Competitive Analysis in Product Management
Competitive analysis is the process of identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to your own product or service. This is crucial for positioning your product in the market, identifying market trends, and uncovering areas of opportunity.
Google conducts competitive analysis across its various products, such as Google Search, to understand how competitors like Bing and Yahoo are performing. This helps Google to innovate and improve its search algorithms, ensuring it remains the preferred search engine for users worldwide.