Tag Archive for: competitive analysis

What You Can Learn From a Competitive Analysis

The Advantages of Conducting a Competitive Analysis

Imagine for a moment that everyone lives in a vacuum. Then, if we’re all living in vacuums, any problems or obstacles that arose would be entirely our own to address. Subsequently, in each vacuum then, we would see a variety of solutions that evolved to address the same issues from vacuum to vacuum. However, we don’t live in vacuums that are entirely separate from one another. Because of this, the very popular phrase, “don’t reinvent the wheel” still exists today. Simply put, it doesn’t do any good to spend time, energy, and resources developing an entirely redundant value. In the context of mobile app development this means conducting a comprehensive competitive analysis.

There are many benefits that developers reap from conducting a thorough competitive analysis. The competitive analysis is a process in the mobile app development workflow that helps the development team gain an understanding of the current marketplace. There are many factors to consider when conducting this analysis.

What To Look For During a CA

A competitive analysis begins internally. The mobile app developers must come to a value-proposition for their application-in-development before a proper analysis can begin. Defining the value proposition of the application prior to the market analysis is vital. Without the value-proposition clearly defined, the developers won’t have a lot of the information needed to properly move forward with the analysis.

Once the value proposition is defined, the developers will have a sense of where in the mobile market their competition lies. Once you’ve identified the competition, your team can begin drawing lines of differentiation between your application and that of your competitors. This is important. It’s important because it heavily influences your marketing strategies. If your team don’t understand what makes your application different, the end-user won’t either.

Other Competitive Analysis Tactics

Understanding the value-proposition and the differentiators between your application and the competition is just the beginning. There are an endless amount of insights that can be drawn from conducting a thorough and comprehensive competitive analysis. In addition to the insights found regarding factors of differentiation, the market analysis also provides deep insight into consumer behaviors.

Through the process of the market analysis trends will begin to emerge. These trends will apply to a variety of application elements. Ranging from user-experience, to the most trendy color-schemes, paying attention during the competitive analysis will result in mountains of useful data.

One aspect to which developers should pay specific attention is the user experience. The user experience is one of the most significant and impactful factors of any mobile app. With as much competition as exists within the market, and how many variations on a single solution is available to the end-user, consumers are becoming much more likely to delete an app and switch to a competitor after a single negative experience.

A Final Thought

There are endless insights to be drawn from a thorough competitive analysis, and this article only scratches the surface. For more information on competitive analysis, or anything related to mobile app development, visit NS804 today.

MVP Development: Competitive Analysis and Feature Sets

Developing a Successful MVP

Before developing a minimum viable product (MVP) developers conduct their due diligence to make decisions about the MVP prior to releasing it. That ensures the MVP includes vital features that display the core functions of the app. While there are many aspects to consider, two are especially crucial. Firstly, there is the competitive analysis.

The Competitive Analysis

The competitive analysis is a way to determine the specific competitive advantage of the mobile app. In other words, the comparison of mobile apps in the same market. Mobile app developers find valuable insight from these comparisons. Insights that highlight differences between mobile apps.

These differences then become differentiating factors. Enough of these factors form a competitive advantage. A comprehensive competitive advantage then informs the marketing strategy.

Another important aspect to consider when conducting a competitive analysis is the product-market fit. The product-market fit helps determine exactly where in the marketplace any specific app fits. Thus, leading to important insights that the marketing team leverages into different marketing tactics. In turn, forming the overall marketing strategy.

Feature Sets

Feature sets are also incredibly crucial in the development of a successful MVP. The feature sets of an app are the high-level pillars of what makes the app viable. In other words, feature sets make up the core skeleton of the app.

Another way to look at the feature sets of a mobile app is to define what solution the application offers the end-user. Essentially, what purpose does the app serve?

Defining the feature sets of the mobile app is an important step in the MVP development process for a spectrum of reasons. One of the most crucial is that some to many of the aspects defined as a feature set need to be included, to some capacity, in the MVP.

Moving Forward With The MVP

After determining the feature sets of the app the developer can begin designing and building the core of the application. Once the development process is a little further along, the app will be ready for the competitive analysis. Between these two components, an MVP is born.

While the MVP is being built behind the scenes, the marketing team surely is surely not sitting idly by. Once developed, the MVP needs groups ready to test it. These groups often include early adopters.

After the MVP undergoes testing, and the competitive analysis is complete, a mobile app is ready for it’s home-stretch.

At this point in the process, there is plenty of data readily accessible for mobile app developers to complete the app. Insights garnered from conducting the competitive analysis and the product-market fit. Additionally, extra aspects of feedback offered by test-groups from the released MVP.

Develop an MVP with NS804

NS804 is the mobile app developer of the people. NS804 brings mobile app development services to the everyday person with a good idea. With experience that spans the entire mobile-app marketplace and a team of expert developers and designers, bring your mobile app idea to life with NS804.