Original post : Oct 5, 2009 Marketing Myth #3: You have to have the best product to be number oneDoes the best product always win the most business/customers? A popular marketing buzzphrase is USP - unique selling point or proposition - but do buyers really seek uniqueness? It is easy to get hung up on uniqueness and differentiation in your product or proposition, to the detriment of other aspects of the customer experience. Or, in other words, by not getting the basics right in meeting customer needs/wants. Most famously when people talk about battles between products they cite Betamax vs VHS. Sony's Betamax format is claimed to be the better technology, while JVC's VHS won the war for dominance by simply making it easier for the customer to get hold of and use their product. Sony believed, I don't know why, that higher quality recordings would be the key to commercial success for Betamax. Whereas JVC recognised the public's attraction to being able to watch films at home whenever they wanted - and gave them what they wanted. Meeting consumer needs - the bottom line of marketing! Betamax vs VHS may be an extreme example. But it illustrates the point that you need to understand your customers well in order to meet their needs. Although this may be easier than it sounds as their needs might be quite simple. In their book, Simply Better (http://www.simply-better.biz/), Patrick Barwise and Sean Meehan argue that the emphasis on differentiation has gone too far, and that all customers really want is a quality product, reliable service and value for money. If you can deliver these consistently better than your competitors then you have the advantage. They believe that while unique might be exciting and appealing, it doesn't drive business success. It's a controversial position, and not without its dissenters among marketing academics, but it is an attractive one for small businesses as it encourages focus on small improvements and innovations that are within your influence. At the core of your product you may have a technology or process that is no different to anyone else, but concentrating on the things you can control, from initial contact to invoicing and after sales, can be where you score your winning points. You should never be complacent or lazy to keep on innovating, never too proud to ‘borrow' ideas from others, and never underestimate how that small change might translate into a big advantage. Question every aspect of delivering your product or service and ensure that you do each step to the best of your ability - and while your product may not be the number one in the market, you will increasingly delight your customers and be sure to stand out from the crowd. CommentsTotally agree with Sharon here. It's extremely important how we treat our customers, and of course customer service could be said to be part of the product offering - the thing that differentiates you. For example, in my yoga classes, part of my product is being cheerful, remembering people's names, asking them if they've had a good week, making sure I have enough change with me, making sure there are enough mats and does the heating work? Sure the product could be said to be the yoga class plan. But it's the soft items around this that will keep people coming back or put them off. If the heating doesn't work, they won't come back - this is exactly what ensured the demise of one of my classes in a freezing church hall! Small businesses beware, it's the bits around the edges that often count the most. And my big maxim - people always buy from people they like! | Past BlogsSocial Networking - what's in it for businesses?Jul 6, 2010 17:45 Are you charging enough?June 10, 2010 11:01 Using PESTLE in your marketing planMay 12, 2010 15:01 Why bother with a marketing plan?Apr 15, 2010 15:45 What business are you in?Mar 11, 2010 15:10 Marketing Online - Should You Do it Yourself?Feb 11, 2010 18:40 Marketing Myth #7: the lowest price will always winJan 12, 2010 9:21 Marketing Myth #5: Marketing is Expensive - except on the InternetNov 9, 2009 15:22 |


