why perfection is a hopelessly imperfect strategy (products)

Download Why Perfection is a Hopelessly Imperfect Strategy (Products)

Post on 23-Aug-2014

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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/RAJESHSOUND

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  • 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 DAL
  • 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 IF YOU LIKED THIS, PLEASE NOW AND HELP YOUR FRIENDS