by Value delivery is the manner in which you design your products such that it gives maximum value to the customer using it. The value delivered to customers can be in the form of products, benefits, attributes etc. Anything which creates value for your customer should be involved in your value delivery process.
If you were to ask your parents in India whether they had air conditioners 3 decades back in their childhood, the answer will probably be no. India had just become independent and it was still a developing albeit struggling nation.
Strategies:
1) Choosing which value is most important to customers
Today in the value delivery process, the customer is at the center of attention and the products and services are designed keeping the customer in mind. Thus, the value delivery process is correct from the start wherein the product itself is chosen based on its value to the customer. The products which are not valuable are phased out from the start.
2) Delivering the value
Forming a strong marketing strategy, placing the marketing mix, finding the target markets and other such tactics are ways by which delivering the value to the customer has become easier. Marketing as a career itself has evolved whereby many companies are closely watching the strategies being implemented by their marketing department. Thus, delivering the value has become easier.
3) Communicating the value
Once the value delivery process is designed, it is important that you communicate the value to the customer. Today there is a lot of noise and customers do not pay attention to a message unless it is repeated over and over. Thus forming a promotion mix and ensuring that the customer does not overlook the value being delivered is important.
Thus over a period of time, customers have evolved to form the base of the value delivery process. With the advancement of technology, we can be sure that the value of products will only increase instead of decreasing, the product development function will evolve even faster and give unthinkable innovations and developments from current age products. Thus, you need to look at your business and decide is your value delivery upto mark.
Upstream marketing
Upstream marketing refers to the strategic process of identifying and fulfilling customer needs. Upstream marketing takes place at a much earlier stage by developing a clear market segmentation map and then identifying and precisely defining which customer segments to focus on. It analyzes how the end-users uses the product or service and what competitive advantage will be required to win the customer and at what price point. It is done very early in the product or service development cycle, and is one of the missing links for generating revenue growth at many companies.
Strategies:
Analyze trends
Analyze trends provides great insight into the future needs of customers. Some trends to analyze include considering what products or services sell, looking at your competitors and identifying the growing popularity of certain items. Trends are statistical and factual which makes them reliable. Implement this information in your decision-making and refer to it later in the future to see how it impacted your business.
Focus on growth
Upstream marketing assumes the long-term success of your company. Focusing on growth considers what products or services could contribute to expansion. Upstream marketing thinks ahead and predicts future needs. Focusing on growth includes growing your customer base, your company and the number of products and services you offer. For example, you might want your company to offer an upgraded version of your product overseas, therefore reaching more customers.
Create a timeline
Creating a timeline helps you plan the timing of achieving certain goals. Timelines include specific dates that correlate with company goals and help create an attainable action plan. Timelines are an easy way to simplify steps while still maintaining daily structure. They map out the future in a visual manner that is easy to understand for everyone involved. A timeline is also motivating because the result is noted.
Survey your customers
Upstream marketing considers the future needs of the customer. The best way to know what these needs are is by speaking directly to the source. Surveying your customers gives you a better idea of what they need and allows them a chance to share their thoughts. Some ways to survey your customers include social media polling and in-person interviewing.
Think of innovative ideas
A primary characteristic of upstream marketing is innovation. Innovative thinking is brainstorming in a new and refreshing way. Consider products or services not yet made and customer needs not yet met. Innovative thinking creates effective solutions through a new perspective.
For example, a company produces a phone app that tends to a customer desire not yet addressed by other products. This could be a brand new app on the market or an updated version of an existing app. The characteristics of upstream marketing lie in the concept of creating this new idea as a long-term goal and the intention to help customers in the future.
Evaluate the market
Evaluating the market, what products it has and where it is going is crucial for upward marketing planning. To strategically design future products, services and solutions, you first study the market. Some aspects to consider include the urgency of products and what pricing looks like. Much of market evaluation assesses potential. For example, the potential of a product to succeed or the potential for a product to continue selling after a long period of time.
