Corporate Positioning – Workshop 1 (Internal Assessment)
The Appleton Greene Corporate Training Program (CTP) for Corporate Positioning is provided by Mr. Thomson MBA BS Certified Learning Provider (CLP). Program Specifications: Monthly cost USD$2,500.00; Monthly Workshops 6 hours; Monthly Support 4 hours; Program Duration 12 months; Program orders subject to ongoing availability.
If you would like to view the Client Information Hub (CIH) for this program, please Click Here
Learning Provider Profile
Mr Thomson is a Certified Learning Provider (CLP) at Appleton Greene and he has experience in marketing, management and production. He has achieved a Master of Business Administration, Bachelor of Science in Biology & Chemistry and Diploma in Management & Administration. He has industry experience within the following sectors: Medical Devices; Clinical Diagnostics; Biotechnology; Pharmaceutical and Healthcare. He has had commercial experience within the following countries: Canada; United States of America or more specifically within the following cities: Vancouver; San Francisco; Chicago; Toronto and New York. His personal achievements include: extensive start-up experience; successful partnership history; 25+ years in senior management; global sales & marketing experience and expert in strategic planning. His service skills incorporate: value proposition strategy; process improvement; global sales & marketing; continuous improvement and organizational leadership.
MOST Analysis
Mission Statement
This program is aimed at helping companies in the healthcare, medical devices, clinical diagnostics, pharmaceutical and biotechnology industries successfully crack a new market, effectively launch a new product or service, or strengthen their existing value proposition. At the end of the program, participants should be able to implement a corporate positioning initiative that culminates in credible, relevant and distinctive brand promises.
This first month will involve assessment and analysis of product capabilities and possibilities, through interdepartmental communication at the corporate level. Although Marketing will take ownership for the overall implementation and delivery of the value proposition plan, input from all areas will lead to a more cohesive approach towards execution. Suggested start would be with Development for outline of the expectations for the product/service, based on key inputs such as functionality, performance and efficiency. These should be mapped to show expectations against actual deliverables to start to identify where the deficiencies may be and how they should be addressed as part of the overall competitive market plan. Next, alignment with overall corporate strategy should be reviewed to determine if the product is consistent with existing direction of if there is deviation away from overall goals and objectives. If there are, then the task will be to determine if overall objectives were reasonable, given company resources and the competitive landscape. This type of assessment is critical to ensure strong positioning of the value proposition, when considering all aspects of the product and corporate plan. A final step in the assessment will be to determine if product value is linked to either existing products or planned products in the pipeline. If so, allowance will need to be made to articulate this clearly in the proposition plan, so as not to convey any misleading of confusing information to the buyer. Often compatibility with a company’s products is a key benefit within the value proposition and this can be critical feature when looking for that competitive edge regarding product differentiation.
Objectives
01. Internal Analysis: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
02. Define Issues: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
03. Target Setting: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
04. Gathering Data: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
05. Analyze Data: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
06. Preliminary Plan: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
07. Review Plan: departmental SWOT analysis; strategy research & development. 1 Month
08. Test Assumptions: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
09. Issue Resolution: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
10. Implement Solutions: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
11. Monitor Activity: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
12. Continuous Improvement: departmental SWOT analysis; strategy research & development. Time Allocated: 1 Month
Strategies
01. Internal Analysis: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
02. Define Issues: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
03. Target Setting: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
04. Gathering Data: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
05. Analyze Data: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
06. Preliminary Plan: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
07. Review Plan: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
08. Test Assumptions: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
09. Issue Resolution: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
10. Implement Solutions: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
11. Monitor Activity: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
12. Continuous Improvement: Each individual department head to undertake departmental SWOT analysis; strategy research & development.
Tasks
01. Create a task on your calendar, to be completed within the next month, in order to analyse the Internal Analysis process.
02. Create a task on your calendar, to be completed within the next month, in order to analyse the Define Issues process.
03. Create a task on your calendar, to be completed within the next month, in order to analyse the Target Setting process.
04. Create a task on your calendar, to be completed within the next month, in order to analyse the Gathering Data process.
05. Create a task on your calendar, to be completed within the next month, in order to analyze the Analyze Data process.
06. Create a task on your calendar, to be completed within the next month, in order to analyse the Preliminary Plan process.
07. Create a task on your calendar, to be completed within the next month, in order to analyse the Review Plan process.
08. Create a task on your calendar, to be completed within the next month, in order to analyse the Test Assumptions process.
09. Create a task on your calendar, to be completed within the next month, in order to analyze the Issue Resolution process.
10. Create a task on your calendar, to be completed within the next month, in order to analyse the Implement Solutions process.
11. Create a task on your calendar, to be completed within the next month, in order to analyse the Monitor Activity process.
12. Create a task on your calendar, to be completed within the next month, in order to analyse the Continuous Improvement process.
Introduction
This program is aimed at helping companies in the healthcare, medical devices, clinical diagnostics, pharmaceutical and biotechnology industries successfully crack a new market, effectively launch a new product or service, or strengthen their existing value proposition. At the end of the program, participants should be able to implement a corporate positioning initiative that culminates in credible, relevant and distinctive brand promises.
Marketing strategy changes at different stages of the product lifecycle
When a product is introduced, it typically has a high cost due to a low production run and high costs of product development. The marketing team’s focus is on finding early adopters and creating a value proposition for them. With product growth and maturity, the marketing strategy changes, and it occurs again when the product is in decline or being phased out. Throughout the product lifecycle, the marketing of the product is planned to meet the goals and challenges of that stage. Developing a value proposition is of crucial importance during new product development. A value proposition is an assurance from the company that the product will deliver value. It creates a belief in customers about how that value will be experienced and the outcomes it will achieve for them. The value proposition can apply to the product/service, or the entire organization, or a part or parts of the organization.
The product lifecycle involves various professional disciplines
At each stage in its lifecycle, the product needs different marketing, manufacturing, financing, purchasing and human resource strategies. Every stage has its own challenges, opportunities and problems, which must be figured out and adequately addressed during the limited life of the product. Healthcare companies are licensed to provide specific health care diagnosis and treatment services. Although the medical service or procedure does not have a limited life, it must be marketed, improved and perhaps even transformed, to meet the company’s revenue cycle goals, and sustain as the number of local competing hospitals or practices grows. Healthcare providers compete mainly on quality dimensions and less on price. However, research shows that price and quality competition is greater in less concentrated markets. The value proposition in healthcare should focus on quality as well as consider price and expenses, so that an economic advantage can be communicated to the target audience. Robust competition among healthcare providers, healthcare systems and payers can result in better care at lower costs, and most importantly, improve patient outcomes.
Effective corporate positioning set to become a high-level priority
Positioning is a critical aspect of product strategy in retail. Healthcare and allied sectors have the opportunity to create differentiation and compete more vigorously by prioritizing product positioning. This claim is based upon three realities:
– Customers need clarity about value: Knowledge of how using a product or service can deliver the desired outcomes, will propel consumer decisions. The modern consumer is proactive about determining the goal/end state they want to achieve after using a product/service. This is the claim or promise that the value proposition will convey.
– Value creation is everyone’ business: Company departments are more integrated than before. Data siloes are being razed and central data repositories are enabling information-sharing and close collaboration. A holistic approach to product development, service delivery and value creation, improves and strengthens corporate positioning.
– Information channels abound: Companies cannot afford to make claims that don’t bear out for the customer. They risk reputational harm from poor reviews on online platforms. Just as social media, online forums and websites generate brand awareness, they also bring brand weaknesses to light. A strong value proposition distributed online ensures that peers and competitors don’t have leverage over potential customers and help keep customer-brand ties intact.
The need to make adjustments to corporate positioning and value proposition
The value proposition can and should track evolving consumer expectations and the realities governing the business landscape in which the companies operate. A well-defined process that involves all relevant decision-makers in framing the value proposition and changing it efficiently and correctly, is essential.
– The value proposition is dynamic and influenced by macro and micro marketplaces. It must evolve over time to remain competitive.
– Impressions about a company or product usually change during the sales journey. A clear idea of how the product is positioned allows sales and marketing staff to anticipate buyers’ value perceptions and make suitable adjustments over the interaction period.
– Establishing a successful brand-customer relationship requires the commitment of all departments. The value proposition program brings together decision-makers not only for knowledge-sharing and risk mitigation but to also underscore responsibilities and accountability at the team level.
– Customer proximity and co-creation are necessary to long-term value creation. Companies must involve their target segments during the value proposition development process.
– Environmental dynamics are not controllable by the company. They must be predicted and assessed proactively to hedge risk.
– Managers need to properly align the company’s value proposition and its available resources. Proactively engaging customers and strengthening market knowledge is essential to deal effectively with competitive pressures.
Shaping up a corporate positioning program
Clarifying what your company stands for is a collaborative endeavor as it touches upon numerous aspects of value, factors driving value, and the financial costs of delivering that value. It is not possible to provide the desired patient outcomes without clearly understanding how resources will be utilized, operational KPIs affected, impacts on expenditure, income and funding, and whether organizational capability and culture support the goals. A structured corporate positioning program involves many skills, processes and tools. Participants will learn how to put the program together and gain the consensus of all key decision-makers at every stage of the program.
