How to do a competitive product analysis? Hubei won the championship education to analyze
Selecting competing products often requires categorization. I understand that competing products should be divided into three categories: direct competing products, potential competing products and transferred competing products. Hubei Winning Education will introduce you one by one.
Directly competing products: This type of competing product is the easiest to understand and analyze and has the same target users and similar content as our product, which constitutes direct competition.
Potential competitive products: Similar to our product target users, there are no functional modules of our products yet, but the products of these modules can be added through later upgrades. The simplest example is Momo and the people around WeChat,
Transfer of competitive products: The target groups have certain commonality, and the product goals are different, but in a specific scenario, they form competitive products that users use time. For example, we have many options when taking the subway, such as playing games, reading novels and watching movies. During this time, many products will become diverted competitors of our products.
- Direct competitors
The key is to analyze the core competitiveness of the product through the product process and user experience, which is the focus of competitive product analysis. Competitive Product Analysis is a small but beautiful analysis report. Don’t write dry list comparison feature reports.
- Potential competitors
Determine the trend of the analysis, rather than the identified function point, because different applications may not find the same function point at all, and analyze a series of products that can add functional modules and evolve into direct competition products.
- Product analysis
The so-called product analysis is a product-oriented analysis process. Our highest priority is to identify a product, and then analyze all product modules, features, user experience, etc. around that product. The biggest difference between product analysis and competitive product analysis is that one is feature-oriented and the other is product-oriented. Product analysis is an in-depth analysis of products.
As far as personal work is concerned, in fact, I have memorized competing products in perception. If a product manager can’t just name five competing products, either there are too many product innovations, or the work needs to continue to work hard.
(1) For example, the team is hesitant to modify the functions in our products, so we want to use competitive product analysis to modify the functions, so from this purpose, we only need to find the competing products of the relevant functions, and then mainly compare the research and analysis functions.
(2) For example, at the strategic level, the team has some questions about the business model of the product, so they want to expand some business models through competitive product analysis, so from this purpose, we should find relevant competitive products from a macro perspective, and look at them business model, understand their profit points, and then conduct a comparative analysis with them.
(3) For example, the interaction design and visual UI design of our own products are not satisfactory enough, and the leaders also hope to have an improvement to make it easier to use and more beautiful. So starting from this purpose, we need to find those competing products that do a good job in interaction and visual design for comparative analysis, and then mainly conduct comparative analysis from the perspective of interaction and visual design. Bring its essence to the dross.
Well, the sharing of Hubei’s winning education ends here today. Welcome everyone to leave a message and let’s discuss and improve together!