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    rekha mour
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    The document provides guidance on conducting market and competitor analysis for new products. It advises analyzing whether there is need and demand for the product, if others have tried before, and if the market is saturated or unsaturated. For competitor analysis, it recommends identifying who the competitors are, their client base size, comparing value propositions and key features to one's own product, and whether one can beat competitors' prices while maintaining a profit.

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    The document provides guidance on conducting market and competitor analysis for new products. It advises analyzing whether there is need and demand for the product, if others have tried before, and if the market is saturated or unsaturated. For competitor analysis, it recommends identifying who the competitors are, their client base size, comparing value propositions and key features to one's own product, and whether one can beat competitors' prices while maintaining a profit.

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    6 views4 pages

    Class 7-02 Notes

    Uploaded by

    rekha mour
    The document provides guidance on conducting market and competitor analysis for new products. It advises analyzing whether there is need and demand for the product, if others have tried before, and if the market is saturated or unsaturated. For competitor analysis, it recommends identifying who the competitors are, their client base size, comparing value propositions and key features to one's own product, and whether one can beat competitors' prices while maintaining a profit.

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    of 4

    Class 702

    MARKET/COMPETITOR
    ANALYSIS
    Words to remember

    „You need to know


    where you stand on
    your market”
    Different market spaces for new products

    • Product, that is the first one to solve a problem


    • Is there a need for such product?
    • Did someone tried that before and failed?
    • Product, that is entering an unsaturated martket
    • Is there enough clients to support my business?
    • How do I differ from the competitor?
    • Product, that is entering a saturated market
    • Can I create a disruption that will allow me to survive?
    Get to know your competitors

    • Who are they?


    • Are you able to identify the size of their client base?
    • Can you list the value proposition that makes your product
    superior to your competitors?
    • Can you identify competitor key features? How do they
    compare with your product?
    • Can you beat their price while maintaining a profit? Can
    you affort working without one?

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