Insight from Patticus
Traditionally you are told that there are 4 types of competitors – direct, indirect, potential, and substitutes. This framework doesn't work because this shows your view of the market, not your customers.
Try this instead:
This matrix maps your competitors on the only axes that truly matter – Market Mindshare (eg. how aware are customers of the competitor) and Resource Strength (eg. how much money is the competitor dedicating to the market).