A Step-by-Step Guide to Competitive Product Analysis

Understanding your position in the marketplace is essential for any business looking to succeed in today’s dynamic landscape. Conducting a competitive product analysis helps organizations evaluate their industry standing, pinpoint areas of improvement, and capitalize on opportunities. For product managers, this approach is key to assessing how their product stacks up against competitors and refining sales and positioning strategies. This article outlines the essential steps to perform a competitive product analysis and stay ahead in your industry.