Save model of marketing
In my article on the 4 P's of marketing, i discussed about them in detail. Also the problems encountered using this approach were highlighted. In this post, i'll be telling you the solution to these problems popularly known as S.A.V.E.
S.A.V.E.
If Eduaro Conrado, Chief Marketing Officer for Motorola, is to be believed, S.A.V.E. framework is a unique offering for businessmen of every field. Motorola used S.A.V.E. and said that it's a very restructuring technique for the market and the organisations as well.
1. Emphasis on SOLUTION rather than the PRODUCT
The product you developed has been launched in the market. You got loads of appreciation and praises, a bag full of awards. But a few days or even months from then your product lost all the attraction it had gained, it's aura diminished and the consumers were bitter mouth about it. You analyse the situation. Observations are made. Finally you conclude that your product had some issues, failures or faults with it. They may or may not have been visualised first, but now the masses largely speaks of them. Will the customers buy the product again? NO. If you provide the solution to them at the earliest, there are good chances of them going back home happy and buying your product again. The market experts says that to build a successful product, never ever add unnecessary features or tweaks to them. Keep your product simple. The customers will never buy a product or care for it's features if it fails to solve his problems.
"Your product should be the solution to the consumers problems and not a problem for the consumer himself."
If this is the case then pal, you are on the wrong direction. And you really really need to redesign your strategies or plans.
2. More importance to ACCESS instead of PLACE
We live in a world where the business is feasting on high speed internet, mobile phones etc. This makes the Place look tiny in front of Access. People now a days have access to almost anything and everything. When Google and Wikipedia are at your disposal, you are undoubtedly the superiors one in terms of knowledge. A simple click of the mouse or a tap on the phone. The product gets delivered to you. This is where Access beats the Place. At a specific and precise moment, when you are in terrible need of a product, access would be your solution and not the place. This has become one of the harsh truths of Market.
"Customer wants accessibility and support at their doorstep and not at that of the organisation!"
To achieve this, you must steal the most precious gift a customer can give you, his attention and use it in your favour. Show him that you offer feedback, support and help, whenever and wherever they require, through every possible mean they could aspire for and BANG! You are ready to rock and roll!
3. Focus on VALUE and not PRICE
There lies a very clear difference between value and product. While many still believe that they are the same, but from a marketers point of view you are Wrong. Price is what you pay for a good, product or services. "When I say the product is too expensive, i simply mean that it's over priced. It would be incorrect of me to say that the product is expensive because it offers me a high value." That would be a very, very wrong notion. Value is perceived as what the customer could gain from the product or how much the product helped the customer to achieve success and recognition. A high priced product can give you low value and vice versa. Researches show that if customers feel content, happy and satisfied by your product, they feel that the product is valuable, it adds more value to their respective business, no matter what price you choose for your product they would always come for it. The customer would simply not care about the product(a link here) being Overpriced. This is where the 4 P's of marketing fail and should be avoided.
4. EDUCATION, an alternative to PROMOTION
A happy customer always come back for more. The trick is that not only your product makes the customer happy, what makes him happier is the information you give him, which he could use it for his own benefit. Providing someone with free, meaningful and useful information and you could see that it would make wonders! This exchange of data instantly creates a bond between the customer and the producer which is much stronger than that created by the Marketing Mix technique of Promotion.
Today's entrepreneur just need that one opportunity that could make him more famous and successful in the target audience and what better way could be there than this. Once you become a part of the customers cycle there is no going back!
CONCLUSION
The voice of customer in today's customer-producer relation is more loud than that of the latter. It's high time for every businessman, entrepreneur or organisation to understand this and use the S.A.V.E. approach, albeit don't discard the 4 P's theory completely. Right blend of two, with the perfect marketing toppings could make you the king of market!
That's all for this article! See ya next time! AND. Happy Reading! :D
Recent Comments
1
Price is really not a big factor. People will pay for perceived or genuine value. They'll pay for what they want, or what you can convince them they want - or need.