Executive Summary
Corporate Positioning – Internal Assessment
Positioning refers to creating an image of the company and its products or services in the target customers’ mind. Corporate positioning is synonymous with product positioning, for a company derives its image and market fit from what it sells. Positioning has been used by marketers to try and create a unique identity for the company’s products, and the need to differentiate is plainly obvious. Every industry has competitors; some face more intense rivalry than others. All industries also face disruptive forces, and companies are challenged to prove that they’re relevant and provide the value their target segments need. Information changes customer behavior. Before the advent of the internet, the consumer had to rely mainly on word-of-mouth feedback to make informed purchase decisions. Impressions about a company and its products were also formed from advertisements, billboards and pamphlets. Marketing messages were pushed to the buyer, and any research at the buyer’s end to understand the company and product was time-intensive and cumbersome.
In the information age, the consumer has several means to understand a product and its maker at a deep level. Google reviews; Facebook, Instagram and Facebook posts; instant messenger apps; and emails are consumers’ daily informants. Brand and product information flow freely on offline and online channels, satiating consumers’ need to really know what they’re spending their dollars on. On the one hand, information dissemination helps marketers by expanding the reach of their messages. On the other, the availability of information gives consumers more choice than ever before to find companies offering the same product, compare their offerings, and make a switch, seamlessly and in as early as one business day! Fickle customers, endless alternatives, better products, and the fight for survival and growth, make corporate positioning extremely important. The customer value proposition is at the heart of corporate positioning as it communicates how the company will provide value to customers. The development of the value proposition plan is an important part of product strategy. A strong value proposition provides a clear direction for business strategy. Defining a clear value proposition, along with a sustainable sales and marketing strategy, are now integrated into the corporate strategy. With technological improvements, availability of specialized talent, and increasing regulatory burden, successful positioning has become imperative for growth and success.
Marketing challenges in healthcare
Healthcare marketers have to contend with specific challenges that they must address to convert prospects into paying customers. What makes challenges more daunting is the fact that even a few years ago, ‘competitiveness’ wasn’t a boardroom agenda. Changing consumer expectations and easy access to healthcare information online have made it imperative for marketers to double down on their outreach, engagement, and loyalty retention efforts.
Healthcare marketing faces unique limitations, posed by the Health Insurance Portability and Accountability Act (HIPAA), such as not being allowed to retarget those who have visited the provider’s corporate website in the past. Aggressive marketing is also necessitated in a crowded marketplace. A private practice that has many direct competitors in its city of business cannot afford to have a weak digital marketing strategy. Potential customers will be looking at online doctor rating sites to compare healthcare professionals. A well-crafted online presence, which includes requesting patients to submit reviews, ensuring that physicians contribute their expert opinions on popular online patient and medical forums such as Real Self, which focuses on reviews of cosmetic treatments, can sway consumers’ opinions in the company’s favor.
Marketers need to apply strategic thinking and tools to develop effective corporate positioning while adhering to compliance obligations. By establishing an efficient positioning process driven by collaboration and market data, marketing efforts can be supported and generate better outcomes.
Pharmaceutical marketing challenges
Research indicates that pharmaceutical marketing industry lags all other industries in digital marketing spend. This, at a time when B2B field sales that the industry has always relied on to generate business is being slowly replaced by inbound marketing, web design and search engine optimization, poses a curious problem for pharma marketers. Not only do they now shoulder a greater responsibility to engage customers and implement advertising campaigns, they must also work within modest budgets to meet targeted goals. A long and closely connected supply chain also poses issues. Changes in population, disease patterns, lifestyles, income and other market and economic factors, can have a considerable impact on marketing. The challenge is to interpret trends correctly and move in sync with market changes.
Marketing challenges in the biotechnology sector
The lengthy period of development and massive investments towards drug development introduce complexity into determining and managing the value of pharmaceutical products. There’s also the matter of huge amounts of data generated during the preliminary, intermediary and final stages of drug development. Assessing the data and conducting market research to understand prevailing consumer sentiments about the company and the type of drug in the works, can be expected to be highly effort intensive. Thoughtful positioning can build or enhance trust in the company if the product delivers the promised outcomes and doesn’t have negative effects that might potentially pose litigation risks.
Marketing challenges in the medical device industry
Medical device companies have shifted from a transaction-based to a value-focused relationship with providers, payers, practitioners and patients. Innovative products that promise top quality and generate cost-efficiency are a source of competitive advantage. As the older population grows rapidly, healthcare costs increase, and consumers become more health conscious, medical device manufacturers have the opportunity to undertake new development and showcase a compelling value proposition. At the same time, they have to address changes such as the surge in telemedicine usage, which has further received a shot in the arm from the novel coronavirus pandemic. Marketers have the chance to move clinician engagement online and redefine their digital marketing approach using webinars, videos and social media.
Marketing challenges in the clinical diagnostics industry
The clinical diagnostics industry is in flux. Providers face mounting financial pressures and staff shortages. There are fewer laboratory technologists to process the growing volume of tests. Meanwhile, value-based healthcare is moving the focus from treatment to early detection and prevention. Industry legislation also factors into corporate strategies, which in turn affects marketing budgets and plans. For example, the Protecting Access to Medicare Act of 2014 (PAMA) impacts laboratory reimbursement for Medicaid and Medicare programs, as well as private insurers. It is expected to reduce reimbursement for commodity tests by as much as 30%.
The interlinked value in healthcare
In the healthcare industry, the significance of an effective positioning strategy is evident in the business and operational goals that players strive to achieve. Medical device manufacturers and clinical diagnostics providers aim for market penetration and revenue generation. Healthcare providers focus on improving outcomes of care in order to lower costs. Companies in the pharmaceutical and biotechnology sectors are involved in building trust and reputation by demonstrating safety and efficacy, while aiming for operational efficiencies that reduce costs.
The end user for players in healthcare and allied sectors is the consumer, who undergoes diagnostic tests, receives treatment from healthcare professionals, and uses medicines as prescribed. Their treatment outcomes and experience during the procedure depend on the quality of medical equipment used. They may also be users of wearable medical devices and health monitoring systems, recommended by their physician or chosen personally.
In healthcare, value is interlinked and assumes immense importance given how profoundly it impacts the consumer. This program delves into the steps of corporate positioning, and the alignment of value proposition with product strategy and development. Course manuals provide an understanding of how to create and evolve the value proposition that fits product performance and conveys the outcomes that target segments seek. They also emphasize the need for operational tactics and productive collaboration for successful positioning, learning opportunities and continuous improvement.
Planning and implementing the value proposition plan in phases
The Appleton Greene Corporate Training Program (CTP) for Corporate Positioning is delivered as 12 manuals. The curriculum covers key actions and deliberations that should occur in every phase. A summary of the phases follows:
Product Analysis, Internal Assessment and Inter-Departmental Collaboration
Product or service features are areas of functionality, performance and usability that deliver value to users. The internal analysis will begin by setting expectations around the product/service features, without which it cannot be positioned strategically.
An internal analysis of competencies, cost position, competitive advantages is an essential first step towards informing product strategy and positioning. The insights and outcomes of the initial analysis will depend on the extent to which the company is able to involve decision-makers from different departments in the process. Internal assessment can be aided by tools to carry out the process in a defined, structured way. The choice of tools depends on what the participants are expecting to uncover or establish. Some assessment tools are specific to the industry, but they may be used as inspiration by other sectors.
The manual takes you through the common tools used for internal assessment. New product strategy should attempt to predict the nature and timing of market and competitive events. Making some deductions, even if they’re proven inaccurate, is better than not doing any forecasting, for you will have plans to address market or competitor moves. By estimating the length of a product’s life, decisions on pricing and third-party relationships can be better informed and implemented proactively as required. The assessments are also important because at each stage in the product’s lifecycle, the competitive requirements of the next stage must be considered. By developing a strong product or corporate positioning in the market growth stage, the brand will be cushioned against price competitions later
It is seen that companies whose new product development programs are closely connected to business-level strategy are able to develop new products/services that leverage core competencies and learned insights, and also make the most of existing systems, structures and knowledge. On the other hand, a lack of a strategic fit has been observed to lead to product failure. A company’s mission and values reflect in its products and services. The value proposition in marketing messages and advertising campaigns bring attention to what the brand stands for, creating the desired image in consumers’ minds. When planning a product/service, due consideration is paid to how the value it provides is in sync with the company’s overall image. This will naturally influence product positioning, the objective being to remain harmonious with the overall picture of the brand.
Accurate Representation of Value
The value proposition should present an accurate picture of the product’s benefits. If the identified issue pertains to a risky aspect of the product/service, then care should be taken to omit the particular feature or outcome in value statements. The goal of the value proposition is to communicate how the customer will find the product or service useful. It should not send out mixed messages or raise a red flag.
Consumers today have more choice than ever before, enabled by globalization, technological advancement, and free markets. They also have the opportunity to do a deep dive into the brands and products/services they’re interested in. The majority of consumers begin their search for a service or product online. They can access brand information on various online channels, from the company website, to review websites, social media, directories and industry blogs.
The company website has the educational and marketing material consumers need to make a purchase or service engagement decision. Case studies, patient or client testimonials, media mentions, blog posts, pricing sheets, and live chat assistants, all serve to move consumers down the sales funnel.
To occupy a place in the mind of the modern consumer, companies have started dividing their efforts between traditional and digital marketing. Where before, marketing dollars went towards pushing out brand information before a large audience, in an effort to make a sale, today, companies focus on pulling in customers by distributing relevant and valuable content that allows consumers to understand the service, compare products, and absorb the value proposition.
Additionally, the value proposition must be unique so that competitors cannot replicate it easily, and even if they did, it would harm rather than benefit them. To convey differentiation, the product must be able to improve on existing market offerings. At the same time, the fact remains that even the best product cannot sell itself. It must be backed by the right marketing messages that are accessible by the target audience and generate interest by virtue of the differentiation and associated outcomes for that target market.
