Sample product analysis

Free eBook: Three principles for delivering experience-led product innovation. Product analysis can help you understand current product performance, where it sits within the marketplace, and what changes you need to make to elevate your product above the competition.

The first stage of product analysis is to gather reviews from customers within your target market. One of the best ways to generate the types of information you need is to use sentiment analysis. Sentiment analysis essentially uses customer conversations and qualitative data to ask customers what they think about your product.

You should look to get opinions on everything, from the customer experience to customer preferences towards specific features of your product or service.

You should get specific with your competitive product analysis and look at the features of the products even the features that are similar to yours. You should also have your product managers and marketing team analyze brochures, websites, online reviews, sales promos — whatever information you can find to help you understand your competitors and where their products fit against yours.

All of this information can help you find the gaps you could exploit in the future when making improvements to your product. Conducting in-depth product analysis should be able to answer some key questions about your product and also help you understand how you can achieve a number of goals depending on the questions you ask including:.

This can be used by your product team to understand the development costs of a product, and how much it will cost to manufacture at scale. For example, in SaaS a user may evaluate products based on the time or cost savings they will experience by using software to automate administrative tasks.

This will give you a better understanding of the user experience and how the features of your products will function. This information will be particularly useful for UX designers and those charged with improving the usability of your products or services. Trends analysis can help you understand the impact of feature adoption over time and whether improvements are having the desired effect.

Analyzing feature adoption in this way can help you understand whether customers favor new features or not. This is particularly useful when carrying out competitive product analysis because it provides insights into product changes your competitors are making and how to react.

Journey analysis outlines the path your customers take and the user actions they need in order to complete their goals. Understanding this can help you and your product team figure out where your product fits into that journey.

Attribution analysis is the process of understanding what customers attribute to their success, using user flows to identify the touchpoints the customer has had during the process.

Cohort analysis is used by product managers to gain insight into customer behavior during the product lifecycle across different groups within your target market.

Retention analysis is used to understand how likely or how often customers will return to your product over time. This is particularly useful for those with a digital product like a SaaS company or those with a subscription model. Product analysis is something that can be used across multiple business departments, but each department will be focussing on different metrics when trying to use the information gathered during the product analysis process.

Product managers will be looking for areas to improve and new features, marketing departments will be looking for customer insights to build marketing messages, and sales may be looking at ways to speed up conversion times.

Your product analytics platform should enable all parties to gather the information they need in one place. The best product analytics platforms promote better data management to make this ongoing process easy. There will be many stakeholders with an interest in product analysis, and processes that will need to be followed before the information can be used.

Your product analytics tool should make the presentation of key product analysis data easy and simple to understand for all interested parties.

It needs to be integrated with other business intelligence tools like a CRM in order to get a full picture of how a product is performing. Your product analytics software should integrate seamlessly with your other software to create a fully rounded view of product performance.

Qualtrics provides the perfect platform to perform product analysis and competitive product analysis in one system. With smart features like Text iQ and Predict iQ you can generate real insights from sentiment analysis and predict essential metrics like churn rates based on responses from customers.

Product Experience. Ready to learn more about Qualtrics? Experience Management. Customer Experience Employee Experience Product Experience Brand Experience Market Research AI. Experience Management Product Experience Product Management Product Analysis. See how ProductXM works Watch On Demand Demo.

This PPT Template is designed to evaluate the attributes of a current product, assessing their positive and negative aspects.

It delves into various key features such as functionality, cost, customer satisfaction, safety, aesthetics, environmental impact, and materials used. This template enables a comprehensive analysis of these dimensions, aiding in identifying strengths and weaknesses.

Get this PPT Template now! Focusing on the largest region, market size, applications, and key players, this PPT Slide presents a detailed market analysis.

Through pie charts and graphs, it contrasts the current year's data with a 5-year forecast, illustrating trends and projections. This template aids in strategic decision-making by visualizing market dominance, growth opportunities, and potential challenges. Download this design today.

These details include its client, that is the target market; size of the product and whether or not it affects anything; functioning of the product; material of the product; what makes it safe; the manufacturing cost of the product, and more.

