and expectations ensures that our solution aligns
closely with customer needs and preferences, eliminating
Personal Bias personal biases from the decision-making process.
IGNITEX JOURNEY: Building Entrepreneurial
Leaders
01 02 03 04 05 06 07 08 09 10 11 12
Customer &Needs Opportunity & Market Marketing & Team & Talent Venture Idea
Identification Competition Opportunity Sales Strategy Requirement Viability
• Identify customer Mapping Assessment • Understand • Building a Presentation
segments • Identify & map Marketing & Founding team • Practice pitch
• Outline 'jobs-to-be- Global • Map your Sales (A Team) • Final Pitches
done’ competitors • Understand & • Founding team
Relative Position
• Develop Customer • Review Industry Define Go-To- members (Co-
in the Market
Personas Trends and Size • Estimate Market (GTM) Founders &
• Understand Customer the Market approach Mentors)
Opportunity Size
Validation • Understand • Defining your
• Validate Customer- Sales Process Team
Problem fit Requirements
• Refine Customer
Personas & Problem
Problem Solution Idea Prototype Dev. & Business Financial Mgmt. Orientation for
Identification Generation MVP Modelling for Profitability Scale
• Orientation • Generate solution • Understand • Examine • Understand Startup • First pitch (typical
• Develop Macro ideas Prototypes & MVP Revenue Model Costs audience and
Industry-Problem • Map solution • Build a Prototype • Review & • Understand requirements)
view functionality with • Use Prototype for Profitability • Getting Story
• Discover ‘Real Organize the Lean • Getting Started with
problem/JTBD early Validation Telling Right
World’ Problems • Show "how it will Canvas Financial Planning • Thinking Beyond the
• Analyze Problems work • Build the LC for • Understand & Prototype - Scale
your Startup Explore Opportunity &
We are here! Bootstrapping
options
Aspiration
LEARNING OBJECTIVES
0
Understand
Global 1
Competitions
By the end of this lesson, you will: Appreciate the
importance of identifying
global competitors
Differentiate 0 Identify 0
between Direct and
Indirect
2 venture’s 3
Competition competitors
Review how businesses Explore competition and
differentiate between direct Identify your own
and indirect competition competitors
CORE CONCEPTS IN THIS MODULE
COMPETITION
IDENTIFICATION
How can you identify
the competition for
your venture?
COMPETITION
Understand who is
competition and DIRECT AND
why is it important INDIRECT
to track them COMPETITION
Various types of
competition and their
impact on your
venture
CONCEPT
INTRODUCTION
COMPETITION
Who is their biggest
Competition?
Why do they study their own competition?
WHY SHOULD WE
TRACK
COMPETITION?
BENEFITS OF IDENTIFYING
COMPETITORS
Gain Market Insights
01
Understand the competitive landscape and
identify potential opportunities and threats
Refine Your Strategy
02
Benchmark your product/service’s quality,
marketing and pricing in the market
Develop a Strong Brand
03
Understand competitor branding and
messaging to position your brand effectively
Bursting a Myth!
“Our startup has no competitors.”
A customer always has choices, including
not buying at all, so “not buying” is a sure-
shot competitor!
Identify Your
Competition
Businesses that:
• Offer similar products or
services
• Target the same customer
base
• Have similar marketing
strategies
Examples:
• Smartphones from different
WHO ARE manufacturers
• Fast-food chains selling similar
DIRECT types of cuisines
COMPETITORS?
Who are Indirect
Competitors?
Businesses that:
• Offer different products/services but
serve similar needs/problems
• Target different aspects or alternatives
• Have diverse marketing strategies
Examples:
• Smartphones competing indirectly with
laptops or tablets
• Streaming services competing indirectly with
movie theatres
Individual Activity
Direct & Indirect Competitors
Students Scan to Play
Click on the play button to view/play the activity
Venture Activity
Direct Competitors
Identify direct global (India & abroad)
competitors form your startups
Indirect Competitors
Identify indirect global (India & abroad)
competitors form your startups
Venture
Venture Activity 4.1
Activity Fill in the details of the identified
competitors in the Venture Activity
Q&A
If you have questions, ASK
Overall Learning Objectives met Today
Competition Every business has competition- Indirect and Indirect
Who is solving If no one is solving the problem, perhaps it is not worth
solving, or it can be a game-changer!
the problem?
Many competitors If enough solutions already exist, decide if you want to look
for ways to stand out in the crowd or solve another
problem
Benefits of Understand the competitive landscape and identify potential
Competition opportunities and threats
tracking
! MANDATORY PREP for NEXT SESSION
COURSEWORK
POST SESSION
1. Exercise
INDIVIDUAL – Revise the Concept and Get ready for the next session
continue to add to the list of your ‘Review Industry Trends and Estimate
competitors Market Size (TAM)’ – by going through
the Introduction
2. Venture journey activity
4.1 – Identify direct and indirect
TEAM
competition (Local and Global)
THANK
If you have questions, ASK
YOU
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