Wednesday, May 30, 2012

If your product or service is so great, why are there not many takers for it?

In spite of the hundreds and thousands of books and articles being written about marketing these days, the average small business owner is still not very clear about what marketing is and its true purpose. Let me see if I can reduce all the marketing knowledge down to its basics for everyone's benefit. I will use as few words as I possibly can in attempting this exercise. I will also describe the fundamental marketing problem of product or service adoption. In the end, I will provide some recommendations on how to increase product/service adoption. First, three basic questions: 1.Let us say you know of a population of people with a specific set of common needs and wants 2.Let us also assume that you know what these needs and wants are 3.You also have something that meets their needs and wants Three follow-up questions: 1.Does that population of people know its needs and wants? 2. Do they know of your solution? 3.If they do, why are they not going for it? If they know their needs and wants and have been presented your product or service but are not going for it, then it could be because: 1.They are not able to make the connection between their needs and your solutions 2.Your solution meets their needs but not their want 3.They do not approve of your solution because your solution conflicts with their value system 4.Your target customers’ existing mental models of what a solution should look like do not match your solution To ensure that your target customers actually adopt your product or service, remove the barriers to product/service adoption by: 1.Connect the dots for your customer 2. Identify and fulfill needs AND wants 3. Identify sources of misperception and eliminate them 4. Identify faulty mental models and correct them 5.Offer your customers a tiered cost structure

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