Product competitiveness and stages of its evaluation

Abstract

In modern markets, the competitiveness of products is directly related to its quality and a number of its properties, focused on satisfying both existing and potential consumer demand. In addition, a product can be considered competitive if its selling price does not exceed the market price, and the quality is not inferior in its characteristics to goods of a similar purpose that are presented on the market. Thus, the competitiveness of products can be interpreted as a characteristic that reflects its difference from a competitor product and as it matches a specific social need, and in terms of the cost of satisfying it. The basis for assessing the competitiveness of products are the results of a study of customer needs and market requirements. Indicators reflecting such a difference characterize the level of competitiveness of the analyzed product in comparison with a competing product or a reference sample. Considering that the needs of a particular consumer are formed under the influence of a certain complex of factors and are marked by an individual character, the estimates of the same product by different consumers may differ from each other. Ultimately, consumers will give different preferences to specific products, their choice from the mass of similar products on the market. The consumer considers the products to be competitive if the ratio of benefit and costs is the largest compared to other products. Consequently, with respect to a particular consumer, the competitiveness of a product is a purely individual characteristic.