How to write a valuable competitive product analysis report?
|
Before writing a competitive product analysis report, you should first clarify the purpose of writing this report, and then focus on the analysis based on the purpose, emphasizing some things and downplaying others. You can see a lot of submissions about competitive product analysis on the Internet, which are similar to the competitive product analysis I wrote before. Most of them analyze according to the five levels of strategy, scope, architecture, interaction, and visual layers in "Elements of User Experience". Most people's analysis stops here, and a few will also analyze the business model or make some suggestions for product improvement. If we talk about most people's competitive product analysis reports, they are useless because the analysis is just superficial and there is not even any summary. So in the end, this competitive product analysis is just for the sake of reporting and has no practical value. Some people’s competitive product analysis reports even list products that cannot be considered competitors at all. What is the value of such competitive product analysis? Before writing a competitive product analysis report, you should first clarify the purpose of writing this report, and then focus on the analysis based on the purpose, emphasizing some things and downplaying others. For example, if I want to analyze the competitive landscape of a certain type of app and want to launch a new feature for a product, I will refer to the features of competing products before launching it. This is also competitive analysis. Can the competitive analysis reports produced in these two cases be the same? The following is a brief description of the framework of my thinking when writing competitive product reports: one. Determine the purpose of the analysis When analyzing, ask the purpose first. When analyzing, ask the purpose first. When analyzing, ask the purpose first. I was shocked when I learned that the saying “important things should be said three times” actually came from Nietzsche. First of all, before you start writing a competitive product analysis report, determine the purpose of the analysis, and then determine what you need to analyze based on your purpose. Your purpose determines that you may not need to analyze so comprehensively, because when you analyze everything, it will be difficult for you to emphasize what you want to express. It is difficult to make something big and comprehensive at the same time narrow and deep. two. Competitive product selection This is a part that is missing in many people's competitive product analysis reports, but it is a very important part. If the product you choose is not your competitor at all, will the two products be comparable? Obviously not. There are many definitions of competitors, such as direct competitors, indirect competitors, potential competitors, etc., all of which are competitors. So why did you choose these two products as competitors instead of several other products? Therefore, before selecting competitors, you should set a standard for selecting competitors, find the position of your own products, and then sort out the existing products on the market based on the standards of competitors to determine the corresponding competitors. I usually use a 2X2 matrix to divide, set up the division criteria, and then use two different dimensions, the horizontal axis and the vertical axis, to divide. The following figure is a figure I made when I was doing a catering O2O competitive product analysis: three. Competitive product analysis 1. Market position can be analyzed from multiple angles such as market share, download volume, number of users, etc. to understand where the product occupies in the current industry, what the benchmark products are in the current industry, where the product occupies, and where the gap between the product and the benchmark products lies. In addition, you can also analyze from the user's mental model to see how the user views your product. Your product is not necessarily the product you see. The user will treat your product in the same way as they view it. To obtain this data, I basically go to iResearch, Analysys, Penguin Think Tank, and CNNIC to get relevant information. Other commonly used tools include Baidu Index, Umeng Data , and App Annie . 2. Product background Products all have genes, and products from different companies are definitely different. The company's background, product team, and resources will all restrict product development. With the same idea and homogeneous products, some products succeed while others fail. It is even possible that the products of the failed ones are better than those of the successful ones. In addition to the product itself, product endorsement is also very important. Even for some products, the product itself does not have any highlights, but the resources behind the product are incomparable to other products, and these resources are the key to its success. 3. Business model When people talk about business model, they usually talk about how to make money. In fact, this is only the profit model. The scope of business model is much broader. Business model includes profit model, business model, channel model, user model, etc. Making money is only part of the business model. Even Google, which adheres to the principle of "don't be evil", took Google Reader offline for commercial value considerations. WeChat and Zhihu were ultimately unable to avoid the hurdle of commercialization. I have always felt that business value and user experience are not completely contradictory. Companies should try their best to find a suitable balance between business value and user experience. The profit models commonly mentioned can be divided into To C and To B. For C-end users, common profit models include membership fees, value-added services, virtual props, peripheral products, etc. For B-end users, common profit models include advertising fees, open APIs, and data. If you want to conduct a detailed analysis of the business model, you can refer to the business model canvas below: 4. Strategic Positioning For product strategies, companies generally will not reveal their intentions. Generally, products are designed for profit, market share, first-mover advantage, strategic positioning, and brand awareness, all of which are basically based on commercial value considerations. Product positioning can generally be summarized in one sentence, which is usually the functions of the first version of the product, and then some subsequent functions are gradually added after a certain user base is established. The analysis of product positioning can be considered from the following aspects: The above is just a thinking framework. It does not mean that every aspect needs to be analyzed. In most cases, the positioning of the product can be summarized in one sentence. 