1. Clarify the purpose of competitive product analysis
Before doing competitive product analysis, it is necessary to clarify the purpose of the analysis. Different analysis methods are used for different purposes. After understanding the stage of the product and the goal of the competitive product analysis, the competitive product analysis can be started.
If we want to increase sales, we need to focus on the analysis of advertising methods, strategies, etc., and improve product marketing methods based on the characteristics of our own product target users to improve marketing efficiency.
2. Determine the scope of competing products and the accuracy of information
Before competing product analysis, it is necessary to clarify the market area where your product or service is located and the scope of your competitors. Make sure that the selected competing products are in direct or indirect competition with your own products.
The accuracy of collected information is crucial for competitive product analysis. Make sure to get the data from reliable sources, such as official websites, industry reports, market research, etc. Pay attention to collecting information from multiple channels to improve the accuracy and comprehensiveness of the data.
3. Need to be based on the user direction of the product
Competitive product analysis needs to pay attention to the product direction. The product direction is to make it easier for users to identify and find the product, which is conducive to the distribution efficiency of the product, improves the use efficiency of the product, and then achieves the product goal. Therefore, when analyzing competing products, we need to pay attention to the needs of target users, meet the real needs of users, and provide users with targeted products that meet their needs.
In order to further improve the efficiency and quality of demand analysis, we can use development tools to quickly improve the efficiency of demand analysis. For example, the CoCode development cloud uses GPT technology to automatically generate standard user stories from user requirements through requirement entry and automatic decomposition of sub-requirements; the requirements analysis tool uses AI to pass requirements testing and consistency testing, and can quickly analyze within a few minutes Defects in user requirements, such as ambiguity, duplication, omission, inconsistency, and complexity, etc., precisely pinpoint requirements problems, thereby modifying requirements defects more efficiently and improving the quality of user requirements analysis.
4. Focus on key indicators and own advantages
When collecting and analyzing competitive product information, pay special attention to key indicators. Including product features, advantages, pricing, market share, user feedback, etc. Through the comparison of key indicators, the competitive strengths and weaknesses of competitors can be better understood.
The purpose of competitive product analysis is to understand competitors and find their own differentiated competitive advantages. When comparing competing products, focus on the differences with your own products, find your own unique selling points and advantages, and formulate differentiated market strategies.
5. Pay attention to market trends and changes
The market is constantly changing, and demand and competition will change accordingly. When analyzing competing products, pay attention to market trends and the dynamics of competitors, and adjust your strategy in time to adapt to market changes.
6. Prevent wrong conclusions
When conducting competitive product analysis, it is necessary to avoid role substitution in the analysis. Analysis is required to ensure the accuracy and objectivity of the analysis. The subjectivity and erroneousness of conclusions are the most taboo in competitive product analysis, because this will have a very serious impact on the product. Therefore, the conclusion of competing product analysis is very important, and it may even affect the direction of the product, so it needs to be paid attention to.