The marketing team is responsible for the public representation of how customers will value using your product. They must know the product in and out so as to include all its unique benefits or new capabilities. Representing the product honestly and compellingly is half the battle won in the sales game.
Developing the value proposition is more complex for some industries than others. Choosing a medical device or treatment isn’t as straightforward as buying shoes or booking a hotel. There’s more at stake – for the customer or client. This underscores the importance of deep knowledge of product/service, organizational capability, customer segments, product lifecycle, external market and non-market forces.
Market Segmentation and Consumer Perceptions
Audience segmentation precedes planning your outreach strategies. You may already have an offline and online presence; through a structured approach to product positioning, you have the opportunity to reevaluate your existing marketing channels and messages. If data collection proves cumbersome owing to a lack of concrete strategies or systems to collect and/or integrate customer data, you can note it down as an issue and assign an appropriate level of priority. ealthcare models have moved towards patient-centered care. Segmentation models organized around providers rather than the population are insufficient. Patient-based segmentation considers more needs of the population, in an attempt to improve the quality of healthcare products and services relative to their price and create greater value for customers.
Classifying customers based on various criteria – the tangible and intangible – has become increasingly important in the information age where buyer decisions are driven and influenced in myriad ways. Other than demographic segmentation, grouping customers based on psychological factors and value-based purchase decisions, is important. A deeper customer profile can be beneficial for patient engagement, service distribution, successful marketing, and new product/service development. Value-segmentation is other form of market segmentation. It involves creating customer subgroups based on perceived and delivered value. It aids pricing decisions, specifically, helping identify the price customers are willing to pay and which is also a profitable price for the company.
Healthcare marketers who need to engage with and motivate consumers need to consider psychological variables that influence the decision process, such as values, lifestyles, attitudes, beliefs, priorities and motivations. This is achieved through psychographic segmentation. Changing residential patterns, driven by migration, urbanization and other developments, can also be included as part of the audience targeting and outreach exercise. Data about the local population can be accessed at the local government website and supplemented by online articles reporting on migration patterns and reasons driving the same. A number of market and user issues can affect product/service strategy and positioning. They include the growing adoption of telemedicine, health reform, and innovations in treatment and technology.
Depending on how you’ve positioned and marketed your products/services so far, you will need to challenge perceptions about your corporate brand. As the number of claims for a brand increase, the overall positioning may lose its clarity and sharpness, and consumers may not believe every value statement you publicize. The common positioning errors are over-positioning, under-positioning, confused positioning and doubtful positioning.
When targeting new marketing segments, data on brand awareness and perception is necessary. The company should also be familiar with customers’ needs and preferences and compare how these have changed vis-à-vis those of the target market segments who aren’t yet using the company’s product/service. Multiple factors can interfere with customer-brand relationships, requiring a broader look at the customer lifecycle. Just as you create a customer journey map outlining the interactions and experiences at every stage, identify factors than impact customers’ decisions over time. When stakeholders are communicating a unified brand story, and have been trained to convey it compellingly, your product strategy and brand positioning efforts have a higher probability of activating inquiries, consultations and sales.
Data Collection and Analysis
A better understanding of the target market allows you to further refine the value proposition, and the impact that choosing your solution might have on the buyer’s organization. Data collection and analysis will occur for the key markets and buyer segments you plan to target. Market research serves four functions: exploratory, prescriptive, diagnostic and predictive.
The company can collect qualitative or quantitative data. Qualitative analysis uses a small sample of participants and is based on subjective data and anecdotal evidence. That makes it an impressionistic data collection methodology.
A focus group typically comprises of 7-10 participants and is led by a ‘facilitator’ who conducts the group, leads participants through the questions, and captures an account of their inputs. It can be a standard focus group that chooses participants at random from the relevant market population. The goal of an in-depth interview is to understand the experience of other people and explore ideas. It selects a limited number of participants who are experts in a particular area or on an ad hoc basis. Quantitative analysis gathers data from a large sample of participants that proportionally represent the total relevant population. Statistical methods are used to evaluate the sample data and generalized to the larger population.
Surveys can be conducted as personal interviews, telephone surveys or mail surveys. Personal interviews are suitable when responses to open-ended questions are required. Discussions can be longer and a greater number of topics covered. The costs of conducting interview surveys can be considerable, considering how it requires you to recruit, train and retain interviewing staff. Interviewers must possess the skills necessary to make the right inquiries and note non-verbal gestures to grasp participants’ emotions. Consumers share their opinions, feedback and insights on popular social media channels. A scan of your social media pages and relevant groups you’ve joined is a worthy endeavor. Although the bulk of your market research data will come from focus groups, surveys and interviews, some part of it should consider all relevant information and brand mentions on social networks. What are the posts on a specific service or digital initiative that has attracted most attention? Which brand attestations have received more likes and positive or neutral comments? What are the 3-4 existing value statements that have resonated most with customers?
Like the market data, information collected on competitors’ value statements should be used to make sound decisions on the content and direction of the value proposition. You can consider showing various competitor value propositions and your own to focus groups, the goal being to determine which ones resonate most with this representative sample. The economic value of the product, discussed further on, should be included. Psychological end-benefits can also be components of some value statements. The purpose is to cover value statements that convey all the differential benefits that matter from monetary and psychological/emotional points of view. Value creation should include those elements of a product/service that an informed buyer is willing to pay for. The customer’s economics should be considered to determine how best you can align your product with what customers’ actually value. There are different ways to describe value in monetary terms. For example, you can show that your lower-priced competitors are in fact overpriced as the savings realized from selecting their product/service is inadequate to compensate the value lost by not choosing your product/service. Or you could promote your discount in the light of the added value your product provides.
Data Analysis and Presentation
There are different ways to analyze qualitative and quantitative data. For quantitative data analysis, knowledge of measurement scales is necessary. Before analyzing the data collected through one or more quantitative data collection methods, it needs to go through certain initial checks. Both marketing and development can also refer to their existing market, customer and competitor intelligence, or conduct necessary surveys, interviews and analytics to take realistic actions. It includes considering the impact of product development on the company’s resources and different departments involved in the process. Decisions based on data and insights can mitigate risks and improve chances of product success.
Qualitative assessment involves analyzing the collected data for specific phrases, concepts or themes. The objective is to quantify and analyze the meanings and relationships of those concepts, phrases and themes. The data for content analysis can come from interviews, open-ended questions, focus groups and public meetings. Select methods and tools that help you generate actionable insights that can be directly applied to your product positioning efforts. Avoid looking for meanings or drawing conclusions that aren’t applicable to your program. Such insights are superfluous for your current endeavor but they may be considered for future marketing activities. Recognize the existing data analysis capabilities of your marketing team so that you don’t use complex methods or tools that involve a learning curve. Alternatively, you can outsource market research to an external agency.
Sticking to the program timeline can be challenging if you’re stuck in the data analysis process. Distributing tasks, process steps and post-analysis reviews among team members is one way to get all the work done in this phase within a certain deadline. A formal presentation of research findings is necessary to bring all stakeholders on the same page. The presentation should be informative, make the best use of the available time, and leave no room for confusion or ambiguity. The team member assigned to make the presentation should follow certain best practices, such as speaking to the requirements and interests of different departments and using more images than text.
The number of data visualization tools available online make light work of converting information into meaningful visuals. You can choose the appropriate visual representations based on what you’re presenting in each slide. Options include line charts, bar charts, column charts, pie charts, bubble charts, scatter charts and pivot tables. Data is only good as the insights extracted from it. Mistakes and biases during data analysis are quite common. They include cherry-picking, underfitting, authority bias and confirmation bias. The post-presentation feedback and discussion should also be planned in advance. You could also have stakeholders email their inputs to the team member. The valid suggestions can be incorporated and an updated presentation shared with stakeholders. If suggestions don’t have merit, then they can be disregarded, and the reason for the decision duly communicated. Minor inputs can be noted in the post-presentation session.
Preliminary Plan
The data has been converted into useful information, which can then go into creating an outline for the preliminary value proposition plan. Here, creating the value proposition map is a useful endeavor. A value proposition map describes the value proposition of your product, service or business model in a more detailed and structured way. It is a representation of the product the value proposition is built around, specific ways in which the product alleviates customers’ pain-points, and the specific ways in which the product creates gains for the customer. Using insights from market research, the marketing team can outline the value proposition plan. The value statements should include business, functional and emotional drivers. An outcomes-based value proposition for healthcare can consider outcomes for the full cycle of care, identify outcomes that customers deem as priorities, and avoid defining too many outcomes.
Selecting outcomes should be a collaborative effort. The importance of inter-departmental participation in the value proposition program has already been emphasized in the first phase of the program. With support from stakeholders, the process of determining outcomes is structured, well-informed, and ultimately worth the effort. Patients should be involved in the process. The target setting and data gathering stages of the value proposition plan sets the foundation for understanding patients’ experiences, perceptions, needs, attitudes and expectations. A clear delineation of product features, benefits and outcomes is necessary. Stakeholders should Keeping with the collaborative nature of corporate positioning, any modifications to value statements should also be easily possible, after taking stakeholders’ input into consideration.
Plan Review and Issue Resolution
In the plan review stage, the goals are to review outcomes as they relate to each-other and gain a full view of all benefits and outcomes. This is importance for several reasons, including differentiates the brand/product, creating the right perceptions about the company/product, challenging established competitors, or when needed, changing the brand image. This stage also includes a SWOT Analysis, which is a straightforward framework to analyze the value proposition outline and its basis. In this phase, you will probe the strengths, weaknesses, opportunities and threats with respect to the value claims and market research. The analysis must be structured and transparent to identify and address all components of the assessment accurately and in a timely manner. A solid SWOT analysis identifies all factors impacting the business, product, strategy, project, or in this case, the value proposition.
