Practice Building a Feature Table
- Identify Key Features: Determine essential features for comparison, such as task management, collaboration, etc.
- Create the Table: Make a table with competitors as columns and features as rows.
- Fill in the Table: Use checkmarks to indicate if a feature is present in each competitor’s product.
- Add Notes: Include additional information like feature variations or limitations.
- Analyze and Interpret: Review the table to identify strengths, weaknesses, and opportunities.
- Update Regularly: Keep the table current with new information and competitor updates for ongoing analysis.
Competitive and Market Analysis of Product Management
Product managers must incorporate market research and competition analysis since they offer crucial insights into consumer demands, market dynamics, and the competitive environment. Product managers must comprehend the scale of the market, identify rivals, and evaluate their offerings to design and improve profitable products. To assist product managers in making wise choices and maintaining an advantage in the dynamic market, this guide examines the processes of market research, competitor analysis, and feature table construction.
Table of Content
- Market Research – Sizing the Market:
- Introduction to Finding Competitors:
- How Product Managers should research competitors?
- Direct, Indirect & Potential Competitors and Their Impact:
- Five Criteria for Understanding Competitors:
- Competitive and Market Analysis of Product Management:
- What is a Product Feature Table?
- How a feature table look and what you should write in it?
- Practice Building a Feature Table:
- How to Analyze Specific Feature?
- How to Monitor Competitors?
- What Do We Ultimately Care About as a Product managers?
- Conclusion:
- FAQs on Competitive and Market Analysis of Product Management: