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SOFTWARE > STUDY COMPETITION |
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The
only way you can distinguish your software product
from that of your competitor’s is by formulating
unique functionality into the software. What is the most
pragmatic way of devising a unique offering? The answer to this
is plain and simple. Study your competition! This is probably
the smartest thing you’ll ever do. Make a list of all
your competitors and their offerings.
Look out for news items and case studies on your competitors.
These would give you a fair idea of what makes them stand out
and what doesn’t. Sometimes it is also possible to study
customer reviews of software products offered by your competitors.
This sort of information is invaluable. It will help you in
offering your customers something your competitors don’t. |
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Assessing
the competition will also help you decide what kind of software
product you wish to develop. For instance, sometimes it may
not be worth selling a particular kind of product if your competitors
are dominant market leaders and cater to a high percentage of
the market
segment. An example of this would be an accounting system or
a word processing application. There are many standard accounting
systems easily available in the market. Also, MS Word is dominant
in the segment of word processors. |
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