Product analysis involves examining product features, costs, availability, quality and other aspects. Product analysis is conducted by potential buyers, by product managers attempting to understand competitors and by third party reviewers.
Product analysis can also be used as part of product design to convert a high-level product description into project deliverables and requirements. It involves all facets of the product, its purpose, its operation, and its characteristics.
Related techniques include product breakdown, systems analysis, systems engineering, value engineering, value analysis and functional analysis.
- Product breakdown: Recursively divide the product into components and subcomponents.
- Systems engineering: Ensure that the product satisfies customer needs, cost requirements, and quality demands.
- Value engineering: Consider alternative designs and construction techniques to reduce cost/increase profit.
- Value analysis: Assess the cost/quality ratio to ensure that the product is cost effective.
- Function analysis: Ensure that the product has features appropriate to customer requirements.