Talking about the method of product competition analysis

In the enterprise competing products analysis work Most product managers in the actual work rarely done, either by the market and operations staff, or the product department with market research related positions regularly to do. Recently, some departmental colleagues conducted a monthly competitive bidding analysis of existing products and participated in part of the work. It is also a new experience and learning experience for product managers who are neither professionals nor generalists.Competitive product analysis can only serve as a reference (because the information mining channels and concerns are relatively subjective, the more dangerous Some product managers deliberately look toward the subconscious mind to collect data), usually serving the leadership and product management to consciously focus on product information to timely adjust the relevant goals;

Why do competitive analysis?

1. For enterprises to develop industry product strategic planning, product layout of various sub-product lines, market share to provide a relatively objective basis for reference;
2. Keep abreast of competitors' products and market trends, if mining data channels reliable and stable, according to the relevant data and information can be judged out of each other's strategic intentions and the latest direction of adjustment;
3. Can grasp the capital background of competitors, market segments of the needs of users to meet the needs and market vacancies; including product operation strategy;
4. Self-rapid adjustment, in order to maintain the stability of their products in the market or rapidly increase market share;
5. The new project, racking our brains came out (very dangerous, refers to the newly exposed industry did not accumulate and precipitation) did not form a more effective and complete systematic thinking and objective and accurate direction;

Competitive analysis of how to do?
It is worth mentioning that competing product analysis report in a mature business is basically a long period of continuous accumulation of continuous mining and analysis of a process so as to improve the accuracy of the data has a strong persuasion;

1. Determine what is your competitor?

A. Product direct competitors: This includes the direction of the market in the same direction, highly targeted customer base, product features and user needs a high degree of similarity, the words of A bubble: "And you're a real competitor"
B. Indirect Competitors: Inconsistent market customer groups, but complement your product strengths (or complement your own product) in terms of functional requirements, but not primarily for the value of the product;
C. Different models of the same industry: For example, B / S Internet and industry solutions and stand-alone C / S clients, one-shot trading and long-term service charging;
D. Strong concept of capital speculation: observed that the major media platforms are often speculation in the concept and the industry forward-looking team of some talent background, qualifications, the size of a very potential business;

2. Where to get competitor information

A. Gather information from internal markets, operations, management, etc.
B. Industry media platform news and forums and QQ group, search engine;
C. Establish a continuous product market information gathering team;
D. investigate the core users, active users, ordinary users make up for the different needs and indirectly replace the product;
E. competitor's official website, interactive platform, news, product history updated version, promotional activities;
F. Quarterly / Annual Results;
G. major talent sites with the same industry personnel resume updates; each other's blog and contact information; including adversary official website recruitment information;
H. Through Google search engine to find the official website with the foreign trade industry and industry information subscription (market direct competitors is not likely, but the profit model and function defined user groups have a certain forward-looking and market-oriented trend);
I. try each other's products, customer service consulting, technical questions and so on;

3. What information needs to be obtained?

A. Company technology, market, product, operation team size and core objectives and industry brand influence;
B. The actual quarterly earnings figures and key investment information of each product line; The product line which occupies the main profit of the company;
C user group coverage, market share, operating profit model; as much as possible to understand the fixed cycle of total registered users / installed capacity / effective conversion rate;
D. product functional breakdown and contrast; stability, ease of use, user experience interaction, visual design strength, technical advantages and disadvantages of the framework;
E. product platform and the official rankings and the number of keywords and the chain;

4. Common analysis methods?
A. SWOT Analysis: Actually, it is a method (more macroscopic and subjective) that will synthesize and summarize various aspects of the internal and external conditions of an enterprise, and then analyze the strengths and weaknesses of the organization and the opportunities and threats it faces. It can also be used as a competitive product A method of analysis

Product advantages and disadvantages of an objective understanding;
Product status and prospects;
Must be considered comprehensively
Must be compared with competitors, such as better than or inferior to your competitors;
Simplicity, avoid complication and over-analysis

B. Customer Satisfaction Model (Kano Model);
KANO model defines the three levels of customer demand: basic demand, expected demand and excitement needs. The three needs are classified according to performance indicators is the basic factors, performance factors and incentives;
Basic Requirements: Attributes or functions that users consider "must-have" for the product. When its characteristics are not sufficient (does not meet the needs of users), the user is not satisfied; when its characteristics are sufficient (to meet user needs), it does not matter dissatisfied with dissatisfaction, the user is satisfied at best;
Expected demand: The product or service that is sought to provide is superior, but not a "must," product attribute or service behavior. Some expectation needs are not well understood by users, but they are what they expect; in market research, users The discussion is usually the expected demand, the more expected demand in the product to achieve, the more satisfied the user; when not satisfied with these needs, the user is not satisfied;
Exciting type of demand: the user is asked to provide some completely unexpected product attributes or service behavior, so that users have a surprise. Users are indifferent when their features are not sufficient and are of no interest, and users are greatly satisfied with the product as it provides the services in such requirements, thereby increasing user loyalty.

C. Boston matrix problem-based products: in this area is a number of speculative products, with a greater risk. These products may have high profit margins, but have a small market share. This is often a company's new business;

Star products: Products in this area are in a rapidly growing market and dominate market share, but may or may not generate positive cash flow; also can be understood as a surge in users and installed capacity;
Cash Bull Products: Products in this area generate significant cash but future growth prospects are limited. This is the leader in a mature market, which is the source of corporate cash;
Shoulder-Dog Business: Products in this remaining area are neither cash-generating nor cash-intensive and have no hope of improving their performance. Under normal circumstances, such businesses are often low-profit or even loss;

D. Information contrast

Basic product information: product name, product type, language version, website, microblogging;
Company background: company capital, product technology, market, operation team situation;
User positioning: different forms and industry users, but have appeals to the product;
User Needs: Functionality, Visual Design, Interactive Experience, User Satisfaction Expectations;
Product Details: product positioning, cross-industry goals, product model;
Product Features: the size of functional modules comparison;

Profit model:

Operation Strategy and Data Ranking: Cyclical Activities, Operational Rules, and Industry Ranking Foreign Key Words Related Data;

Today, talk about so much, the above is only a personal summary of some of the methods involved in the competitive analysis process, which also refers to some of the same industry point of view, but also a learning process, please draw lessons from!

Source: http://www.ximisoft.com/?p=551