Eko Innovation Product school APM course material

1. What is a Product?
Adetoun
Ogunbowale
2020

2. AGENDA •What is a product?
•Types of product
•Product Value
•Product Benefits
•Product Features
•Product Classification
Know your product 2
4th October, 2020
October
2020

3. WHAT IS A PRODUCT?
Know your product 3
October,
2020

4. Know your product 4
A products could be goods or
services that offer benefits and
satisfy customer needs in
exchange for monetary values.
It could be for attention,
acquisition, use, or consumption.
PRODUCTS
October,
2020

5. Know your product 5
Types of Product;
1. Items
(Tangible)
2. Services
(Intangible)
October,
2020

6. Know your Product 6
o A valuable product is often perceived by customers
to be able to meet their need or solve a problem
o Customers would pay any amount for product that
gives value
o A good product would give more values and exceed
customers expectations
Product Value (Why buy this?)
October,
2020

7. Know your product 7
✔ Product features show what your product does
✔ For your product to scale, it must provide essential
features that customers consider beneficial
✔ It is important you understand your customers. This
will help to create features that makes their
experience with your product lovable and easy
✔ Features must be easy to use and give customers
reasons to come back
Product Features (What makes it better?)
October,
2020

8. Know your product 8
❑ Benefits are the outcome and result that the customer
will experience by using your product i.e. the reason
why a visitor converts into a customer.
❑ It must satisfy the customers need
Product Benefits (What does it do?)
October,
2020

9. Know your product
9
Product Classification October,
2020
Customer Type
(B2B, B2C or B2B2C)
Purchasing
Behaviour Business Product
Industry

10. Know your product 10
“Great products sell
themselves”
-
Kevin Systrom
October,
2020

11. Know your product 11
Classroom Exercises
1. List 5 products you love
2. List their competitors
3. Identify 5 things their competitors are doing differently
and what they are offering
4. Tabulate both products benefits, advantages and
features
5. Pick your most favourite product from either of the list
and explain why?
October,
2020

12. Know your product 12
Q&A
October,
2020

13. THANK YOU!
2020