Creating the right products and services

Marketing is about delivering value to customers. And you do that by offering them the right products and services with the right features that customers find important, and that perform better than the competition. Hey, as a marketer, you have to give your development team guidance so they build the right product. Here’s how. Start with your product analysis. That’s where you did a detailed comparison of how your product compares to the competition’s feature by feature. You also created the feature benefit ladder that unpacked the product to see how features connect to the benefits customers seek. Now you’ll also need the customer analysis, especially on what factors are most important to customers when they buy a product, as well as how they perceive your brand versus the competition. And finally, you’ll need your value proposition. What claim are you making to the market and what evidence are you using to support it? With this information, you’re ready to tell your development team what products and services are needed. They need three things. First are the features a product or service must have to compete effectively. Hey, they also need to know how well each feature must perform. The most important feature must work better than the competition. Finally, what is the entire customer experience with your product or service? This includes things like customer service in a store and how your products are displayed. It also includes things like the packaging, and perhaps the instructions on how to use the product. Everything the customer comes in contact with, including things online, are a part of the customer experience. Based on their experience, the customer will form beliefs about what your brand stands for, whether it’s consistent, believable, and authentic. Hey, the more authentic, the more loyal your customers will become. And that’s a very good way to build your business.