Many of the seller’s operational decisions before and after Amazon products are launched are based on the results of market analysis. Operations must not just use the information provided by product development as a criterion for judgment. They should also conduct personal research on the market to understand the actual competitiveness of the product in this market. But how to determine the competitiveness of the product in this market?
During the research process, existing competing products were analyzed. When analyzing the current competitive advantages of industry competitors, sellers should pay more attention to the product pain points of current mainstream competing products.
In addition, it should also be analyzed whether there are high market entry thresholds in this market, and risk factors such as infringement and sales bans should be eliminated. and determine whether high-threat alternatives exist.
If the product is not competitive, the investigation process ends and there is no need to continue listing the product. Special attention should be paid to the fact that if the product is a mediocre product without differentiation, has quality problems or is an unprofitable product, the product should be abandoned directly.
If the product is still alive after rigorous investigation and screening procedures, then the seller can make product planning for the product. But before that, all the analysis results need to be sorted out and summarized based on the SWOT analysis method.
SWOT (Strengths Weakness Opportunity Threats) analysis method, that is, based on situation analysis under the internal and external competitive environment and competitive conditions, it can make use of various major internal strengths (strength) and weaknesses closely related to the research object (weakness) and external opportunities (opportunity) and threats (threat), after investigation, they are listed and arranged in a matrix form. Then, using the idea of system analysis, the various factors are paired, and based on this analysis, a series of related factors are obtained. in conclusion. Moreover, the conclusions often have a certain degree of decision-making. By applying this method, the current status of the research object can be studied comprehensively, systematically and accurately, and corresponding development strategies, plans and countermeasures can be formulated accordingly.
Combined with the SWOT analysis method, you can fully understand the strengths and weaknesses of the product itself and explore market opportunities and threats from the outside. In the face of advantages and opportunities, sellers must think about how to use their advantages, seize opportunities, and seize the best breakthrough points to achieve growth; regarding disadvantages and opportunities, they must think about how to seize opportunities, and regarding advantages and threats, they must consider how to use advantages and avoid them. To deal with threats, adopt a variety of different business methods in a complex business environment; in response to disadvantages and threats, you must have a crisis awareness, consider how to reduce disadvantages, avoid threats, and take timely defensive measures.
Ultimately, sellers need to make a summary of these conclusions to help make operational decisions.