We all know how dynamic the Mobile market is getting & we have many new players entering the game. The new game changers in this space are Mi & Motorola.
So what makes a product succeed in a new market?
How brands can make a comeback?
How Engaging with Customers is becoming a must
for Brands?
It’s well said - “Have no fear of perfection – you’ll never reach it”.
In
today’s diverse market you can’t have a product for all. So be very clear with
your Target Group & Market them the products with a strong message. Remember
– Customers are Smart, so win their heart first the mind will be automatic taken
care.
A product has 5
characteristics that engage a Buyer
1. PRICE
2. SERVICE
3. ACCESS
4. QUALITY
5. EXPERIENCE
PRICE:
There is only one price – Honest Price & that is the
price a buyer things is right
SERVICE:
Basic level of service is expected. The question is how
farther would you go?
ACCESS:
How easy should it be to access and navigate both offline
& online?
Quality:
Consistently good or one off best ? Good enough is good enough for mostEXPERIENCE:
Intimacy matters. Buyers demand respect and being cared for
Three customer relationships
levels – that define the depth of a buyer engagement:
(LEVEL 1):
Be considered little effort to maintain loyalty
(LEVEL 2):
Be favored – Deeper Engagement – Favored over
Competition
(LEVEL 3):
Be desired. An Ideal state – Favoured + Desired
“Together
they define an Engagement Plan & hence the Product Strategy”
Look at the below 2 charting a Product Strategy
So go back & have a look at your product strategy – Don’t
try to perfect it as a product with all its imperfections can just be as
perfect.