Utilize this template today! In a landscape where customer expectations are continually evolving, product analysis emerges as a powerful tool for success. By scrutinizing functionality and aesthetics, it uncovers opportunities for refinement, innovation, and market alignment. This process minimizes the risk of launching subpar products and maximizes the chances of meeting consumer expectations.

Whether you're a seasoned entrepreneur or a newcomer, integrating product analysis into your development strategy is a must. PS: If you want to up your product strategy game, there is no need to look any further.

Follow this link and get to know how to create an Effective Product Strategy. Product analysis involves the examination of a product's features, design, functionality, and overall performance to assess its strengths, weaknesses, and potential improvements.

It encompasses evaluating factors such as usability, materials, manufacturing processes, cost-effectiveness, and user satisfaction. Through this assessment, businesses can make informed decisions about refining, enhancing, or developing products that better meet market demands and customer expectations.

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Home Blog Top 7 Product Analysis Templates with Samples and Examples. Top 7 Product Analysis Templates with Samples and Examples. Shivangini August 10 Customer Reviews 0. Deconstruct, Enhance, and Elevate Your Product's Potential Developing a successful product requires more than just a great idea; it demands a thorough understanding of its strengths, weaknesses, and potential improvements.

Let's go through top 7 Product Analysis Templates Template 1: New Product Analysis PowerPoint Template Deck Companies introduce new products and services to attract more customers. Template 2: Product Analysis Report PowerPoint Bundle This PPT Bundle is a complete set of 17 slides.

Template 3: Product Based Competitor Analysis Report PowerPoint Slide This PPT Design represents a competitor analysis report.

Template 4: Brand Product Matrix Competitor Analysis PPT Slide This PowerPoint Design simplifies the comparison of identical products across various brands. Template 5: Product Analysis Materials PowerPoint Template This PPT Template is designed to evaluate the attributes of a current product, assessing their positive and negative aspects.

Template 6: Company Product Market Analysis Report PPT Template Focusing on the largest region, market size, applications, and key players, this PPT Slide presents a detailed market analysis. Elevate Excellence In a landscape where customer expectations are continually evolving, product analysis emerges as a powerful tool for success.

So, download our Product Analysis Templates today! FAQs on Product Analysis What is product analysis? What tools are used in product analysis? SWOT Analysis: Evaluates a product's strengths, weaknesses, opportunities, and threats in its market context.

Prototyping Software: Creates digital prototypes for visualizing and testing product design and functionality. CAD Computer-Aided Design Software: Facilitates detailed product design, modeling, and simulations. Usability Testing Kits: Conducts user trials to identify user experience issues and refine product usability.

Cost Analysis Software: Assesses production costs, pricing, and potential cost-saving strategies. Bench-marking Tools: Compares product features, quality, and performance against competitors' offerings.

Feedback and Survey Platforms: Gather user opinions and preferences to inform product improvements. Material Testing Equipment: Analyzes material properties for durability, safety, and quality assurance.

What are the two components of product analysis? Functional Analysis: This involves dissecting a product's intended purpose, features, and operations.

It delves into how the product works, its functionality, and how it meets user needs. Functional analysis helps identify design flaws, strengths, and areas for improvement. Aesthetic Analysis: This focuses on the product's visual appeal, design elements, and sensory aspects.

Aesthetic analysis considers factors like shape, color, texture, and overall aesthetics, aiming to enhance the product's attractiveness and user experience.

Example #1: Decluttering Your UI From Features That Nobody Uses. Great products are not the ones that have more features than their competitors. In fact, most Product analysis examples are useful for gaining insights into customer preferences, identifying product demand, making informed product decisions, and creating Create a well-formulated product analysis. Browse through the downloadable examples available in this post so you can have references and guides when

5+ Product Analysis Report Templates – PDF, Word, Apple Pages

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Product Analysis: What am I?

Sample product analysis - Learn how to assess your product's performance, collect valuable data, and gather customer feedback to make informed improvements for the future Example #1: Decluttering Your UI From Features That Nobody Uses. Great products are not the ones that have more features than their competitors. In fact, most Product analysis examples are useful for gaining insights into customer preferences, identifying product demand, making informed product decisions, and creating Create a well-formulated product analysis. Browse through the downloadable examples available in this post so you can have references and guides when

It is hard to believe, but almost half of the goods you sell to your customers fall under this particular category. It involves those products that usually make a general turnover for your company or business. Even though this is the smallest category in your group for analysis, it is a very helpful one.

