why perfection is a hopelessly imperfect strategy (products)
DESCRIPTION
Traditionally, companies have tried to make a product perfect in all aspects, to gain mind and market share. While the intent in itself is noble, the outcome usually was far from the stated goal. Delayed Product Launches, Positioning Nightmares, Confused Segmentation and consequently Unhappy Buyers became the norm. In this session, that draws parallels from real life, the presenter attempts to address this complex issue with a simple framework. This strategy aims to addresses define five key parameters of a product - price, service, access, quality and experience - and prioritize them into three relationship levels that the company seeks to have with the buyer. WHY IMPERFECTIONS MAKE A PERFECT PRODUCT RAJESH SOUNDARARAJAN | TWITTER: @RAJESHSOUND LINKEDIN: SG.LINKEDIN.COM/IN/RAJESHSOUNDTRANSCRIPT
WHY IMPERFECTIONS MAKE
A PERFECT PRODUCT
RAJESH SOUNDARARAJAN | TWITTER: @RAJESHSOUND LINKEDIN: SG.LINKEDIN.COM/IN/RAJESHSOUND
IMPERFECT PERFECTS THROUGH HISTORY
“HAVE NO FEAR OF PERFECTION - YOU'LL NEVER REACH IT.” ― SALVADOR DALÍ
“TO BANISH IMPERFECTION IS TO DESTROY EXPRESSION, TO CHECK
EXERTION, TO PARALYZE VITALITY.” ― JOHN RUSKIN, THE STONES OF
VENICE
“ORDINARY IMPERFECT PEOPLE, ALWAYS CHOOSE SIMILARLY IMPERFECT PEOPLE
AS FRIENDS.” ― HARUKI MURAKAMI, BLIND WILLOW,
SLEEPING WOMAN
WHY THEN, SHOULD A
PRODUCT BE DIFFERENT?
A PRODUCT IS, BUT A MICROCOSM
OF ITS UNIVERSE.
LIKE THE UNIVERSE, IT HAS ITS
UNIQUE CHARACTER AND COMPLEX
RELATIONSHIPS.
“THE MORE SHE TRIES TO BE
PERFECT-AT-EVERYTHING, THE
MORE UNNATURALLY-IMPERFECT
SHE APPEARS”
A PRODUCT WITH ALL ITS IMPERFECTIONS
CAN JUST BE AS PERFECT
"BETTER A DIAMOND WITH A FLAW THAN A PEBBLE WITHOUT."
—CONFUCIUS
A PRODUCT HAS FIVE
CHARACTERISTICS -
THAT ENGAGE A BUYER
1. PRICE
2. SERVICE
3. ACCESS
4. QUALITY
5. EXPERIENCE
THREE RELATIONSHIP 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 - FAVORED + DESIRED
HUMANLY IMPOSSIBLE TO “BE
DESIRED” ON “ALL FIVE
CHARACTERISTICS”
TO FOCUS WISELY ON RIGHT
PRIORITIES IS THE KEY
PRICE?
THERE IS ONLY ONE PRICE - HONEST PRICE. AND
THAT IS THE PRICE A BUYER THINKS IS RIGHT.
SERVICE?
BASIC LEVEL OF SERVICE IS EXPECTED. HOW
FARTHER WOULD YOU GO?
ACCESS?
HOW EASY SHOULD IT BE TO ACCESS AND
NAVIGATE BOTH OFFLINE AND ONLINE?
QUALITY?
CONSISTENTLY GOOD OR ONE-OFF-BEST? GOOD
ENOUGH IS GOOD ENOUGH FOR MOST.
EXPERIENCE?
INTIMACY MATTERS. BUYERS DEMAND RESPECT
AND BEING CARED FOR.
TOGETHER THEY DEFINE A
ENGAGEMENT PLAN AND HENCE THE
PRODUCT STRATEGY
PICK YOUR BATTLES
THE BEST IS THE ENEMY OF THE GOOD - VOLTAIRE
CHARTING A PRODUCT STRATEGY
CHARTING A PRODUCT STRATEGY
A PRACTICAL PLAN IS BOUND TO HAVE CERTAIN
IMPERFECTIONS.
“DON'T POINTLESS THINGS HAVE A PLACE, TOO, IN THIS FAR-FROM-
PERFECT WORLD? REMOVE EVERYTHING POINTLESS FROM AN IMPERFECT LIFE,
AND IT'D LOSE EVEN ITS IMPERFECTION.”
― HARUKI MURAKAMI, SPUTNIK SWEETHEART
WE ARE PERFECTLY PERFECT, WITH
IMPERFECTIONS
REMEMBER, THE PERFECT 5x3 PLAN
IS A PRACTICAL IMPOSSIBILITY
MORE @SLIDESHARES FROM @RAJESHSOUND
- SIX THINGS TO REMEMBER WHILE WRITING FEEDBACK
- SIX THINGS TO REMEMBER WHILE RECEIVING FEEDBACK
- 8 SELLING SINS
- 8 SELLING VIRTUES
WHY IMPERFECTIONS MAKE A
PERFECT PRODUCT
RAJESH SOUNDARARAJAN | TWITTER: @RAJESHSOUND LINKEDIN: SG.LINKEDIN.COM/IN/RAJESHSOUND
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