In our continued commitment to bringing product managers and product marketing researchers competitive analysis spaces, today, we are happy to announce that you can import competitive products and features, including options, into the Gocious central library. You can use competitive product records to create competitive dashboards to compare competitive products side by side with yours.
As a product manager, knowing the value of your products in the market is a never-ending pursuit. It is a fundamental gauge to determine whether the product needs changes and how best to position it in the market. There are different methods to assess value and use that to determine how to position the product. However, in this article, we will focus on Value Map, which is a tool to assess the positioning of your product in terms of price and customer value compared to the competition.
It's a critical step in business; you have to know what you're up against to chart a course to success. Yet every year, many new products miss the mark, while others in the same market seem to have runaway success. What is it that sets these products apart? Technical capability? Marketing magnificence? Unimaginable innovation?
Topics: Competitive analysis
Staying competitive means keeping an eye on your competitor’s products and ensuring that your products have a clear differentiating feature against them. Competitor’s products go through changes. Keeping your records up-to-date and regularly revisiting your side-by-side comparison charts is essential in ensuring your product is still staying ahead of its competitors.
Doing an analysis on your competitive products is essential to making sure your planned products have the best chance of success in the marketplace. You must identify your strategic advantage and leave the competition in the rear-view mirror.
Here at Gocious, we realize how significant the value of a brand is to our customers. A company brand brings more credibility and marketing leverage and brings a sense of pride, ownership, and belonging. Not to mention, branding your space gets you out of trouble with the marketing and branding team!