Marketing To Propel Mediocre Products

David Kenyon

What Is The Problem?

New product with limited adoption

Persistent low market share

Consistently missing sales targets

Sales feedback - product is difficult to sell

Why Is This Happening????

× The product is not competitive in the market

× The wrong audience is targeted

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

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

Out of price position relative to the competition/ substitutes

Solution: Alter the product Decrease the price

× Problem:× Expensive× Time Consuming× Competition may also move

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

What Makes A Product Uncompetitive?

Mediocre Products Succeed Every Day

Why? How?

Targeting 101

Have you micro-segmented?

Why do consumers hire your product?

Have you asked, tested and watched consumers interact with your product?

Better alignment with those who value your product

Better sense of willingness to pay

Better insight into competitive landscape

Better idea of seller needs

Targeting Gets Results

1) 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?

5 Steps to Product Problem Solving

Thank You