The questions that marketers should take into consideration with any product/value offer are:
What defines this product? – The needs of buyers and users. Customers do not buy ‘products or services’ – (goods or services), they buy the entire value offer. They buy the benefits a product provides them with. They buy offerings consisting of goods, services, information, personal attention and other components.
- What are the values sought from this product?
- What defines ownership benefits in this product? Is it just physical possession?
- What levels of tangibility and intangibility does this product have? (e.g. religion V bricks)
- How easy is it for customers to comprehend/understand the benefits associated with this product?
- How difficult is it to standardise the delivery of value in this product?
- How much customer interactivity/co-creation (high/Low involvement) is needed? Self Service; Bespoke; Co-design? (see the following topic)
- What level of physical separation exists between Provider and User? Closeness during the exchange
- What level of technical/professional skills/knowledge is required to achieve value for the user?
- What level of specialisation is required to achieve value for the user?
- How perishable is the product?
- To what extent is the product an essential or postponable decision for the buyer?
- How difficult is it to manage supply and demand?
- To what level is personal reputation involved in creating and delivering value?
- Is the duration (involvement) in supply short or long? (From issuing a ticket to providing a meal or an ongoing service like personal care?)
- To what extent does the (type of) supplier organsation have any impact on the value a customer perceives?