What is competition product analysis? Delineate target competitors and competing products, collect and analyze core index data, summarize the differences between this product and competing products, and form guidance to feedback to product, operation and other departments.
There is no doubt about the importance of competitive product analysis, but whenever you are engaged in business-related matters, competitive product analysis is the core important, First of all, competitive product analysis is not a job that ends after writing a document or slideshow at a certain point in time. At any stage of the product, from idea generation to online promotion, to mature operation, competitive product analysis has always been throughout. It is a very important work content in the entire product operation process. You may not see the competitive product analysis documents that are continuously produced, but you must always maintain the thinking of competitive product analysis to ensure that you have clear goals in the product iteration process. and directions.
Five steps of competitive product analysis
Determine your goals
Analysis direction: decision support, learning and reference, market early warning
For which product do you do competitive analysis? What stage is the product currently in? What are the main problems and challenges faced by the current product? What is the purpose and goal of doing competitive product analysis? What is the output of the competitive analysis?
Select competing products
Directly competing products—the target customer group is the same, and the pain points to be solved are the same. Will cause you to lose customers, is a direct competitor
Indirect competing products - different product forms, similar target user groups, belonging to the same category
Substitutes——products that solve the same pain points but are not in the same category
Reference products—may not be competitive, but worth learning from.
Analyzing Dimensions
a. Product perspective (9)
Function, user experience, team background, technology, marketing, strategic positioning, user situation, profit model, layout planning
b. User perspective (9)
Price, availability, packaging, performance, ease of use, insurance, lifecycle, cost, social acceptance
Collect data
a. Product data
Product name, product title, advertising words, product parameters, product details, store and brand information.
b. Price promotion data
Price, coupons, platform coupons, store coupons, promotional information, gifts, sales, inventory, listing price, hand price, unit price, installments information.
c. Product evaluation data
Evaluation nickname, evaluation content, posting pictures, video evaluation, order time, evaluation time, follow-up time, evaluation level, etc.
Organization analysis
Comparative method: that is, to make a horizontal comparison with competing products, to help in-depth understanding of competing products, and to find out the advantages and disadvantages through analysis.
Matrix analysis method: Analyze the positioning, characteristics or advantages of your own products and competing products in a two-dimensional matrix.
Competitive product tracking method: track and record the historical versions of competing products, and find out the development rules of each version of competing products
Functional disassembly: Break down competing products into first-level functions, second-level functions, third-level functions, and even fourth-level functions, in order to gain a more comprehensive understanding of competing products. The composition of the product.
Explore needs: dig out the deep-seated needs satisfied by the functions of competing products. It is recommended to use the 5why analysis method to mine deep-level requirements.
PEST analysis: P is politics (Politics), E is economy (Economy), S is society (Society), T is technology (Technology)
Porter's five forces model: competition among existing competitors in the same industry, threat of potential entrants, threat of substitutes, suppliers bargaining power and the bargaining power of buyers.
SWOT analysis: analyze the advantages and disadvantages of internal conditions and changes in the external environment and possible impact on the product.
Through these 5 steps, have you gotten a little bit of e-commerce competitive product analysis direction?
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