You ask why? Here is the answer! This category represents the items that provide the most revenue for your company without requiring putting many resources to it. Check out Payments Analysis report and read about Magento BI extension Power BI Integration to get more information on how this and other reports can help your business to flourish!

The store will not work correctly when cookies are disabled. Allow Cookies. Sample Magento Reports. Reports Overview 1. Sales Forecasting 2. Monthly Performance Report 3. Related Products 4.

Repeated Orders 5. Average Order Value 6. Data Actualization Status 7. Today's Performance 8. Latest 7 Days Performance 9. Orders by State Average Price Analysis Product Price Change Sales Rule Performance Analysis Orders Overview Sales Overview Year to Year Comparison Top Products Because companies like these have the resources and synergy to develop new products internally as well as make acquisitions, they achieve impressive product portfolio growth over time.

By contrast, younger, growing companies with small product portfolios may not possess many of the star or cash-cow products that mature companies use as capital for innovation initiatives.

Many factors determine the quality of that management: Are you allocating your resources appropriately? How well are you measuring market attractiveness? How efficiently are you cutting waste? How skilled are you at identifying products with the best potential for market success?

When your company has fewer products, any instability will deeply impact your business operations. Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change.

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How to Showcase Your Collection of Products and Services with Product Portfolio Examples Get free Smartsheet templates. Get a Free Smartsheet Demo. By Kate Eby October 11, updated September 26, Share on Facebook Share on Twitter Share on LinkedIn Copy link.

Link copied. In this article. Company Product Portfolio Examples A product portfolio is the complete collection of products or services that a business sells. What Is Product Portfolio Management and Analysis? Before diving into product portfolio analysis, consider the following: Define the Product Level You Will Analyze: For example, Coca-Cola has a portfolio that includes sparkling beverages Sprite,Coca-Cola, etc.

It can also take place at an even more granular level i. While it is important to perform an analysis at all product levels, from the broadest to the most specific, you should make sure that each analysis takes place at the equivalent level across product lines.

In other words, you should always be comparing apples to apples. Define the Analysis Parameters: Ensure that you are using the same measurement units, equivalent geographies, and equivalent time frames for each product. Choose the Most Appropriate Matrix or Model for Analysis: This is a crucial step in product portfolio analysis, so allot ample time for determining your format.

Collect Accurate Data: This is the most time consuming step, as you will need to collect specific data e. for each product in question from valid sources. Choose Your Method for Projecting Positions in the Matrix: To project positions in your matrix, determine whether you will rely on historical data, future forecasts, or both.

Product Portfolio Management Example. Product Portfolio Analysis Example Product portfolio management and analysis can help bring products to market faster and reduce investments in unsuccessful products.

Sample product analysis - Learn how to assess your product's performance, collect valuable data, and gather customer feedback to make informed improvements for the future Example #1: Decluttering Your UI From Features That Nobody Uses. Great products are not the ones that have more features than their competitors. In fact, most Product analysis examples are useful for gaining insights into customer preferences, identifying product demand, making informed product decisions, and creating Create a well-formulated product analysis. Browse through the downloadable examples available in this post so you can have references and guides when

We want to show you examples of real businesses and how they benefited from engaging with product analysis. Product analysis is essential for any company. TalentLyft is an example better than any of how it can help enhance a product's user experience.

To gain valuable insight into users' actual experience with the platform, TalentLyft used LiveSession. We helped them understand their users' journey and behavior. With LiveSession, they were able to learn that many of their customers were not using filters and needed more clarity on labels.

They also discovered that some customers were not familiar with certain shortcuts or logical operators, and this knowledge enabled them to make important improvements.

In short, LiveSession helped TalentLyft gain valuable insights into its customers' preferences, and it can do the same for companies looking to improve their products.

Read more here. Databox, a company specializing in automated reporting for businesses, recognizes the importance of product analysis in improving the quality of their service. To identify where users were struggling during the onboarding process, Databox searched for a reliable session replaying software.

