If you want to make a perfect differentiation for your product, consider more than just the generic functions of the product; go beyond what the competitors might think.
Regarding the product differentiation. These days, companies are putting efforts into providing tangible and intangible services to satisfy the customer’s expectations. Many times, customers’ expectations might go way further than what you have planned for. Companies should differentiate their products by understanding and fulfilling customer expectations beyond the generic features. Consider aspects such as delivery, terms, support efforts, and new ideas. Meeting and exceeding these expectations can create a positive perception of your product. Augment the Product Thoughtfully.
In line with Theodore Levitt’s article in Harvard Business Review, I grasped 5 essential differentiation strategies that can help marketing managers succeed in their campaigns and strategies. As far as the article goes, the primary focus of customer-centric design in differentiation is creating value for customers and building long-term relationships.
Five Principles of Differentiation Strategies
1-Understand and Exceed Customer Expectations
Differentiate your product by understanding and fulfilling customer expectations beyond the generic features. Consider aspects such as delivery, terms, support efforts, and new ideas. Meeting and exceeding these expectations can create a positive perception of your product.
2-Augment the Product Thoughtfully
Differentiate by going beyond customer expectations through thoughtful augmentation of the product. Introduce features or services that customers may not have anticipated, providing added value. This could involve innovative enhancements, support services, or unique applications.
3-Implement Customer-Benefiting Product Augmentation
Establish a systematic program of customer-benefiting product augmentation. Focus on features or services that enhance customer satisfaction, addressing their needs and preferences. This approach contributes to customer loyalty and long-term relationships.
4-Effective Management of Marketing Process
Utilize effective management practices to differentiate your product. Whether through brand, product, or market management, focus on how well marketing is managed. Analyze market dynamics, stay aware of customer behavior, and continually seek new ways to influence buyers.
5-Continuous Innovation and Adaptation
Foster a culture of continuous innovation. Regularly assess market conditions, customer preferences, and competitive forces. Adapt strategies based on economic conditions and changing customer needs. Innovate not only in product features but also in the overall marketing process.
These principles emphasize a customer-centric approach, strategic management, and a commitment to ongoing innovation. Implementing these practices can help businesses stand out in the market, create a competitive advantage, and avoid the commodity trap.