A feature table helps product managers differentiate their products with regard to the competition. It is a synthetic and easy to digest report that can be used to communicate a differentiated MVP description in line with a clear value proposition when facilitating product strategy team meetings.
Successful product managers are capable of adapting the products they manage through change. Some changes can be introduced by external market factors affecting all or most of the competitors, but most changes emerge as part of the competition between the players in the market. One of the best ways to track changes in your competition monitoring strategy is to track these three aspects:
In the previous pdmpill we talked about how to best identify competitors and how to classify them. Now let’s talk about some pragmatic criteria successful product managers have an eye on when understanding the competition.