After experimenting with various options, they found that LiveSession was the best solution. As a result, they were provided with insights that were crucial for improving their onboarding experience. The automated integration of LiveSession with Intercom also helped Databox to compile a prioritized list of flaws in their UX.

They did it by observing how customers use their app, starting from those most inconvenient for users. These impressive results demonstrate the value of product analysis initiatives, and the critical role that LiveSession played in this process. Databox was able to make informed decisions that ultimately led to the improvement of their service.

All thanks to leveraging the power of LiveSession,. Their success is a testament to the importance of engaging with product analysis and session replaying software.

Whether you're a startup or an established business, taking advantage of the benefits offered by LiveSession can help you gain a competitive edge and improve your bottom line. We needed to find the best-in-class session recording software.

LiveSession lives up to our high expectations. RocketLink is a link shortening tool. It offers the ability to add retargeting pixels to URLs, allowing for smarter PPC ads and increased conversion rates.

CEO and founder Wojtek Jasnos understands the importance of constant product analysis to meet user expectations. RocketLink began using LiveSession to monitor user behavior on their app and website. The team identified common issues. Those were invalid pixel ID formats and incorrect discount code usage.

They also discovered that potential customers were clicking on non-clickable feature cards on their homepage. This led the team to add short feature descriptions. We let them understand the customer journey, improve their onboarding process, and make their app and website more convenient for users.

We can also record sessions on our homepage and all other pages. That allows us to understand what our users do on our website before they sign up. As a result of their motto, they realized they would be more successful with session tracking software. So they found us. We let them analyze different sections of the web page separately.

The information collected through LiveSession includes the number of clicks, new users' data, error clicks, rage clicks, and exit points. Our insights help Plaxonic Technologies to offer valuable enhancements to its customers, such as recommendations for UX and web design improvements.

Plaxonic Technologies uses LiveSession mainly to help its customers, but the company also benefits from this solution by automating some of the team's work and providing valuable data for decision-making. LiveSession is an example of advanced technology supporting leaders like us. RandomCoffee is a solution for companies who want to maintain strong bonds between their employees.

RandomCoffee decided to use LiveSession software to track user sessions, segment them, and analyze user activity. With a focus on UX design, RandomCoffee used LiveSession to understand user behavior and improve product functionality.

The case of introducing two new features to the solution is an excellent example of a situation where it is known that something is wrong, but it is not known what or why.

By using LiveSession's Inspect Mode functionality, RandomCoffee was able to identify the root cause of the issue. This way, they were able to make the necessary improvements. Overall, RandomCoffee's use of product analysis initiatives, including LiveSession, allowed them to advance through the product lifecycle stages.

We hope the above examples have proven to you the importance of product analysis. What do you think after reading them? Are you planning on engaging with product analysis anytime soon? Whether it's addressing user experience issues, streamlining processes, or incorporating new features, this detailed examination enables product owners to prioritize improvements effectively.

By focusing on these identified areas, the product can continuously evolve, ensuring it meets and exceeds user expectations. Product analysis empowers owners and managers to make informed decisions based on concrete data and insights.

By assessing performance metrics, user feedback, and market trends, stakeholders can confidently strategize product development, marketing initiatives, and resource allocation.

This data-driven decision-making approach minimizes risks and maximizes the potential for success in a dynamic business landscape. In a competitive market, staying ahead is crucial, and product analysis serves as a catalyst for maintaining a competitive advantage.

By staying attuned to customer feedback, monitoring industry trends, and adapting swiftly to changes, product owners position their offerings as innovative and customer-centric. This proactive stance not only helps retain existing customers but also attracts new ones, solidifying the product's standing in the market.

Now that we have understood the significance of product analysis, let's explore a step-by-step guide on how to conduct a thorough product analysis. Conducting a product analysis involves a systematic approach to gather and analyze data, ensuring a comprehensive understanding of a product's strengths and weaknesses.

In this section, we will outline a step-by-step guide for product owners and managers to effectively perform product analysis and extract actionable insights:. Product analysis is a crucial aspect of managing and improving a product's performance.

