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Product analysis is the evaluation of a product for the purposes of product development, review or purchasing. This may be performed by the producer, the customer or a third party such as a product review blog. As part of product analysis, a product may be tested and information gathered from sources such as customers and industry analysts. A product analysis may involve a comparison to competing products on the market. In the case of evaluation by a customer, the product may be assessed based on a set of requirements or customer needs. The following are illustrative examples of product analysis.
CostEvaluation of cost such as a product development team that calculates how much a proposed design will cost to produce at scale.FunctionsFunctions are what a product does. For example, a customer may evaluate the functionality of an industrial robot against a set of requirements.FeaturesFeatures are how functions are implemented. For example, two air purifiers that perform similar functions in removing fine particles from air that have different user interfaces. Features are often evaluated in terms of usability.
PerformanceThe performance of a product such as the responsiveness of a snowboard.Figure of MeritA measurable element of product performance such as a CPU benchmark for a computing device.Ingredients & MaterialsThe quality of a product's ingredients or materials such as a food product with natural organic ingredients as compared to a product with chemical additives.Sensory AnalysisSensory analysis is the evaluation of products using human senses such as taste, smell, touch, sight, sound and sensation.Look & FeelThe overall visual appeal of the product.Customer ExperienceThe end-to-end customer experience including the services that may be offered with the product. For example, considering the level of customer support offered by a bank as part of the analysis of a financial product.PackagingThe experience of opening up the product and reusing packaging.User ProductivityHow much you accomplish with the product in a unit of time. For example, a mobile phone that makes it easy to quickly enter text.EfficiencyThe resource consumption of the product such as the power used by a refrigerator.DurabilityThe ability of the product to retain value over time and when subjected to stresses. For example, a leather couch that still looks new after 5 years as opposed to one that looks worn in 6 months. This may be evaluated with accelerated life testing or with information from existing customers of the product.ReliabilityConsistent performance over time. For example, a printer that maintains high uptime across all customers versus a printer that has a reputation for downtime and being difficult to maintain.CustomizationThe ability to configure the product to your preferences or requirements.CompatibilityHow well the product integrates with other things such as a mobile phone that effortlessly integrates with data backup tools and hardware offered by many manufacturers.StandardsCompliance with standards such as a pillow that is independently certified to have low emissions of VOCs.SustainabilityThe impact of the product on the environment and communities.SafetyEvaluating product safety such as an organization that performs crash tests on vehicles.RiskThe risk associated with a product such as the risk of vendor lock-in associated with a software product.Security & PrivacyEvaluations of the security and privacy of a product. For example, considering the value of an household appliance that connects to the internet versus the security implications of this connectivity.Terms & ConditionsThe legal agreements that come with a product. For example, the software license agreements that apply to a mobile phone.Conformance QualityA product with adequate quality control such that every product is the same as opposed to the customer facing a risk of obtaining a defective product. Customers may evaluate this by looking for customer reviews that report a defect product or by seeking data from consumer protection agencies and organizations.ReputationA summary of the producer's reputation including your experiences with its products.ValueComparing the ratio of quality to price. In this context, quality is evaluated in terms of the product's fitness for purpose.SummaryThe following are common types of product analysis.OverviewThe process of systematically evaluating products.Next: Product Quality
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