Today we are going to discuss one issue businesses and entrepreneurs grapple with, should their focus be on creating and selling a product with great features or should the development and branding of their products be tied to the ‘needs’ of the target market.
It is very easy to fall into the trap of believing you know what the market needs based on your experience (not saying ‘experience’ isn’t vital in product development and marketing).
First of, let’s define each of the terms in our topic for today.
[highlight1]Product-centric[/highlight1]: Placing emphasis on the product and it features, trying to sell it to as many people as possible. A one size fits all approach. A product centric business focuses on the products it brings to market rather than the customers that buy those products.
[highlight1]Customer-centric[/highlight1]: The focus is on the needs of the customer, product development and marketing is targeted and showing each customer how his/her life gets better by using the product/service. This is done by creating a positive consumer experience at the point of sale and post-sale.
Research shows that Customer-centric companies stand the test of time, examples are the likes of Apple and Coke. These companies are known for selling ’emotions’. Making your company/product more customer centric results in you having more loyal customers.
Make sure you listen to this episode and share your feedback.
Get closer than ever to your customers. So close that you tell them what they need well before they even realize it themselves.
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Hi Afropreneurs, Welcome to Episode 2 of The Afropreneur Show. On this episode we tracked down [highlight1]Lemi Ghariokwu[/highlight1] (you can read all about him here) and had a ‘lengthy discussion’ with […]