The first step is to clearly define your objectives and Key Performance Indicators KPIs to ensure focused analysis. Objectives: Clearly outline what you aim to achieve with your product analysis. It could be enhancing user experience, increasing customer satisfaction, or optimizing product features.

KPIs: Identify specific metrics that align with your objectives. For example, if your goal is user engagement, relevant KPIs would include daily active users, session duration, and feature adoption rates.

Selecting the appropriate data sources is vital for obtaining valuable insights into your product's performance. Utilize a combination of quantitative and qualitative data for a comprehensive analysis.

Product usage data: Track feature usage rates and custom event completions to optimize the user journey and enhance user activation. This quantitative data provides insights into which features are popular and where users may be experiencing difficulties.

Heatmaps and session recordings: Analyze user in-app engagement patterns by leveraging heatmaps and session recordings. This visual data allows you to identify areas of friction in the user interface, enabling you to make informed design improvements.

User feedback: Gather both quantitative feedback through Net Promoter Score NPS or Customer Satisfaction CSAT scores, and qualitative feedback to pinpoint specific areas for improvement. Understand the sentiment behind the numbers to address user concerns effectively. Customer testimonials, reviews, and social media mention: Monitor what users are saying about your product on various platforms.

Extract valuable insights from testimonials, reviews, and social media mentions to gauge public perception and identify areas for enhancement. Customer success and support interactions: Engage with customer success, support, or sales teams to gain firsthand knowledge of user needs and pain points.

This direct interaction provides qualitative data that complements quantitative findings. Once you have collected data from various sources, the next step is to analyze it to identify trends and patterns that can guide decision-making.

Aggregate data: Consolidate data from different sources to get a holistic view of your product's performance. This allows you to identify overarching trends rather than focusing on isolated metrics. Identify patterns: Look for recurring patterns or anomalies in the data. For example, if a particular feature usage spikes after a product update, investigate the reasons behind it to understand user behavior.

User segmentation: Analyze data based on user segments. Understanding how different user groups interact with your product can provide insights into personalized strategies for improving their experience.

Armed with insights from your analysis, it's time to make informed decisions to enhance your product. Prioritize changes: Identify the most impactful areas for improvement based on your analysis.

Prioritize changes that align with your objectives and have the potential to positively impact key metrics. Iterative development: Embrace an iterative approach to development. Implement changes gradually, monitor their impact, and make further adjustments based on ongoing analysis.

This ensures a continuous cycle of improvement. Data-driven roadmap: Use your analysis to create a data-driven product roadmap. Align your development efforts with the identified trends and user needs to drive sustained product growth. Effectively communicating your analysis findings is crucial for aligning cross-functional teams and driving collaborative efforts.

Create clear reports: Summarize your findings in clear and concise reports. Use visuals such as charts and graphs to make complex data easily understandable for various stakeholders.

Cross-functional meetings: Conduct regular cross-functional meetings to share insights and foster collaboration. Ensure that teams such as development, marketing, and customer support are aligned on the product goals and strategies. Feedback loop: Establish a feedback loop to gather input from different teams.

This collaborative approach ensures that insights from various perspectives contribute to a more comprehensive understanding of the product's performance. Training sessions: Conduct training sessions to empower teams with the skills to interpret and use product analytics. This promotes a culture of data-driven decision-making throughout the organization.

Now that we've covered the step-by-step process of product analysis, let's move on to explore the various methods available for conducting product analysis. Product analysis can be approached through various methods, each offering unique perspectives and advantages.

As a product owner or manager, having diverse methods of product analysis empowers you to tailor your approach to the specific needs of your product and market:. Trend analysis involves studying historical data to identify patterns and predict future market trends.

It helps product owners understand market shifts and adapt their strategies accordingly. Competitive product analysis involves evaluating competitor products to gain insights into their strengths, weaknesses, and market positioning.

This helps in refining and enhancing one's own product strategy. Journey analysis involves mapping a user's journey from awareness to purchase and beyond. It helps in understanding user interactions, optimizing touchpoints, and enhancing overall user experience.

Segment analysis involves categorizing customers into segments based on common characteristics. This helps tailor product strategies to specific segments for increased effectiveness.

Attribution analysis involves determining the impact of each marketing channel on the overall conversion. It helps in allocating resources effectively by identifying the most impactful channels.

