This refers to what the company - TWD - produces (whether it is product or service, or a combination of both) and is developed to meet the core need of the customer – for example, the need for transport is met with a car.
The challenge is to create the right ‘bundle of benefits’ that meet this need. So what happens as TWD's customer needs change, competitors race ahead or new opportunities arise?
TWD will have to continuously add to its ‘bundle of benefits’, so as, to improve the offering, create new versions of existing products, or launch brand new products.
When improving the product offering - TWD - needs to think beyond the actual product itself; for example, value can be added and differentiation achieved with guarantees, warranties, after-sales or online support, a user-friendly app or digital content like a video that helps the user to make the most out of the product.
No comments:
Post a Comment