What to ask about your Product?

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?
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