If, for any reason, previous phases weren’t carried out as intended, then the major issues in the value proposition plan will become apparent in this review stage. They include over-generalizing the benefits of the value proposition, addressing every customer pain and gain, and mixing multiple customer segments. Proceeding with a value proposition outline that has many holes and doesn’t represent customer or organizational realities is risky. The review is an opportunity to fill the missing gaps sooner rather than in the end stages of the program. In an ideal situation, the value claims should accurately reflect the general perceptions about the brand and validate insights from market research. There will be room for improvements or refinements, but you should try to keep rework low as the program progresses. At least, the most important tasks in every stage must have been performed correctly. This will also earn the endorsement of stakeholders who have participated from the beginning. The onus will be on the marketing team to implement the program – with support from departments heads – and tie loose ends quickly.
Alpha and Beta Testing
Hypotheses can be validated using alpha and beta testing. The goal of alpha testing is to resolve defects in the working model before it enters the beta testing phase. For the corporate positioning initiative, alpha testing will involve a meeting of the product development and marketing teams to test the preliminary plan against product performance. Based on features like product performance, usability, overall quality, potential outcomes and so on, the value statements can be adjusted and a better understanding of product capabilities gained.
The beta prototype is as close as possible to the commercial product. Impressions about the beta protype should be accurate and well-formed so that marketing can validate or refine the value proposition and products positioning developed thus far. The beta testing plan should assign clear goals, responsibilities and deadlines. A systematic approach will go a long way in interpreting feedback and making changes in an efficient way. Selecting the testers correctly is imperative as their views and feedbacks will be considered in incorporating any quick or minor changes or adjustments that improve the value proposition or product. Typically, new features or functionalities are not introduced in the beta phase. From the product development point of view, beta testing is a means to identify how the beta build should be followed up to meet all or most expectations of the target segments.
Beta testing of a product should run for as long as it takes the testers to use the product and document outcomes. Usually, this doesn’t take more than 8-10 weeks, but can be shorter or linger depending upon the product. As assumptions on product performance and value proposition will be validated in this stage, due time should be set aside, subject to factors such as the program deadline, beta testing goal, and your bandwidth.
Resolving Issues
The product positioning problem does not end with the drafting or testing of the preliminary plan. It is important to re-check and refine the positioning plan and the value proposition several times before it can be implemented. Issue resolution is a crucial step in the corporate positioning process as it helps to ensure that all the goals have been met. The issue resolution stage urges the team to ask the right questions to determine if there are any shortcomings in the proposition or is it sound enough for the product and the company to be seen as a worthy contender in the market.
Issue resolution requires you to ask some insightful questions related to the early assessment phase as well as the goals and objectives set for the product positioning strategy. Some of the crucial questions to be asked during this stage include:
– Are the goals aligned with the product capabilities?
– Have all customer segments been taken into consideration?
– Does the value proposition highlight all unique differentiators?
– Will the product positioning get outdated over time?
– Was the initial assessment done thoroughly?
– Was the data collected correct and relevant?
– Has the data been analyzed correctly?
– Has user perspective been taken into consideration?
– Are there any gaps or loopholes that may have been missed during initial assessment?
Honest answers to these questions will reveal if any important aspect has been overlooked in the previous stages. By the end of this stage, the entire team should be confident that the corporate positioning plan has been thoroughly reviewed, all inadequacies have been addressed and the plan is now viable.
After the issues in the product positioning plan have been detected and resolved, it is time to implement the plan. The positioning plan and the value proposition will be implemented when the product is finally launched in the target market. However, implementation of the solutions also has to be done in a phased manner. The product or service may be launched in an existing market, a new market, or a new segment of an existing market. In any case, several activities need to be undertaken before the final launch.
A comprehensive product brief must be created that can explain everything about the product, its value, and its positioning to all the teams involved in the development and launch of the product. The collaboration of various teams, such as marketing, sales, and customer service, is crucial to the successful launch of a new product or service. The teams must be briefed about their roles and trained to carry out the launch smoothly. It is also important to gather feedback on the product before the launch, for which product testing and market testing must be conducted. This allows for making necessary changes before the product hits the market.
Implementing Solutions
Once the product is ready for the market, a phased rollout strategy must be developed. This means that the product is first released to a smaller portion of the target market and based on how it is received, expansion to wider areas may be carried out. Successful implementation depends on the combined effort of all the teams, a constant review of the feedback received from customers, and the sharing of this information with the people in decision-making capacities.
Even after the launch of the product in the wider market, the need for monitoring its performance does not end. To ensure that the product remains in the competition, it is essential to monitor all the activities involved, from product performance to market shifts. Markets are dynamic, new competition arises every second day, and customer preferences change. In such circumstances, it is difficult for a product to maintain its standing in the market unless it is being consistently monitored and upgraded whenever necessary. Monitoring allows you to rethink the product positioning strategy to keep it relevant to customer needs and market demands.
Some key metrics must be used to study the performance of the product. These metrics can be on marketing, sales, or product usage and they give a quantifiable measure of the product’s or process’s success. Some of these key metrics include:
– Promotional channel metrics
– Lead generation
– PR coverage
– Market share
– Revenue generated
– Sales by region
– Total monthly sale growth
– Sales by contact
– Lead conversion rate
– Product usage
– Feature usage
These KPIs along with qualitative feedback can give deep insights into the product’s perceived value among consumers and the effectiveness of the whole program. It is, however, important to ensure that the right metrics have been chosen for monitoring and the data analysis has been done meticulously.
Monitoring Activity and Aiming for Continuous Improvement
Monitoring and improvement are continuous processes and these should be carried forward by the company for as long as possible. Continuous improvement is instrumental in helping a company adapt to the changes in the market and competition. A business cannot afford to rest in its status quo if it wants to rise above its competitors and maintain its position in the market, particularly in this age of constantly advancing technologies. Continuous improvement helps a business grow in small, incremental steps and develop a long-lasting culture of change for the better.
Transparency, knowledge sharing, and employee involvement are key elements of continuous improvement. There are many tried and tested methods and tools for continuous improvement that organizations can employ. Some of the most popular methods include:
– Kaizen
– PDCA Cycle
– Just-in-Time
– Six Sigma
– ISO standards
Continuous improvement is a process driven from within the organization. The involvement of all employees in improving day-to-day operations is essential for continuous improvement. Employee’s suggestions for change are valued and incorporated, which helps improve employee engagement and retention.
Continuous improvement is not achieved by introducing major changes in company policies or procedures. It is rather brought about by small, incremental shifts in the way the company functions. Focusing on lean, zero-waste processes, that help in cost containment and can be easily adopted by each member of the company, helps in building a solid foundation for continuous improvement.
