Research existing products (IoT and non-IoT) that perform similar tasks as your team’s smart device concept. Summarize the features of 3-4 competing products, and analyze the competing products to identify opportunities to make your team’s smart device innovative compared to the competition.
IMPORTANT: If your research and analysis reveals that your team’s smart device concept will NOT be unique or an improvement over existing solutions, your team will need to revise your concept or select a different concept from your list of ideas.
Gather information to summarize the following for each competing product:
What is the product's name and its specific context of use? (include product image)
What are the key functions and features of the product?
What are the key parts (inputs, outputs, etc.) that the product uses to perform its tasks?
Does the product use an internet or network connection to send or receive data with apps, databases, or other devices? If so, what functions or features does this provide?
What are the strengths and weaknesses of the product?
What information sources were used in your research? (include links to sources)
Submit a document or presentation that summarizes each competing product and identifies opportunities for your team’s smart device to be innovative compared to the competition.
Competitive Analysis of Smart Light Product
✓- Below Standard
✓ Meets Standard
✓+ Exceeds Standard
Competitive analysis is incomplete, lacking clarity, or fails to identify opportunities for team to develop innovative solution.
Competitive analysis provides clear, concise, and complete information for 3-4 relevant competing products, and identifies opportunities for team to develop innovative solution.
Competitive analysis demonstrates especially keen or creative insight in recognizing gaps in existing products that the team could address with their solution or other opportunities for team to develop innovative solution.