Although you are probably aware of any obvious competition before you start formal research, respondents will often tell you about obscure products that you never knew existed, products under development, and programs you may never have considered as direct competition. Don't write these off because they offer fewer features. Interviewees may be quite content with a simpler program. They may prefer a program that sells at a fraction of your anticipated price or one that works in a way they have grown used to. Investigate them all. Any one of them could turn out to be your worst enemy.
If you come across direct competition, especially from large or established branded opponents, think very seriously about aborting. Unless you have a hidden agenda, are privately funded with large pockets, are privy to inside information, or know that their program has some monumental flaw, my advice is to down tools, take stock, reflect, and do nothing. The sky is full of other products yet to be invented.
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