Summary Curriculum
Corporate Positioning – Workshop 1 – Internal Assessment
- Internal Analysis
- Define Issues
- Target Setting
- Gathering Data
- Analyze Data
- Preliminary Plan
- Review Plan
- Test Assumptions
- Issue Resolution
- Implement Solutions
- Monitor Activity
- Continuous Improvement
Detailed Curriculum
Corporate Positioning – Workshop 1 – Internal Assessment
1. Internal Analysis
1. Pre-Planning
2. Product Analysis
3. Inter-departmental Collaboration
4. SWOT Analysis
5. GAP Analysis
6. McKinsey 7S Framework
7. Core Competency Analysis
8. Organizational Capacity Assessment Tool
9. Positioning Across the Product Lifecycle
10. Product Development and Strategy Integration
11. Communicating a Consistent Brand Message
12. Multichannel Marketing
2. Define Issues
1. Mapping Issues
2. Non-market Factors
3. Problem-Solution Map
4. Clarify Business Outcomes
5. Traditional vs Digital Marketing
6. Evolving the Value Proposition
7. Elements of a Successful Value Proposition
8. Positioning Mistakes
9. Assigning Responsibilities
10. Management Roles
11. Importance of Project Management
12. Examples/Case Studies
3. Target Setting
1. Introduction to Market Segmentation
2. Healthcare Models
3. Demographic Segmentation
4. Value-based Segmentation
5. Psychographic Segmentation
6. Audience Targeting
7. Identifying Issues
8. Market and User Risk Factors
9. Consumer Impressions on Positioning
10. Types of Positioning
11. Positioning Strategies
12. Examples/Case Studies
4. Gathering Data
1. Functions of Market Research
2. Basic vs Applied Market Research
3. Decision Support
4. Qualitative Analysis
5. Quantitative Analysis
6. B2B Market Research
7. Industry Studies
8. Competitor Analysis
9. Value Management
10. Value and Price Communication
11. EVE Model
12. Limitations of Data Collection
5. Analyze data
1. Quantitative Data Analysis
2. Measurement Scales
3. Qualitative Data Analysis
4. Steps of Analysis
5. Expediting Data Analysis
6. Data Analysis Selection
7. Data Analysis Mistakes
8. Cognitive Biases
9. Identifying Issues
10. Presenting Findings
11. Data Visualization
12. Feedback
6. Preliminary Plan
1. Value Proposition Plan Outline
2. Value Proposition Map
3. Outlining the Value Proposition
4. Consumer Decision Analysis
5. Business Drivers
6. Functional Drivers
7. Emotional Drivers
8. Collaborative Effort
9. Features vs Benefits vs Outcomes
10. Outcomes-based Value Proposition
11. Flexible Value Statements
12. Examples/Case Studies
7. Review Plan
1. Importance of Plan Review
2. SWOT Analysis
3. Fixing Issues
4. Questions on Target Segments
5. Questions on Competitors
6. Questions on Value
7. Review Schedule
8. Mistakes to Avoid
9. Conveying Value
10. Incorporating Changes
11. Interdepartmental Collaboration
12. Examples/Case Studies
8. Test Assumptions
1. Alpha and Beta Prototypes
2. Importance of Alpha and Beta Testing
3. Open vs Closed Beta Testing
4. Planning Beta Testing
5. Product Strategy-Positioning Alignment
6. Beta Testing Timeline
7. Validating Hypotheses
8. Choosing Beta Testers
9. Avoiding Risks During Beta Testing
10. Alternative Value Statements
11. Internal Efforts vs Outsourcing
12. Examples
9. Issue Resolution
1. Gap analysis
2. Identifying weak links
3. Goal-Capabilities Alignment
4. Initial Assessment Review
5. Customer Segment Checks
6. Unique Differentiators Checks
7. Outdated Product Positioning
8. Initial Assessment Review
9. Data Collection Review
10. Useful vs Superfluous Data
11. Data Analysis Review
12. User Perspective Review
10. Implement Solutions
1. Approaches to Launching a Product
2. Product Launch Timing
3. Creating a Product Brief
4. Key Elements of a Product Brief
5. Collaborating with the Marketing Team
6. Training the Sales Team
7. Training the Implementation and Support teams
8. Launching the Product/Service
9. Product Testing Prior to Final Launch
10. Market Testing Prior to Final Launch
11. Developing the Early Rollout Strategy
12. Collecting Customer Feedback from Initial Rollout
11. Monitor Activity
1. Monitoring of Product Performance Post Launch
2. Benefits of Continuous Monitoring
3. Key Metrics for Performance Monitoring
4. Promotional Channel Metrics
5. Lead Generation and Lead Conversion Rate
6. PR Coverage
7. Market Share
8. Revenue Generated
9. Sales by Region, Total Monthly Sales Growth, Sales by Contact
10. Product Usage and Feature Usage
11. Mistakes in Data collection and Analysis
12. Data Review
12. Continuous Improvement
1. The Need for Continuous Improvement
2. Elements of a Continuous Improvement Culture
3. Transparency
4. Knowledge Sharing
5. Employee Participation
6. Continuous Improvement Methods
7. Kaizen
8. PDCA Cycle
9. Just-in-Time
10. Six Sigma
11. ISO Standards
12. Driving Continuous Improvement Within the Company
Distance Learning
Introduction
Welcome to Appleton Greene and thank you for enrolling on the Corporate Positioning corporate training program. You will be learning through our unique facilitation via distance-learning method, which will enable you to practically implement everything that you learn academically. The methods and materials used in your program have been designed and developed to ensure that you derive the maximum benefits and enjoyment possible. We hope that you find the program challenging and fun to do. However, if you have never been a distance-learner before, you may be experiencing some trepidation at the task before you. So we will get you started by giving you some basic information and guidance on how you can make the best use of the modules, how you should manage the materials and what you should be doing as you work through them. This guide is designed to point you in the right direction and help you to become an effective distance-learner. Take a few hours or so to study this guide and your guide to tutorial support for students, while making notes, before you start to study in earnest.
Study environment
You will need to locate a quiet and private place to study, preferably a room where you can easily be isolated from external disturbances or distractions. Make sure the room is well-lit and incorporates a relaxed, pleasant feel. If you can spoil yourself within your study environment, you will have much more of a chance to ensure that you are always in the right frame of mind when you do devote time to study. For example, a nice fire, the ability to play soft soothing background music, soft but effective lighting, perhaps a nice view if possible and a good size desk with a comfortable chair. Make sure that your family know when you are studying and understand your study rules. Your study environment is very important. The ideal situation, if at all possible, is to have a separate study, which can be devoted to you. If this is not possible then you will need to pay a lot more attention to developing and managing your study schedule, because it will affect other people as well as yourself. The better your study environment, the more productive you will be.
Study tools & rules
Try and make sure that your study tools are sufficient and in good working order. You will need to have access to a computer, scanner and printer, with access to the internet. You will need a very comfortable chair, which supports your lower back, and you will need a good filing system. It can be very frustrating if you are spending valuable study time trying to fix study tools that are unreliable, or unsuitable for the task. Make sure that your study tools are up to date. You will also need to consider some study rules. Some of these rules will apply to you and will be intended to help you to be more disciplined about when and how you study. This distance-learning guide will help you and after you have read it you can put some thought into what your study rules should be. You will also need to negotiate some study rules for your family, friends or anyone who lives with you. They too will need to be disciplined in order to ensure that they can support you while you study. It is important to ensure that your family and friends are an integral part of your study team. Having their support and encouragement can prove to be a crucial contribution to your successful completion of the program. Involve them in as much as you can.
Successful distance-learning
Distance-learners are freed from the necessity of attending regular classes or workshops, since they can study in their own way, at their own pace and for their own purposes. But unlike traditional internal training courses, it is the student’s responsibility, with a distance-learning program, to ensure that they manage their own study contribution. This requires strong self-discipline and self-motivation skills and there must be a clear will to succeed. Those students who are used to managing themselves, are good at managing others and who enjoy working in isolation, are more likely to be good distance-learners. It is also important to be aware of the main reasons why you are studying and of the main objectives that you are hoping to achieve as a result. You will need to remind yourself of these objectives at times when you need to motivate yourself. Never lose sight of your long-term goals and your short-term objectives. There is nobody available here to pamper you, or to look after you, or to spoon-feed you with information, so you will need to find ways to encourage and appreciate yourself while you are studying. Make sure that you chart your study progress, so that you can be sure of your achievements and re-evaluate your goals and objectives regularly.
Self-assessment
Appleton Greene training programs are in all cases post-graduate programs. Consequently, you should already have obtained a business-related degree and be an experienced learner. You should therefore already be aware of your study strengths and weaknesses. For example, which time of the day are you at your most productive? Are you a lark or an owl? What study methods do you respond to the most? Are you a consistent learner? How do you discipline yourself? How do you ensure that you enjoy yourself while studying? It is important to understand yourself as a learner and so some self-assessment early on will be necessary if you are to apply yourself correctly. Perform a SWOT analysis on yourself as a student. List your internal strengths and weaknesses as a student and your external opportunities and threats. This will help you later on when you are creating a study plan. You can then incorporate features within your study plan that can ensure that you are playing to your strengths, while compensating for your weaknesses. You can also ensure that you make the most of your opportunities, while avoiding the potential threats to your success.
Accepting responsibility as a student
Training programs invariably require a significant investment, both in terms of what they cost and in the time that you need to contribute to study and the responsibility for successful completion of training programs rests entirely with the student. This is never more apparent than when a student is learning via distance-learning. Accepting responsibility as a student is an important step towards ensuring that you can successfully complete your training program. It is easy to instantly blame other people or factors when things go wrong. But the fact of the matter is that if a failure is your failure, then you have the power to do something about it, it is entirely in your own hands. If it is always someone else’s failure, then you are powerless to do anything about it. All students study in entirely different ways, this is because we are all individuals and what is right for one student, is not necessarily right for another. In order to succeed, you will have to accept personal responsibility for finding a way to plan, implement and manage a personal study plan that works for you. If you do not succeed, you only have yourself to blame.
Planning
By far the most critical contribution to stress, is the feeling of not being in control. In the absence of planning we tend to be reactive and can stumble from pillar to post in the hope that things will turn out fine in the end. Invariably they don’t! In order to be in control, we need to have firm ideas about how and when we want to do things. We also need to consider as many possible eventualities as we can, so that we are prepared for them when they happen. Prescriptive Change, is far easier to manage and control, than Emergent Change. The same is true with distance-learning. It is much easier and much more enjoyable, if you feel that you are in control and that things are going to plan. Even when things do go wrong, you are prepared for them and can act accordingly without any unnecessary stress. It is important therefore that you do take time to plan your studies properly.
Management
Once you have developed a clear study plan, it is of equal importance to ensure that you manage the implementation of it. Most of us usually enjoy planning, but it is usually during implementation when things go wrong. Targets are not met and we do not understand why. Sometimes we do not even know if targets are being met. It is not enough for us to conclude that the study plan just failed. If it is failing, you will need to understand what you can do about it. Similarly if your study plan is succeeding, it is still important to understand why, so that you can improve upon your success. You therefore need to have guidelines for self-assessment so that you can be consistent with performance improvement throughout the program. If you manage things correctly, then your performance should constantly improve throughout the program.
Study objectives & tasks
The first place to start is developing your program objectives. These should feature your reasons for undertaking the training program in order of priority. Keep them succinct and to the point in order to avoid confusion. Do not just write the first things that come into your head because they are likely to be too similar to each other. Make a list of possible departmental headings, such as: Customer Service; E-business; Finance; Globalization; Human Resources; Technology; Legal; Management; Marketing and Production. Then brainstorm for ideas by listing as many things that you want to achieve under each heading and later re-arrange these things in order of priority. Finally, select the top item from each department heading and choose these as your program objectives. Try and restrict yourself to five because it will enable you to focus clearly. It is likely that the other things that you listed will be achieved if each of the top objectives are achieved. If this does not prove to be the case, then simply work through the process again.