5. Functional features Sometimes I see some product people analyze and list all the product features in great detail when conducting product analysis in their submissions. I wonder if it is really necessary to list all these features. If we use the Kano model to classify the functions of a product, they can be divided into basic functions, expected functions, exciting functions, indifferent functions, and reverse functions. As shown in the following figure: a) The analysis of basic functions and non-differentiated functions can be briefly mentioned because basic functions are necessary functions without any differentiation, while non-differentiated functions have no impact on the product, so these two types of functions can be briefly analyzed. b) Focused analysis should be conducted on expected functions and exciting functions. These two types of functions are exactly what can differentiate product levels. We can analyze and compare which functions our products do not have in competitors, and which functions of competitors are worthy of our learning and reference. However, when learning and referencing, we must pay attention to the reasons behind these differences. We should refer to product positioning, company background and other aspects for analysis, rather than simply imitating . c) Reverse functions should be avoided as much as possible, because these functions will reduce the points of the product and may cause users to abandon the product, and the user conversion cost is getting lower and lower. Reverse functions may be added because certain functions of the product violate the original product positioning, or they may be added due to business needs. 6. Architecture interaction a) The priorities between different product function modules are different, and the user usage frequency is also different, so different products use different architectures. It is necessary to analyze the architecture adopted by competitors. Do competitors use the same architecture or have different architectures? What is the architecture of your own product? What are the advantages and disadvantages of doing so? Is there any need for improvement? b) Analyze the interaction design used by competitors. In addition to the general design principles in interaction design, do competitors have any innovations in interaction? Are there any interaction designs that we can learn from? Ps: For general product people, forget about the analysis of visual design, colors and fonts. Designers who switch to product design are no longer included. Vision is more subjective and there are no strict standards. However, the product should also be guaranteed to be in line with the temperament of similar products. 7. Operational strategies: Different types of products adopt different operational strategies. You can analyze some of the operational strategies adopted by competitors to see what operational strategies competitors have, what effects different channel strategies have achieved, which operational activities of competitors are very successful, and which operational activities are not very effective. Which good operational activities of competitors are worth learning from and which pitfalls can be avoided? At the same time, analyze the stage and characteristics of your own product and analyze and think about the next operational strategy. 8. Development Trends: Sort out the development history of competing products, identify key time nodes and milestones, and based on the development history of benchmark products, reflect on the shortcomings of your own products at this stage and how to achieve differentiation and create value for users. Have some thoughts on the future development trend of the product, what are the possible profit models in the future, what needs have not been well met and can be used as entry points for the product, what new functions can be considered to be added, etc. Four. Summarize The report must have output, must have output, must have output. What problem is your competitive product analysis report analyzing? Whether you want to verify your speculation or get some conclusions, there must be a summary at the end. You cannot just list a bunch of things without any summary. What conclusions do you get from competitor analysis? What can existing products learn from and refer to? What products need to be improved? These conclusions are valuable outputs for the products. In addition, product managers must draw conclusions based on reason and have arguments to support their views, avoiding too many subjective factors. ASO optimization service click link: ASO optimization service introduction IOS accelerated review click link: //www.opp2.com/8854.html APP Top Promotion (www.opp2.com) is the top mobile APP promotion platform in China. Welcome to follow our official WeChat public account: appganhuo [Scan the top APP promotion WeChat QR code to get more dry goods and explosive materials] |
>>: How to plan a live e-commerce event?
Recommend
A complete analysis of Luckin Coffee’s social media strategy to increase its daily sales by 35,000 cups
After Luckin Coffee was suspended and delisted, i...
Why don’t you know how to promote your products?
Founders often underestimate the importance of hir...
Is mortgage loan a farmer loan? What are the requirements for application?
Nowadays, when people are short of money, the fir...
Meng Ge Resume: How can a novice with no basic knowledge learn SEO optimization?
We all know that SEO is the basis of online marke...
3 counter-common sense points in channel cooperation
Recently, I met with several newly appointed pres...
How to set the golden three seconds of short videos? How to make use of the golden three seconds?
My videos never become popular, it’s really confu...
Golden rules for creating hit products for new consumer brands
For a long time, many people have had certain mis...
One article to understand the construction of community operation system
This article uses the 5w1h analysis method to int...
How to place Douyin advertisements and promote Dou+ on Douyin for best results?
Douyin advertising, Douyin promotion Dou+ is Douy...
How to develop a financial accounting mini program and a financial diary mini program?
With the economic downturn, many people have begu...
H5 Marketing from a Novice to an Expert: 5 Steps to Teach You How to Create an H5 Plan with Millions of Users!
Mentor: Qiao Xinhua, Senior Product Manager at Pe...
Do you want to know more about the "TikTok recommendation algorithm" that is said to be magical?
600,000 followers gained in 5 days. Understanding...
Sharing practical tips on Douyin promotion and operation!
During this period, Tik Tok has become popular an...
How did you come up with the title? 7 steps, from conception to hit product!
How did you come up with the title ? Do you recei...
What benefits will veterans receive in 2022? Is there a pension?
In July 2020, the Ministry of Veterans Affairs an...