The SmarterNewBusiness approach to product excellence centres on effective positioning of the benefits delivered to the buyer. Rather than focus on technical product management, the approach looks at benefits particular buyers are looking for when they buy solutions that you deliver.
Understanding how groups of buyers derive value - what it means to their jobs, their organisation and the challenges / pains they encounter - helps formulate an end-to-end view of your product / service.
An end-to-end view brings all components of a solution into sharp relief. This guides overall positioning, pricing strategy, promotion, distribution and development plans.
How it works:
The approach can reinvigorate under-performing products and services:
- It can bring to life benefits of existing function that have been previously underplayed in promotion and sales.
- It can identify new markets and prospects
- It can identify potential value-added partnerships - opening up relationships and access to new customers / revenue streams
Smarter Product Management helps you to objectively understand whether your products/services – and their positioning - are enough to meet the ever changing demands of your consumers.
It will provide you with well considered and precise recommendations on how you can improve.
The approach can also help you recover sunk costs and turn it into cash - by reviewing your past and existing product / service developments it is possible to identify potential sources of Research and Development Tax Relief.