Define whole products to dominate target segments or entire markets
“Your whole product encompasses everything you deliver, including features, price, support and the shade of red on your packaging.”
Guy Smith, Silicon Strategies Marketing
Objective: Create products that meet most of your target market’s expected outcomes.
Benefits: Eliminate competition by eliminating them as viable alternatives while making your products easy to buy.
Silicon Strategies Role: Research and map customer needs, preferences and expected outcomes that are unmet in the market to define your whole product.
A whole product creates a compelling reason to buy. By defining and creating whole products, you make products easy to buy. This expedites sales and blocks competition.
Often there is a large difference between the product you have and the whole product that fulfills customer desires. Most companies and new products err by designing incomplete solutions for the entire market, and not whole products for key market segments.
Whole product strategy begins with defining and prioritizing your market segments. Once prioritized, deeper research into the perceived needs, expected outcomes and buyer preferences of that segment begins. The end goal is to address every preference, need, question and concern buyers have.
Gaps between generic products and a market-satisfying whole product can be addressed in a number of ways:
- Build: Add required features to your product
- Buy: Acquire technology to complete the whole product
- Partner: Augment with other companies’ products and services
- Ignore: Explain why the customers’ concern is not critical
Silicon Strategies Marketing consultants guide you in defining your whole product, and can help with research. Our consultants work with your marketing and executive teams to define and segment the market, then investigate compelling expected outcomes that buyers want, including outcomes that are not specifically product features.