Checklist for Studying Competing Product
Two days ago one of my friend came told me that he failed to export his company product abroad because it is not qualified product. With a little empathy I said to him “you have to have a competing product if you want it exportable”
Here is some checklist for studying competing product:
Product
- Technical evaluation: raw material used in competing product; variety of models, types, sizes, shapes, colors available; previous changes, alterations and improvements in competing product; their adaptation to standards; origin of competing product; their durability.
- Appraisal of quality: strength, efficiency, performance, appearance, suitability, ease to use of competing product.
- Legal protection: situation concerning patent right and licenses of competing product.
Packaging and Presentation
- Technical evaluation: design, shape, materials used, closure of competing packaging; resistance to climatic conditions (heat, humidity and so on); ease and reliability of packing and packaging during shipping, handling storage, display; compliance with official regulation.
- Attractiveness: size, shapes, color, convenience quality impression, label design of competing packaging.
- Identification: shapes, color, label, trade mark of competing product.
- Information conveyed on packaging: product description, ingredients’ instructions for use.
Product Service
- Types of service offered by competitive products – delivery, installation, conditioning, parts and accessories, education in use, possibility of returned goods.
Price Structure
- Consumer prices: basic list price; taxes; discounts; means of payment; allowance of damage goods; variation between regions types of outlet.
- Price to trade: range of price; discounts; payment term; allowances to importer, wholesalers anf retailers, by product, region, size of order, types of dealer.
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Other variant is possible also
Good read, thanks. Always looking out for weird and wonderful stuff to read
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Reading this reminds me of my old room mate. That guy was one of the smartest characters I know, but he was a little outlandish for my tastes though. Anyways I appreciated reading this, thanks. Will give me something to discuss when I see him.