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David kenyon Marketing to Propel Mediocre Products pca9


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One doesn’t always get to design a killer product or a great service offering. There are several instances where product marketing gets stuck with a mediocre product and is expected to make it successful. What key steps must organizations take to ensure its adoption and success in the market place. How can companies leverage these experiences to design the next product/service?

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David kenyon Marketing to Propel Mediocre Products pca9

  1. 1. David KenyonMarketingTo PropelMediocreProducts
  2. 2. What Is The Problem?  New product with limited adoption  Persistent low market share  Consistently missing sales targets  Sales feedback - product is difficult to sell
  3. 3. Why Is This Happening????× The product is not competitive in the market× The wrong audience is targeted
  4. 4. What Makes A Product Uncompetitive? Features/benefits are either less interesting to customers or disadvantaged relative to the competition Solution:  Add necessary benefits and features× Problem: × Consumers still may not value product × Lingering perception
  5. 5. What Makes A Product Uncompetitive? Implementation or manifestation of product is lacking Solution:  Invest additional R&D to decrease complication× Problem: × Expense/Time × Solution may not exist
  6. 6. What Makes A Product Uncompetitive? Out of price position relative to the competition/ substitutes Solution:  Alter the product  Decrease the price× Problem: × Expensive × Time Consuming × Competition may also move
  7. 7. What Makes A Product Uncompetitive? Ignores key attributes of sellers: margin, incentives, knowledge Solution  Add RSA spiffs, sell-out rebates  Invest in training× Problem: × P&L Impact × May not change customer perception
  8. 8. Mediocre Products Succeed Every Day Why? How?
  9. 9. Targeting 101 Have you micro-segmented? Why do consumers hire your product? Have you asked, tested and watched consumers interact with your product?
  10. 10. Targeting Gets Results Better alignment with those who value your product Better sense of willingness to pay Better insight into competitive landscape Better idea of seller needs
  11. 11. 5 Steps to Product Problem Solving1) Do I understand my customers?2) What is my target segment?3) Does my product need an overhaul?4) Do I need to reposition my product?5) Do I need to retarget my marketing efforts?
  12. 12. Thank You