ThoughtCommons - Buyer Utility Map

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ThoughtCommons - Buyer Utility Map

  1. 1.
  2. 2. Simply stated, business has just two functions, innovation and marketing.<br />But only the seasoned managers understand the complexity behind this simplicity.<br />Buyer Utility Map help managers break the utility for their consumers and generate innovative ideas<br />
  3. 3. People don’t use products, they indulge in experiences<br />Idea generators need to focus on experiences and not on products<br />
  4. 4. Buyer’s experience can be better understood by dividing it into six stages, these are six differentoccasions where marketers can create value for their buyers<br />
  5. 5. How easy it is to find the product, the attractiveness and accessibility of the store, the level of comfort the speed with which purchases are made.<br />
  6. 6. The speed and convenience of product delivery, the ease of unpacking and installing the product.<br />
  7. 7. What training or expert assistance is required while using the product, ease of storing the product, the effectiveness of the product's features and functions.<br />
  8. 8. Other accessories that are used along with the product.<br />
  9. 9. Ease of maintaining the product and the amount of expert assistance required.<br />
  10. 10. If the product generates waste, the ease of disposing drills consumer’s mind off!<br />
  11. 11. These are called six stages of<br />‘Buyer Experience Cycle’<br />
  12. 12. Thinking ahead, there are six different ways of innovating and creating value in each of these stages<br />
  13. 13. The innovation helps customers do things faster, better or in different ways.<br />
  14. 14. The innovation offers enhanced ease-of-use.<br />
  15. 15. The innovation makes a desired activity easier to perform.<br />
  16. 16. The innovation minimizes customers' financial or physical risks.<br />
  17. 17. The innovation delights customers. <br />
  18. 18. The innovation facilitates recycling and other environmentally sensitive practices.<br />
  19. 19. These are called six<br />‘Utility Levers’<br />
  20. 20. This approach help managers think of 36 opportunity types to create value for buyers…<br />
  21. 21. Buyer Utility Map<br />
  22. 22. So what’s your next big idea?<br />Source:<br />Kim, W. Chan and Mauborgne, Renee; "Knowing a Winning Business Idea When You SeeOne"; Harvard Business Review; September-October 2000.<br />

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