Product Feature Competitive Analysis

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					This Product Feature Competitive Analysis template was created to standardize the
competitive analysis process of a company. This tool is designed to allow for the
evaluation of the product and its competitors while at the same time, to identify and
analyze a product's competitive edge or areas for improvement based on the results of
the evaluation. Once the template is completed, the company can assess its product in
comparison to its top competitors. This document should be used by companies that
want to compare their product to their competitors' products.
Product Feature Competitive Analysis

OBJECTIVE:
(Instructions: Identify the objective of the competitive analysis. Specify the goal or document the type of
conclusion you hope to derive from this analysis.)

This competitive analysis aims to identify how Bank of the World (our bank) competes with other banks
in terms of providing online business solutions. Specifically, it aims to make a thorough assessment of
each bank’s end-user system (website) based on identified features or criteria as well as to analyze how
we can improve our bank’s online services.

SUBJECT:
(Instruction: Here, enumerate the identified competitors and provide a brief background of each.)

[NAME OF COMPETITOR: Rich Bank]

Bank has been in the industry since 1945. It offers loans and mortgages with the lowest interest rate. Has
branches throughout the U.S.


[NAME OF COMPETITOR: The Great Bank]

Formerly known as The Good Bank. Was close to declaring bankruptcy, but business picked up
sometime in the 80s and since then, has been one of the most sough-after creditors.


Bank of the Bankers

Founded by and started as a cooperative of business and banking tycoons, but now caters mostly to the
elite.


River Bank

Has been in business for over 200 years. It is a holder of most of the mortgages in the West.




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CATEGORY 1: (Instructions: Specify the category and provide a brief discussion of its scope.
Mention the features that need to be assessed.)

Homepage Layout
Assess the overall look of the homepage; consider how customer-friendly it is and how relevant
the information presented is.

Evaluate based on the following features:
    Easy navigation—examine how easy it is to find the desired links or products and
       services offered
    Availability of Quick Links—see how complete and organized the Quick Links section is
    Availability of Search Box—see if a search box is provided on the homepage

(Instruction: Based on the product features, rate each competitor from 1–5, 5 being the highest
and 1 the lowest. Put an X mark if a particular feature is not available. Provide objective
observations about each competitor to support the score given. A row is provided for each item’s
total score. Rank the product and its competitors based on their final scores. Analyze the notes
made on each competitor, and see how your product can be improved. More features may be
provided as required.)
                           Bank of the                     The Great     The Bank of
      FEATURE                              Rich Bank                                      River Bank
                             World                           Bank         Bankers
Easy Navigation                4                5              3              3                2
Availability of Quick
                                5               5               4              3               X
Links
Availability of Search
                                5               5               5              5               5
Box
Total                            14            15               12             11               7
Ranking                           2             1                3              4               5
                           The Products   Very good       No link to    Incomplete        Poor layout
                           and Services   layout; links   most of its   links; not very
Observation                link is not    are well-       products      organized
                           very easy to   arranged
                           find

Action Plan                                   Modify layout; move the products link




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CATEGORY 2: (Instruction: Specify the category and provide a brief discussion of its scope.
Mention the features that need to be assessed.)


Interactivity
See how interactive the website is — is there room for online discussion, or does it offer online
live support, etc.?

Evaluate based on the following features:
        Availability of online forum — see if there is an arena in which customers can discuss bank-
         related concerns or issues. How is this structured?
        Availability of online live support — check for the availability of online live support and evaluate
         timeliness and accuracy of their response
        Virtual tour of the products — check if a virtual tour option is provided; also check for available
         animated presentation of products and services

(Instructions: Based on the product features, rate each competitor from 1–5, 5 being the highest
and 1 the lowest. Put an X mark if a particular feature is not available. Provide objective
observations about each competitor to support the score given. A row is provided for each item’s
total score. Rank the product and its competitors based on their final scores. Analyze the notes
made on each competitor, and see how your product can be improved.
More features may be provided as required.
                           Bank of the                        The Great        The Bank of
        FEATURE                              Rich Bank                                         River Bank
                             World                              Bank            Bankers
Availability of online
                                  3               4          
				
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Description: This Product Feature Competitive Analysis template was created to standardize the competitive analysis process of a company. This tool is designed to allow for the evaluation of the product and its competitors while at the same time, to identify and analyze a product's competitive edge or areas for improvement based on the results of the evaluation. Once the template is completed, the company can assess its product in comparison to its top competitors. This document should be used by companies that want to compare their product to their competitors' products.