A product competitive analysis aims to closely study and understand the terrain of the market on which the particular company intends to launch their products. It acts as a scouting report in providing a thoroughly realistic and unbiased objective report of the current status of the market. The analysis must identify the potential competitors that might interfere in the company’s marketing terrain and provide an in depth study of their strengths and weaknesses, product description and marketing strategies thereby helping the host company to formulate their own strategies accordingly.

Sample Product Competitive Analysis

Product Competitive Analysis Conducted by: J.M Fabrics

Product concerned: Linen Shirts


Potential Competitors:

  • Shopper’s Fantasy
  • Coolwear Fabrics
  • Comfort Fabrics Private Limited

Product Summaries:

  • Shopper’s Fantasy: The company launched their latest collection of linen shirts this spring. The shirts are designed by esteemed designer Joseph Andrews and are priced 29$.
  • Coolwear Fabrics: The company has launched their linen denim shirt collections aimed at the summer market. The shirts are known for their exclusive designs that are fast attracting fashionistas who prefer their clothes to be unique. The price ascribed varies from 30-52$ as per the designs of the product.
  • Comfort Fabrics: They have introduced a whole line of Hollywood inspired linen shirt collections that have already become an instant hit among the star struck customers. The company has known to have roped in some of the top designers from the film industry for this project. The price band fixed is 28$-58$.

Strengths and Weaknesses of Competitors:

  • Shopper’s Fantasy:
  1. Strengths: The shirts are extremely comfortable and durable. The price ascribed is affordable for all customers. The designs are trendy
  2. Weaknesses: Poor marketing strategy. A few faulty products have been reported in the market.
  3. Strengths: Exclusive designs, superior quality fabrics.
  4. Weaknesses: Expensive. The price tags are well above the affordability of middle class customers.
  5. Strengths: Intelligent marketing strategy. Populist designing.
  6. Weaknesses: Expensive. The products cater only to a certain crowd and cannot be worn at all occasions. Doesn’t work well for the non-filmy crowd.
  • Coolwear Fabrics:
  1. Strengths: Exclusive designs, superior quality fabrics.
  2. Weaknesses: Expensive. The price tags are well above the affordability of middle class customers.
  • Comfort Fabrics:
  1. Strengths: Intelligent marketing strategy. Populist designing.
  2. Weaknesses: Expensive. The products cater only to a certain crowd and cannot be worn at all occasions. Doesn’t work well for the non-filmy crowd.

 


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