Elevating product strategy through advanced competitive intelligence Watch on YouTube https://youtu.be/yf9QcefToDg TLDR In this episode of Product Mastery Now, I interview Jay Nakagawa, Director of Competitive Intelligence at Dell Technologies and a 25-year product management veteran. Our discussion reveals proven methods for understanding competitors and developing effective product strategies. Jay shares practical tools and frameworks product managers can use to gather competitive intelligence ethically and systematically. One compelling insight is that looking at competitors through our own lens often leads to misunderstandings – we need frameworks and methods to see the market from their perspective. Understanding Competitive Intelligence in Product Management The Evolution of Competitive Intelligence Jay has an interesting background that shapes his perspective on competitive intelligence. After spending over 20 years as a product manager, he found himself increasingly drawn to analyzing competition and developing strategies to outperform rivals. When Dell acquired EMC, Jay had the opportunity to transform this skill into a new career direction, leading competitive intelligence efforts. His experience reveals an important shift in how companies approach competitive analysis. While understanding customer needs remains essential, gaining deep competitive insights has become equally valuable for product success. The Problem with Traditional Analysis Many product managers rely on SWOT analysis for competitive insights. However, Jay explains that in his field, they jokingly call SWOT a “Silly Waste of Time” because it reveals little about competition. Instead of providing deep insights into competitor strategies and capabilities, SWOT tends to focus on internal factors and broad market opportunities. Core Functions of Modern Competitive Intelligence Jay learned about competitive intelligence from the Academy of Competitive Intelligence, which teaches product managers not only frameworks but also how to use them practically. Based on Jay’s experience at Dell Technologies, effective competitive intelligence includes: Function Description Business Impact Competition Analysis Understanding competitor products and strategies Improved product differentiation Strategic Evaluation Assessment of corporate and product strategies Better strategic planning Market Motion Analysis Understanding go-to-market approaches Enhanced market positioning Sales Support Enabling sales teams with competitive insights Increased win rates Product Direction Informing product management decisions More effective roadmap planning Essential Frameworks for Competitive Analysis Porter’s Five Forces in Practice Jay shares an example of how to apply Porter’s Five Forces using the large aircraft manufacturing industry: * Threat of New Entry * High capital requirements * Strict government regulations * Example: China’s emerging presence in aircraft manufacturing * Supplier Power * Impact of supply chain disruptions * Limited supplier options * Complex component requirements * Buyer Power * Airlines as major customers * Long-term purchase commitments * High switching costs Understanding Competitor Perspective Jay shares a metaphor about competitor analysis: Picture a kitten looking in a mirror and seeing a lion’s reflection. While we see the kitten, we need to understand that the competitor sees themselves as a lion.