Like many have mentioned before me, I would at first be a little discouraged but then I would analyse their products to see how I can make mine a better product. I would keep in mind why I wanted to do it in the first place and market it for that audience. Try and fill the gap in the market. There are thousands of alarm clock apps out there yet somehow people keep making more and more of them and are still making money. True it won't be as easy now that you've realised there is someone else doing it however it's never lost cause! Likely, once you've published yours knock-offs and copycats would jump on the idea straight away anyway so you have to have a unique selling point always :) Keep it up!
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