The core of this step is: difficult to imitate + systematic

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When analyzing consumer needs, please keep in mind this underlying formula: benefits (functional value + emotional value) - costs (monetary cost + time cost + energy cost + trial and error risk).

After all, consumers care about different things for different needs. Just like when buying insurance, consumers’ perception of benefits is delayed (the product is complicated and they often don’t know whether it is good or not until they are in danger), so consumers are often more willing to choose big brands to reduce the risk of trial and error.

Step 2: Benchmark your fantuan database competitors and find your differentiated advantages

After finding the demand breakthrough and determining the target market through the previous analysis, we should start to look for our own differentiated advantages, which are also the competitiveness of our target market. The core of this part is to compare the advantages and disadvantages of our products with those of our competitors, and to make the best use of their strengths and avoid their weaknesses. We can start from the 4P (product/service, marketing, channel, price) to find them.