Study forecast
As a guide, the Appleton Greene Corporate Positioning corporate training program should take 12-18 months to complete, depending upon your availability and current commitments. The reason why there is such a variance in time estimates is because every student is an individual, with differing productivity levels and different commitments. These differentiations are then exaggerated by the fact that this is a distance-learning program, which incorporates the practical integration of academic theory as an as a part of the training program. Consequently all of the project studies are real, which means that important decisions and compromises need to be made. You will want to get things right and will need to be patient with your expectations in order to ensure that they are. We would always recommend that you are prudent with your own task and time forecasts, but you still need to develop them and have a clear indication of what are realistic expectations in your case. With reference to your time planning: consider the time that you can realistically dedicate towards study with the program every week; calculate how long it should take you to complete the program, using the guidelines featured here; then break the program down into logical modules and allocate a suitable proportion of time to each of them, these will be your milestones; you can create a time plan by using a spreadsheet on your computer, or a personal organizer such as MS Outlook, you could also use a financial forecasting software; break your time forecasts down into manageable chunks of time, the more specific you can be, the more productive and accurate your time management will be; finally, use formulas where possible to do your time calculations for you, because this will help later on when your forecasts need to change in line with actual performance. With reference to your task planning: refer to your list of tasks that need to be undertaken in order to achieve your program objectives; with reference to your time plan, calculate when each task should be implemented; remember that you are not estimating when your objectives will be achieved, but when you will need to focus upon implementing the corresponding tasks; you also need to ensure that each task is implemented in conjunction with the associated training modules which are relevant; then break each single task down into a list of specific to do’s, say approximately ten to do’s for each task and enter these into your study plan; once again you could use MS Outlook to incorporate both your time and task planning and this could constitute your study plan; you could also use a project management software like MS Project. You should now have a clear and realistic forecast detailing when you can expect to be able to do something about undertaking the tasks to achieve your program objectives.
Performance management
It is one thing to develop your study forecast, it is quite another to monitor your progress. Ultimately it is less important whether you achieve your original study forecast and more important that you update it so that it constantly remains realistic in line with your performance. As you begin to work through the program, you will begin to have more of an idea about your own personal performance and productivity levels as a distance-learner. Once you have completed your first study module, you should re-evaluate your study forecast for both time and tasks, so that they reflect your actual performance level achieved. In order to achieve this you must first time yourself while training by using an alarm clock. Set the alarm for hourly intervals and make a note of how far you have come within that time. You can then make a note of your actual performance on your study plan and then compare your performance against your forecast. Then consider the reasons that have contributed towards your performance level, whether they are positive or negative and make a considered adjustment to your future forecasts as a result. Given time, you should start achieving your forecasts regularly.
With reference to time management: time yourself while you are studying and make a note of the actual time taken in your study plan; consider your successes with time-efficiency and the reasons for the success in each case and take this into consideration when reviewing future time planning; consider your failures with time-efficiency and the reasons for the failures in each case and take this into consideration when reviewing future time planning; re-evaluate your study forecast in relation to time planning for the remainder of your training program to ensure that you continue to be realistic about your time expectations. You need to be consistent with your time management, otherwise you will never complete your studies. This will either be because you are not contributing enough time to your studies, or you will become less efficient with the time that you do allocate to your studies. Remember, if you are not in control of your studies, they can just become yet another cause of stress for you.
With reference to your task management: time yourself while you are studying and make a note of the actual tasks that you have undertaken in your study plan; consider your successes with task-efficiency and the reasons for the success in each case; take this into consideration when reviewing future task planning; consider your failures with task-efficiency and the reasons for the failures in each case and take this into consideration when reviewing future task planning; re-evaluate your study forecast in relation to task planning for the remainder of your training program to ensure that you continue to be realistic about your task expectations. You need to be consistent with your task management, otherwise you will never know whether you are achieving your program objectives or not.
Keeping in touch
You will have access to qualified and experienced professors and tutors who are responsible for providing tutorial support for your particular training program. So don’t be shy about letting them know how you are getting on. We keep electronic records of all tutorial support emails so that professors and tutors can review previous correspondence before considering an individual response. It also means that there is a record of all communications between you and your professors and tutors and this helps to avoid any unnecessary duplication, misunderstanding, or misinterpretation. If you have a problem relating to the program, share it with them via email. It is likely that they have come across the same problem before and are usually able to make helpful suggestions and steer you in the right direction. To learn more about when and how to use tutorial support, please refer to the Tutorial Support section of this student information guide. This will help you to ensure that you are making the most of tutorial support that is available to you and will ultimately contribute towards your success and enjoyment with your training program.
Work colleagues and family
You should certainly discuss your program study progress with your colleagues, friends and your family. Appleton Greene training programs are very practical. They require you to seek information from other people, to plan, develop and implement processes with other people and to achieve feedback from other people in relation to viability and productivity. You will therefore have plenty of opportunities to test your ideas and enlist the views of others. People tend to be sympathetic towards distance-learners, so don’t bottle it all up in yourself. Get out there and share it! It is also likely that your family and colleagues are going to benefit from your labors with the program, so they are likely to be much more interested in being involved than you might think. Be bold about delegating work to those who might benefit themselves. This is a great way to achieve understanding and commitment from people who you may later rely upon for process implementation. Share your experiences with your friends and family.
Making it relevant
The key to successful learning is to make it relevant to your own individual circumstances. At all times you should be trying to make bridges between the content of the program and your own situation. Whether you achieve this through quiet reflection or through interactive discussion with your colleagues, client partners or your family, remember that it is the most important and rewarding aspect of translating your studies into real self-improvement. You should be clear about how you want the program to benefit you. This involves setting clear study objectives in relation to the content of the course in terms of understanding, concepts, completing research or reviewing activities and relating the content of the modules to your own situation. Your objectives may understandably change as you work through the program, in which case you should enter the revised objectives on your study plan so that you have a permanent reminder of what you are trying to achieve, when and why.
Distance-learning check-list
Prepare your study environment, your study tools and rules.
Undertake detailed self-assessment in terms of your ability as a learner.
Create a format for your study plan.
Consider your study objectives and tasks.
Create a study forecast.
Assess your study performance.
Re-evaluate your study forecast.
Be consistent when managing your study plan.
Use your Appleton Greene Certified Learning Provider (CLP) for tutorial support.
Make sure you keep in touch with those around you.
Tutorial Support
Programs
Appleton Greene uses standard and bespoke corporate training programs as vessels to transfer business process improvement knowledge into the heart of our clients’ organizations. Each individual program focuses upon the implementation of a specific business process, which enables clients to easily quantify their return on investment. There are hundreds of established Appleton Greene corporate training products now available to clients within customer services, e-business, finance, globalization, human resources, information technology, legal, management, marketing and production. It does not matter whether a client’s employees are located within one office, or an unlimited number of international offices, we can still bring them together to learn and implement specific business processes collectively. Our approach to global localization enables us to provide clients with a truly international service with that all important personal touch. Appleton Greene corporate training programs can be provided virtually or locally and they are all unique in that they individually focus upon a specific business function. They are implemented over a sustainable period of time and professional support is consistently provided by qualified learning providers and specialist consultants.
Support available
You will have a designated Certified Learning Provider (CLP) and an Accredited Consultant and we encourage you to communicate with them as much as possible. In all cases tutorial support is provided online because we can then keep a record of all communications to ensure that tutorial support remains consistent. You would also be forwarding your work to the tutorial support unit for evaluation and assessment. You will receive individual feedback on all of the work that you undertake on a one-to-one basis, together with specific recommendations for anything that may need to be changed in order to achieve a pass with merit or a pass with distinction and you then have as many opportunities as you may need to re-submit project studies until they meet with the required standard. Consequently the only reason that you should really fail (CLP) is if you do not do the work. It makes no difference to us whether a student takes 12 months or 18 months to complete the program, what matters is that in all cases the same quality standard will have been achieved.
Support Process
Please forward all of your future emails to the designated (CLP) Tutorial Support Unit email address that has been provided and please do not duplicate or copy your emails to other AGC email accounts as this will just cause unnecessary administration. Please note that emails are always answered as quickly as possible but you will need to allow a period of up to 20 business days for responses to general tutorial support emails during busy periods, because emails are answered strictly within the order in which they are received. You will also need to allow a period of up to 30 business days for the evaluation and assessment of project studies. This does not include weekends or public holidays. Please therefore kindly allow for this within your time planning. All communications are managed online via email because it enables tutorial service support managers to review other communications which have been received before responding and it ensures that there is a copy of all communications retained on file for future reference. All communications will be stored within your personal (CLP) study file here at Appleton Greene throughout your designated study period. If you need any assistance or clarification at any time, please do not hesitate to contact us by forwarding an email and remember that we are here to help. If you have any questions, please list and number your questions succinctly and you can then be sure of receiving specific answers to each and every query.
Time Management
It takes approximately 1 Year to complete the Corporate Positioning corporate training program, incorporating 12 x 6-hour monthly workshops. Each student will also need to contribute approximately 4 hours per week over 1 Year of their personal time. Students can study from home or work at their own pace and are responsible for managing their own study plan. There are no formal examinations and students are evaluated and assessed based upon their project study submissions, together with the quality of their internal analysis and supporting documents. They can contribute more time towards study when they have the time to do so and can contribute less time when they are busy. All students tend to be in full time employment while studying and the Corporate Positioning program is purposely designed to accommodate this, so there is plenty of flexibility in terms of time management. It makes no difference to us at Appleton Greene, whether individuals take 12-18 months to complete this program. What matters is that in all cases the same standard of quality will have been achieved with the standard and bespoke programs that have been developed.