Cohort analysis involves grouping users based on common characteristics and analyzing their behavior over time. It helps in understanding user retention and engagement patterns. Retention analysis involves evaluating the ability of a product to retain users over time. It helps in identifying factors influencing user retention and implementing strategies to enhance it.

Churn analysis involves studying the rate at which users stop using a product. It helps in understanding the reasons behind user churn and developing strategies to minimize it. User feedback analysis involves systematically reviewing and understanding user feedback, reviews, and suggestions.

It helps in gaining valuable insights into user satisfaction and areas for improvement. Having explored the methods, our focus now shifts to the key product analytics metrics that should be on your radar for a comprehensive product analysis. Measuring the right product analytics metrics is pivotal for a successful product analysis.

This section outlines the key performance indicators KPIs that product owners and managers should be tracking to gauge the health and success of their products in the market:.

CAC measures the cost of acquiring a new customer. It encompasses various expenses incurred in marketing, advertising, and sales efforts. Understanding CAC is crucial for assessing the efficiency of your customer acquisition strategies.

It helps in optimizing budgets and resources, ensuring a sustainable growth model. Identify costs: Sum up all expenses related to customer acquisition, including advertising spend, salaries, and overheads.

Determine the time period: Define the timeframe for calculation, ensuring consistency in data. Calculate CAC: Divide total acquisition costs by the number of new customers acquired during the chosen period. This metric evaluates the percentage of users who transition from a free trial to a paid subscription, offering insights into your product's ability to convert interested users into paying customers.

Tracking trial to paid conversion rates helps identify the effectiveness of your product's value proposition and the user onboarding process. Identify metrics: Count the number of users who started a trial and the number of users who converted to paid subscriptions.

Calculate conversion rate: Divide the number of paying users by the total trial users and multiply by to get the percentage. Activation rate measures the percentage of users who complete a specific set of actions or reach a certain milestone, indicating successful onboarding and engagement. A high activation rate signifies a positive user experience and increased likelihood of long-term product usage.

Define activation criteria: Identify key actions users must take for activation. Count activated users: Track the number of users who complete the specified actions. Calculate activation rate: Divide activated users by the total number of users and multiply by Retention rate gauges the percentage of customers who continue to use your product over time, reflecting user satisfaction and the effectiveness of ongoing strategies.

High retention rates are indicative of a loyal customer base and reduce the need for continuous heavy investment in acquiring new customers. Count remaining customers: At the end of the period, count the number of customers still using your product.

Calculate retention rate: Divide remaining customers by the total customers at the start and multiply by CLV represents the total revenue a customer is expected to generate throughout their entire relationship with your product.

Understanding CLV aids in setting appropriate budgets for customer acquisition, ensuring that the cost of acquiring a customer doesn't exceed their lifetime value.

Determine average purchase value: Calculate the average amount a customer spends per transaction. Calculate purchase frequency: Determine how often, on average, customers make a purchase. Identify customer lifespan: Estimate the average number of years a customer remains engaged.

Calculate CLV: Multiply average purchase value by purchase frequency and customer lifespan. Now that we've covered the essential metrics, let's explore the next crucial step in the product analysis journey: how to compile an effective product analysis report.

Creating a product analysis report is the bridge between data and actionable insights. In this section, we will guide product owners and managers on how to structure and compose an effective product analysis report that communicates findings clearly and supports informed decision-making:. The title page serves as the introduction to your product analysis report.

It should include essential details such as the product name, date of analysis, and the names of the individuals involved in the assessment. Clear and concise presentation on this page sets the tone for the rest of the report.

The table of contents provides a roadmap for readers, guiding them through the various sections of the report.

You might look at how much analyis the product producf and how that compares Sample product analysis other products Discounted gluten-free pet food the market. Poduct Products prodict. The store will Sample product analysis work correctly when profuct are Sample product analysis. Product analysis helps in identifying customer needs, preferences, and pain points. Other than that, we hope you enjoyed our 8th out of 9 articles in the content cluster on product analytics series. Product analysis is a vital tool for any product manager that wants to create or improve a product. Starting a product analysis at the inception of an idea can help determine the current market environment.

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