Boosted Boards Competitive Analysis (Part 1 of 5)

Competitors

Competitors

What kind of competitors are there?

Generally there are 4 categories of competitors: Direct, Indirect, Potential and Substitute (DIPS).

Direct competitors solve the same problem in the same way as your company does. Boosted Boards make electric skateboards so any company that makes a similar product would be a direct competitor. Examples would be Evolve, Halo, Inboard, Acton and Onewheel. Onewheel is an interesting competitor because their design is unique with one large wheel in the center. It definitely stands out against all the other electric skateboard makers.

Indirect competitors solve the same problem but in a different way. In this case, electric skateboards have limited range and are best suited for personal urban commuter travel. Electric scooters have similar ranges for single rider travel, and electric bikes also fall into this category although they tend to have longer ranges. I would only consider a subset of electric bikes $1500 and under to be in direct competition with electric skateboards. And the iconic Segway, the mobile 2-wheeled podium that was supposed to change the world, is still alive and kicking.

Potential competitors don’t solve the same problem but sell to a similar market. Hoverboards might be a stretch, because they tend to market to a younger audience but I think there is some overlap there.

Substitute competitors solve the same problem but with a completely different angle. In this case, the core market is the urban commuter with a 10-30 mile range. Ride share and taxi services can absolutely solve this problem and also have the benefit of more space if you have additional passengers or luggage. I would also consider public transportation, busses and subways under this category for the same reason.

Boosted Boards Types of Competitors
Boosted Boards Types of Competitors

You can really get lost in the weeds when researching these four categories trying to get every nugget of data out there. It can be a real time sink! I suggest either giving yourself a soft time limit for gathering data for each part or only focusing on the top 5-10 competitors at most. I would also focus on Direct competitors first and only include Indirect competitors if you see an obvious impact to your market from them.

Part 2 – Marketing and Ad Spend

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