Disclaimer Through this research, I want to emphasize that I try to make it objective and unbiased, also in this research, I do not cooperate with companies and related companies. Some findings might be incomplete or inaccurate purely from my findings.
UX Research Purposes I get a chance to get involved to do UX Challenges Competitive Analysis held by uxtools.co. I got a task to build a new mobile app that helps people buy and sell stocks commission-free and to create competitive analysis with similar products from competitors. This research challenge aims to hand out new perspectives to stock trading/investing companies or to those who are planning to start building stock companies and also to readers.
Competitors To find competitors, I did a few different searches on Google which yielded many results. Furthermore, I chose products that I have used and some random products that I would try to download and use. So here I found several companies that I feel compatible with my research : - Stockbit (Mahakarya Artha Sekuritas) - Ajaib (Primasia Unggul Sekuritas) - Bareksa - IPOT (Indo Premier Sekuritas) - Post Mobile 4 (Panin Sekuritas)
Since the challenge is to focus only on stock, I go for four direct competitors and one indirect competitor. With this information, I can properly prioritize:
Direct Competitors: - Stockbit (Mahakarya Artha Sekuritas) - Ajaib (Primasia Unggul Sekuritas) - IPOT (Indo Premier Sekuritas) - Post Mobile 4 (Panin Sekuritas)
Indirect Competitor: - Bareksa
Competitive Analysis I use the following data in the spreadsheet per May 24th, 2022:
https://docs.google.com/spreadsheets/d/14HIGk-DrWM7xF7Svk2IXkdBLE4fnkFJ6_1TX246EEfc/edit?usp=sharing
SWOT
Perceptual Mapping According to uxplanet.org article perceptual map is a useful tool to help companies evaluate what their customers think about them and their competitors. This can help businesses track market trends, identify gaps in the market, and develop branding and marketing strategies. However, this tool is limited to two variables so we cannot decipher other factors.
Conclusion
I would also include major takeaways, which I found appealing and exciting. For example, I found it very interesting that Bareksa has zero commission fee and it has 4.8 ratings which are the highest amongst other applications. In addition, Post Mobile 4 user rating is only 41 people which results in 3.2 which is the lowest one.
References:
https://www.justinmind.com/blog/mobile-navigation/ https://dscout.com/people-nerds/conduct-a-competitive-audit?ref=uxtools challenges https://uxstudioteam.com/ux-blog/competitor-analysis/ https://clevertap.com/blog/heuristic-evaluation/ https://is4-ssl.mzstatic.com/image/thumb/Purple122/v4/2a/d9/a9/2ad9a9a6-7241-a2dd-2b82-2984d338f40e/source/512x512bb.jpg https://images.bareksa.com/logo/1.0.0/default-image-news.jpg https://media.suara.com/pictures/970x544/2021/12/02/74274-ipot-error.jpg https://mandiri-investasi.co.id/wp-content/uploads/2021/11/ajaib-PNG.png https://images.glints.com/unsafe/glintsdashboard.s3.amazonaws.com/company-logo/d1d54e81e498c955d8c60b4d979e3e12.jpg
