Product Analysis

Product analysis

Product analysis means asking questions about a product and forming answers.

Factors to consider during product analysis

1.      Materials: the quality of the materials used to make the product .high quality materials will result in high quality products.

2.      Environmental impact: is the product environmentally friendly or will it be hazardous to the environment? If the product is recyclable or re-used?

3.      Color or texture: is the color of the product likely to attract more customers. Will be the right color for the product?

4.      Health and safety: if the product is totally safe for human consumption. Does it fulfill the health and safety laws and standards?

5.      Nature of the product: whether it is necessity or luxury.

6.      Demand time analysis: some products have higher demand during some seasons.

7.      Demand place analysis: some products have higher demand in some places and lower in some places.