What is the competitiveness of a product? How can it be determined? Are there effective ways to increase it? Everyone who is engaged in trading activities should know the answers to these questions. This will become an important aspect for planning and running a successful business. Especially considering the fact that today the competition in the market is simply huge, and buyers are becoming more and more demanding.
What is product competitiveness?
The competitiveness of a product is its ability to compete with similar products according to certain criteria. In other words, these are the characteristics that allow it to gain superiority over other products of this type in the eyes of buyers.
What is product competitiveness?
The competitiveness of products can be dividedtokelau email list nto three main types. It can be:
Price. This is the difference between identical products in cost. They may have different manufacturers, but the other characteristics are almost identical.
Non-price. Similar products compete on quality, design and other performance parameters.
Technical. The main advantage of the product is focused on its modernization.
How to determine the competitiveness of a product?
Competitiveness is one of those indicators that simply must be determined. After all, it indicates the demand for a product and allows you to predict the success of its implementation, as well as identify possible problems and eliminate them in a timely manner. What aspects will allow you to most fully and comprehensively identify the competitiveness of products?
Market analysis. In particular, it is necessary to pay attention to its main features, such as location, number of participants, scale.
Study of competitors. It is necessary to thoroughly consider all the nuances that are related to their activities. These are product features, trademarks, packaging, methods of implementation and marketing activities.
Researching customer needs. Here, you should consider the preferences of potential buyers, possible motives for making a purchase, as well as complaints related to this type of product.
Defining product evaluation criteria. It is necessary to clearly formulate the characteristics for the analysis; they can be technical, functional, and aesthetic (e.g. design).
The main indicator of the competitiveness of a product can be considered the level of customer satisfaction. In order to carry out the most reliable analysis, it is necessary to look at the product from the buyers' point of view.
How to determine the competitiveness of a product?
How to increase the competitiveness of a product?
It is possible and necessary to increase the competitiveness of a product, especially if it is a new product. An original solution can help with this. You just need to emphasize the advantageous difference of the product from competitors' offers, for example, a unique design, special characteristics. The main thing is that it corresponds to reality. Alternatively, you can offer customers an unusual way to use the product.
If the product does not have unique properties, it may be worth upgrading. In this case, it is necessary to take into account the needs of buyers and track their dynamics. Also, the competitiveness of products can be increased by improving the quality of service and brand promotion.
Competitiveness of the product and its specificity
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