Collecting and comparing the data about products and companies in the marketplace is known as Competitive analysis. To make more conversant decisions for your product strategy competitive analysis is used to emphasize strengths and weaknesses of products. It includes information like,
- A summary of products, companies, prices, market shares, etc.
- List of product features.
- Social media posts, followers, etc.
- Evaluating visual design language.
- Content, voice and language.
- User demographics.
Competitive analysis is used to make various business strategies:
- To understand the competition of your product.
- Comparison of your product uniqueness with your competition.
- Identifying types of possible users.
- Comparison of different visual and language styles.
You can’t predict which feature is going to be valued or mostly used by users from your feature list so competitive analysis tells you what exists not why. You must a detailed list and should include all competitors, i.e. direct and indirect. It should update constantly depending upon the market including new competitions. Research your target users who are using other products to understand why and what products they use.
Webologix Global understand the foundation of competitive analysis as we are well aware of the ins and outs of the process. We prepare our customers to be on top by developing the full-blown strategies. We detect the core of the problem and fix them entirely for our clients.
Webologix Global experts do the top-grade competitive analysis for your business to make it stronger. From last 5 years our experts constantly analyzing the market trends and continuously amending the designing process to make the analysis valuable.