Distance Learning Guide
The distance learning guide should be your first port of call when starting your training program. It will help you when you are planning how and when to study, how to create the right environment and how to establish the right frame of mind. If you can lay the foundations properly during the planning stage, then it will contribute to your enjoyment and productivity while training later. The guide helps to change your lifestyle in order to accommodate time for study and to cultivate good study habits. It helps you to chart your progress so that you can measure your performance and achieve your goals. It explains the tools that you will need for study and how to make them work. It also explains how to translate academic theory into practical reality. Spend some time now working through your distance learning guide and make sure that you have firm foundations in place so that you can make the most of your distance learning program. There is no requirement for you to attend training workshops or classes at Appleton Greene offices. The entire program is undertaken online, program course manuals and project studies are administered via the Appleton Greene web site and via email, so you are able to study at your own pace and in the comfort of your own home or office as long as you have a computer and access to the internet.
How To Study
The how to study guide provides students with a clear understanding of the Appleton Greene facilitation via distance learning training methods and enables students to obtain a clear overview of the training program content. It enables students to understand the step-by-step training methods used by Appleton Greene and how course manuals are integrated with project studies. It explains the research and development that is required and the need to provide evidence and references to support your statements. It also enables students to understand precisely what will be required of them in order to achieve a pass with merit and a pass with distinction for individual project studies and provides useful guidance on how to be innovative and creative when developing your Unique Program Proposition (UPP).
Tutorial Support
Tutorial support for the Appleton Greene Corporate Positioning corporate training program is provided online either through the Appleton Greene Client Support Portal (CSP), or via email. All tutorial support requests are facilitated by a designated Program Administration Manager (PAM). They are responsible for deciding which professor or tutor is the most appropriate option relating to the support required and then the tutorial support request is forwarded onto them. Once the professor or tutor has completed the tutorial support request and answered any questions that have been asked, this communication is then returned to the student via email by the designated Program Administration Manager (PAM). This enables all tutorial support, between students, professors and tutors, to be facilitated by the designated Program Administration Manager (PAM) efficiently and securely through the email account. You will therefore need to allow a period of up to 20 business days for responses to general support queries and up to 30 business days for the evaluation and assessment of project studies, because all tutorial support requests are answered strictly within the order in which they are received. This does not include weekends or public holidays. Consequently you need to put some thought into the management of your tutorial support procedure in order to ensure that your study plan is feasible and to obtain the maximum possible benefit from tutorial support during your period of study. Please retain copies of your tutorial support emails for future reference. Please ensure that ALL of your tutorial support emails are set out using the format as suggested within your guide to tutorial support. Your tutorial support emails need to be referenced clearly to the specific part of the course manual or project study which you are working on at any given time. You also need to list and number any questions that you would like to ask, up to a maximum of five questions within each tutorial support email. Remember the more specific you can be with your questions the more specific your answers will be too and this will help you to avoid any unnecessary misunderstanding, misinterpretation, or duplication. The guide to tutorial support is intended to help you to understand how and when to use support in order to ensure that you get the most out of your training program. Appleton Greene training programs are designed to enable you to do things for yourself. They provide you with a structure or a framework and we use tutorial support to facilitate students while they practically implement what they learn. In other words, we are enabling students to do things for themselves. The benefits of distance learning via facilitation are considerable and are much more sustainable in the long-term than traditional short-term knowledge sharing programs. Consequently you should learn how and when to use tutorial support so that you can maximize the benefits from your learning experience with Appleton Greene. This guide describes the purpose of each training function and how to use them and how to use tutorial support in relation to each aspect of the training program. It also provides useful tips and guidance with regard to best practice.
Tutorial Support Tips
Students are often unsure about how and when to use tutorial support with Appleton Greene. This Tip List will help you to understand more about how to achieve the most from using tutorial support. Refer to it regularly to ensure that you are continuing to use the service properly. Tutorial support is critical to the success of your training experience, but it is important to understand when and how to use it in order to maximize the benefit that you receive. It is no coincidence that those students who succeed are those that learn how to be positive, proactive and productive when using tutorial support.
Be positive and friendly with your tutorial support emails
Remember that if you forward an email to the tutorial support unit, you are dealing with real people. “Do unto others as you would expect others to do unto you”. If you are positive, complimentary and generally friendly in your emails, you will generate a similar response in return. This will be more enjoyable, productive and rewarding for you in the long-term.
Think about the impression that you want to create
Every time that you communicate, you create an impression, which can be either positive or negative, so put some thought into the impression that you want to create. Remember that copies of all tutorial support emails are stored electronically and tutors will always refer to prior correspondence before responding to any current emails. Over a period of time, a general opinion will be arrived at in relation to your character, attitude and ability. Try to manage your own frustrations, mood swings and temperament professionally, without involving the tutorial support team. Demonstrating frustration or a lack of patience is a weakness and will be interpreted as such. The good thing about communicating in writing, is that you will have the time to consider your content carefully, you can review it and proof-read it before sending your email to Appleton Greene and this should help you to communicate more professionally, consistently and to avoid any unnecessary knee-jerk reactions to individual situations as and when they may arise. Please also remember that the CLP Tutorial Support Unit will not just be responsible for evaluating and assessing the quality of your work, they will also be responsible for providing recommendations to other learning providers and to client contacts within the Appleton Greene global client network, so do be in control of your own emotions and try to create a good impression.
Remember that quality is preferred to quantity
Please remember that when you send an email to the tutorial support team, you are not using Twitter or Text Messaging. Try not to forward an email every time that you have a thought. This will not prove to be productive either for you or for the tutorial support team. Take time to prepare your communications properly, as if you were writing a professional letter to a business colleague and make a list of queries that you are likely to have and then incorporate them within one email, say once every month, so that the tutorial support team can understand more about context, application and your methodology for study. Get yourself into a consistent routine with your tutorial support requests and use the tutorial support template provided with ALL of your emails. The (CLP) Tutorial Support Unit will not spoon-feed you with information. They need to be able to evaluate and assess your tutorial support requests carefully and professionally.
Be specific about your questions in order to receive specific answers
Try not to write essays by thinking as you are writing tutorial support emails. The tutorial support unit can be unclear about what in fact you are asking, or what you are looking to achieve. Be specific about asking questions that you want answers to. Number your questions. You will then receive specific answers to each and every question. This is the main purpose of tutorial support via email.
Keep a record of your tutorial support emails
It is important that you keep a record of all tutorial support emails that are forwarded to you. You can then refer to them when necessary and it avoids any unnecessary duplication, misunderstanding, or misinterpretation.
Individual training workshops or telephone support
Tutorial Support Email Format
You should use this tutorial support format if you need to request clarification or assistance while studying with your training program. Please note that ALL of your tutorial support request emails should use the same format. You should therefore set up a standard email template, which you can then use as and when you need to. Emails that are forwarded to Appleton Greene, which do not use the following format, may be rejected and returned to you by the (CLP) Program Administration Manager. A detailed response will then be forwarded to you via email usually within 20 business days of receipt for general support queries and 30 business days for the evaluation and assessment of project studies. This does not include weekends or public holidays. Your tutorial support request, together with the corresponding TSU reply, will then be saved and stored within your electronic TSU file at Appleton Greene for future reference.
Subject line of your email
Please insert: Appleton Greene (CLP) Tutorial Support Request: (Your Full Name) (Date), within the subject line of your email.
Main body of your email
Please insert:
1. Appleton Greene Certified Learning Provider (CLP) Tutorial Support Request
2. Your Full Name
3. Date of TS request
4. Preferred email address
5. Backup email address
6. Course manual page name or number (reference)
7. Project study page name or number (reference)
Subject of enquiry
Please insert a maximum of 50 words (please be succinct)
Briefly outline the subject matter of your inquiry, or what your questions relate to.
Question 1
Maximum of 50 words (please be succinct)
Maximum of 50 words (please be succinct)
Question 3
Maximum of 50 words (please be succinct)
Question 4
Maximum of 50 words (please be succinct)
Question 5
Maximum of 50 words (please be succinct)
Please note that a maximum of 5 questions is permitted with each individual tutorial support request email.
Procedure
* List the questions that you want to ask first, then re-arrange them in order of priority. Make sure that you reference them, where necessary, to the course manuals or project studies.
* Make sure that you are specific about your questions and number them. Try to plan the content within your emails to make sure that it is relevant.
* Make sure that your tutorial support emails are set out correctly, using the Tutorial Support Email Format provided here.
* Save a copy of your email and incorporate the date sent after the subject title. Keep your tutorial support emails within the same file and in date order for easy reference.
* Allow up to 20 business days for a response to general tutorial support emails and up to 30 business days for the evaluation and assessment of project studies, because detailed individual responses will be made in all cases and tutorial support emails are answered strictly within the order in which they are received.
* Emails can and do get lost. So if you have not received a reply within the appropriate time, forward another copy or a reminder to the tutorial support unit to be sure that it has been received but do not forward reminders unless the appropriate time has elapsed.
* When you receive a reply, save it immediately featuring the date of receipt after the subject heading for easy reference. In most cases the tutorial support unit replies to your questions individually, so you will have a record of the questions that you asked as well as the answers offered. With project studies however, separate emails are usually forwarded by the tutorial support unit, so do keep a record of your own original emails as well.
* Remember to be positive and friendly in your emails. You are dealing with real people who will respond to the same things that you respond to.
* Try not to repeat questions that have already been asked in previous emails. If this happens the tutorial support unit will probably just refer you to the appropriate answers that have already been provided within previous emails.
* If you lose your tutorial support email records you can write to Appleton Greene to receive a copy of your tutorial support file, but a separate administration charge may be levied for this service.
