{"id":75,"date":"2020-05-25T01:29:02","date_gmt":"2020-05-25T01:29:02","guid":{"rendered":"https:\/\/libraryresources.nse.org.ng\/me270baughman\/chapter\/chapter-2-market-analysis\/"},"modified":"2026-03-16T13:57:51","modified_gmt":"2026-03-16T13:57:51","slug":"chapter-2-market-analysis","status":"publish","type":"chapter","link":"https:\/\/libraryresources.nse.org.ng\/me270baughman\/chapter\/chapter-2-market-analysis\/","title":{"raw":"Chapter 2: Market Analysis","rendered":"Chapter 2: Market Analysis"},"content":{"raw":"
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Research Market Competitors - Benchmarking<\/span><\/h2>\nIn researching the market, your team needs to understand the customer's experience(s) with existing products on the market. These competitors are then assessed using CRs. The idea is for your design team to understand the customer's current experiences, or what products they are using to satisfy their requirements. This gives the opportunity for your design team to see what kind of product you can design to better satisfy the customer, so you can capture the market!\n\nhttps:\/\/youtu.be\/qEqiC-XBqi4\n\n<\/div>\n

Benchmarking_Video Script [DOC]<\/a><\/p>\n\n

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Let's take a look at MIRE_TECH's competitor assessment\/analysis from the HoQ: <\/span><\/h2>\n<\/div>\nThe team identified four competitors to assess using the customer requirements with rankings of 1, 3, and 9:\n<\/span>\n\n\n\n\n\n\n\n\n\n
Table 1. Stove Reviews<\/caption>\n
Chitetezo<\/span> mbaula<\/strong><\/td>\nWeber-741001 Grill\n<\/strong><\/td>\nGreenfire Stove<\/strong><\/td>\nRocket Stove\n<\/strong><\/td>\n<\/tr>\n<\/thead>\n
9<\/td>\n1<\/td>\n1<\/td>\n9<\/td>\n<\/tr>\n
9<\/td>\n3<\/td>\n9<\/td>\n3<\/td>\n<\/tr>\n
9<\/td>\n9<\/td>\n9<\/td>\n3<\/td>\n<\/tr>\n
9<\/td>\n9<\/td>\n3<\/td>\n3<\/td>\n<\/tr>\n
3<\/td>\n9<\/td>\n3<\/td>\n9<\/td>\n<\/tr>\n
3<\/td>\n1<\/td>\n1<\/td>\n3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n[caption id=\"attachment_1155\" align=\"aligncenter\" width=\"192\"]\"Table<\/a> A screenshot of the same data from above, as it would appear in the DMADVR spreadsheet.[\/caption]\n\nThe team's assessment shows that Chitetezo mbaula\u00a0<\/strong> as the highest performing competitor or the competitor that met the customer requirements with the highest score! The team can use this information to analyze the top-scoring competitor. This provides the team with knowledge about where they can either meet or exceed customer expectations in their designs!\n
\n\nThe Chocolate Chip Cookie design team also researched the competition and reviewed how they stacked up:\n\n\n\n\n\n\n\n\n
Table 2. Cookie Reviews<\/caption>\n
Mrs. Field's<\/strong><\/td>\nGirl Scout's<\/strong><\/td>\nStarbucks<\/strong><\/td>\nCinnabon<\/strong><\/td>\n<\/tr>\n<\/thead>\n
3<\/td>\n3<\/td>\n3<\/td>\n9<\/td>\n<\/tr>\n
3<\/td>\n3<\/td>\n3<\/td>\n3<\/td>\n<\/tr>\n
3<\/td>\n3<\/td>\n3<\/td>\n3<\/td>\n<\/tr>\n
3<\/td>\n1<\/td>\n1<\/td>\n1<\/td>\n<\/tr>\n
3<\/td>\n3<\/td>\n9<\/td>\n9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n
Practice Exercise<\/header>\n
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\n\nAnswer this practice question about the cookie design team's assessment:\n\n<\/div>\n
The original version of this chapter contained H5P content. You may want to remove or replace this element.<\/div>\n
Occasionally, ranking numbers besides 1, 3, 9 are used by different entities. In ME design, we ONLY use 1, 3, and 9 for ranking.<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Practice Exercise<\/header>\n
\n\nWatch the following interactive video:\u00a0 \u00a0<\/span>Developing a Deep Understanding of the Customer - Tools and Methods<\/span>\n\nThe original version of this chapter contained H5P content. You may want to remove or replace this element.\n\n<\/div>\n<\/div>","rendered":"
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Research Market Competitors – Benchmarking<\/span><\/h2>\n

In researching the market, your team needs to understand the customer’s experience(s) with existing products on the market. These competitors are then assessed using CRs. The idea is for your design team to understand the customer’s current experiences, or what products they are using to satisfy their requirements. This gives the opportunity for your design team to see what kind of product you can design to better satisfy the customer, so you can capture the market!<\/p>\n