You will want to break your answer into two parts. First, discuss what a SWOT analysis is and how you perform one. Second, talk about how to conduct a technical feature-by-feature competitor comparison.

"My first step in conducting a competitive analysis is to do a SWOT analysis to determine our market positioning. From there, I can work with my team to create appropriate sales and marketing language. My next step is to create a report comparing our product to similar competitor products, allowing us to see where our competitors are falling short. Those are opportunities for us. In order to ensure a successful product launch, my team and I examine both the technical and business aspects of the product."