How To Study
Your Certified Learning Provider (CLP) and Accredited Consultant can help you to plan a task list for getting started so that you can be clear about your direction and your priorities in relation to your training program. It is also a good way to introduce yourself to the tutorial support team.
Planning your study environment
Your study conditions are of great importance and will have a direct effect on how much you enjoy your training program. Consider how much space you will have, whether it is comfortable and private and whether you are likely to be disturbed. The study tools and facilities at your disposal are also important to the success of your distance-learning experience. Your tutorial support unit can help with useful tips and guidance, regardless of your starting position. It is important to get this right before you start working on your training program.
Planning your program objectives
It is important that you have a clear list of study objectives, in order of priority, before you start working on your training program. Your tutorial support unit can offer assistance here to ensure that your study objectives have been afforded due consideration and priority.
Planning how and when to study
Distance-learners are freed from the necessity of attending regular classes, since they can study in their own way, at their own pace and for their own purposes. This approach is designed to let you study efficiently away from the traditional classroom environment. It is important however, that you plan how and when to study, so that you are making the most of your natural attributes, strengths and opportunities. Your tutorial support unit can offer assistance and useful tips to ensure that you are playing to your strengths.
Planning your study tasks
You should have a clear understanding of the study tasks that you should be undertaking and the priority associated with each task. These tasks should also be integrated with your program objectives. The distance learning guide and the guide to tutorial support for students should help you here, but if you need any clarification or assistance, please contact your tutorial support unit.
Planning your time
You will need to allocate specific times during your calendar when you intend to study if you are to have a realistic chance of completing your program on time. You are responsible for planning and managing your own study time, so it is important that you are successful with this. Your tutorial support unit can help you with this if your time plan is not working.
Keeping in touch
Consistency is the key here. If you communicate too frequently in short bursts, or too infrequently with no pattern, then your management ability with your studies will be questioned, both by you and by your tutorial support unit. It is obvious when a student is in control and when one is not and this will depend how able you are at sticking with your study plan. Inconsistency invariably leads to in-completion.
Charting your progress
Your tutorial support team can help you to chart your own study progress. Refer to your distance learning guide for further details.
Making it work
To succeed, all that you will need to do is apply yourself to undertaking your training program and interpreting it correctly. Success or failure lies in your hands and your hands alone, so be sure that you have a strategy for making it work. Your Certified Learning Provider (CLP) and Accredited Consultant can guide you through the process of program planning, development and implementation.
Reading methods
Interpretation is often unique to the individual but it can be improved and even quantified by implementing consistent interpretation methods. Interpretation can be affected by outside interference such as family members, TV, or the Internet, or simply by other thoughts which are demanding priority in our minds. One thing that can improve our productivity is using recognized reading methods. This helps us to focus and to be more structured when reading information for reasons of importance, rather than relaxation.
Speed reading
When reading through course manuals for the first time, subconsciously set your reading speed to be just fast enough that you cannot dwell on individual words or tables. With practice, you should be able to read an A4 sheet of paper in one minute. You will not achieve much in the way of a detailed understanding, but your brain will retain a useful overview. This overview will be important later on and will enable you to keep individual issues in perspective with a more generic picture because speed reading appeals to the memory part of the brain. Do not worry about what you do or do not remember at this stage.
Content reading
Once you have speed read everything, you can then start work in earnest. You now need to read a particular section of your course manual thoroughly, by making detailed notes while you read. This process is called Content Reading and it will help to consolidate your understanding and interpretation of the information that has been provided.
Making structured notes on the course manuals
When you are content reading, you should be making detailed notes, which are both structured and informative. Make these notes in a MS Word document on your computer, because you can then amend and update these as and when you deem it to be necessary. List your notes under three headings: 1. Interpretation – 2.Questions – 3. Tasks. The purpose of the 1st section is to clarify your interpretation by writing it down. The purpose of the 2nd section is to list any questions that the issue raises for you. The purpose of the 3rd section is to list any tasks that you should undertake as a result. Anyone who has graduated with a business-related degree should already be familiar with this process.
Organizing structured notes separately
You should then transfer your notes to a separate study notebook, preferably one that enables easy referencing, such as a MS Word Document, a MS Excel Spreadsheet, a MS Access Database, or a personal organizer on your cell phone. Transferring your notes allows you to have the opportunity of cross-checking and verifying them, which assists considerably with understanding and interpretation. You will also find that the better you are at doing this, the more chance you will have of ensuring that you achieve your study objectives.
Question your understanding
Do challenge your understanding. Explain things to yourself in your own words by writing things down.
Clarifying your understanding
If you are at all unsure, forward an email to your tutorial support unit and they will help to clarify your understanding.
Question your interpretation
Do challenge your interpretation. Qualify your interpretation by writing it down.
Clarifying your interpretation
If you are at all unsure, forward an email to your tutorial support unit and they will help to clarify your interpretation.
Qualification Requirements
The student will need to successfully complete the project study and all of the exercises relating to the Corporate Positioning corporate training program, achieving a pass with merit or distinction in each case, in order to qualify as an Accredited Corporate Positioning Specialist (ACPS). All monthly workshops need to be tried and tested within your company. These project studies can be completed in your own time and at your own pace and in the comfort of your own home or office. There are no formal examinations, assessment is based upon the successful completion of the project studies. They are called project studies because, unlike case studies, these projects are not theoretical, they incorporate real program processes that need to be properly researched and developed. The project studies assist us in measuring your understanding and interpretation of the training program and enable us to assess qualification merits. All of the project studies are based entirely upon the content within the training program and they enable you to integrate what you have learnt into your corporate training practice.
Corporate Positioning – Grading Contribution
Project Study – Grading Contribution
Customer Service – 10%
E-business – 05%
Finance – 10%
Globalization – 10%
Human Resources – 10%
Information Technology – 10%
Legal – 05%
Management – 10%
Marketing – 10%
Production – 10%
Education – 05%
Logistics – 05%
TOTAL GRADING – 100%
Qualification grades
A mark of 90% = Pass with Distinction.
A mark of 75% = Pass with Merit.
A mark of less than 75% = Fail.
If you fail to achieve a mark of 75% with a project study, you will receive detailed feedback from the Certified Learning Provider (CLP) and/or Accredited Consultant, together with a list of tasks which you will need to complete, in order to ensure that your project study meets with the minimum quality standard that is required by Appleton Greene. You can then re-submit your project study for further evaluation and assessment. Indeed you can re-submit as many drafts of your project studies as you need to, until such a time as they eventually meet with the required standard by Appleton Greene, so you need not worry about this, it is all part of the learning process.
When marking project studies, Appleton Greene is looking for sufficient evidence of the following:
Pass with merit
A satisfactory level of program understanding
A satisfactory level of program interpretation
A satisfactory level of project study content presentation
A satisfactory level of Unique Program Proposition (UPP) quality
A satisfactory level of the practical integration of academic theory
Pass with distinction
An exceptional level of program understanding
An exceptional level of program interpretation
An exceptional level of project study content presentation
An exceptional level of Unique Program Proposition (UPP) quality
An exceptional level of the practical integration of academic theory
Preliminary Analysis
Corporate Positioning – Workshop 1 – Internal Assessment
Program students are advised to spend some time researching corporate positioning, in order to understand the purpose and benefits of this process, and how it might impact their organization. A well-thought-out product strategy is imperative to proper corporate positioning, also referred to as brand positioning. Creating a clear corporate identity in customers’ minds involves communicating a sound value proposition. How companies will position themselves in the market comes down to how they’re able to present products to different target audiences, or how well they’re able to position their products in the market. Corporate positioning and product positioning are synonymous for it is through the product that the company acquires its reputation. In our overcommunicated society, positioning is critical to brand differentiation, which in turn, directly impacts sales, profits and business growth.
Prior works on corporate or brand positioning
The concept of brand positioning was first introduced in 1969 to explain how the audience tended to omit or dismiss marketing information that it couldn’t connect to. Brand positioning was posited as a battle for consumers’ minds (Ries, Trout, 1981), and occupying a unique place in audience’s mind by creating a specific and differentiating set of associations. In their book Positioning: The Battle for Your Mind, Al Ries and Jack Trout call positioning “an organized system for finding windows in the mind.” Kapferer (1992) discusses brand positioning as emphasizing distinctive attributes to create competitive differentiation. Keller (1998) deems positioning as creating the right point of difference (unique to the brand) and point of parity association (related to the category, not to the brand). Aaker (1996), who focuses on tactical operations to build strong brands, regards positioning as the basis for brand development programs.
Davis (2000) subscribes to Ries and Trout’s description of positioning as finding a place in consumers’ minds that the brand wants to own, by conveying relevant marketing information that is unique to the brand and of value to the audience. According to Temporal (2002), positioning is critical to brand management for it uses the product’s tangible aspects to create the intangibles in the form of images in consumers’ minds. Crevens (2013) considers positioning to be the formulation of the essence of a company’s offer, indicating the company’s ability to meet consumers’ needs and preferences. The author notes that positioning should be based on reasons why consumers may want to choose the company over its competitors. Recent views of positioning point to its role in influencing a brand’s competitive market position (Guidry, 2011).
Experts emphasize that positioning should be relevant and significant to the audience, differentiated from the competition, and support organizational growth. This growth should increase the brand’s competitiveness. Hooley et al. (2001) find that superior performance is associated with more distinctive, and generally high-quality brand positioning. According to Suzuki (2000), positioning has a significant effect on profit, while Miles and mangold (2005) establish a link between brand positioning and firm success in the marketplace using an ‘employee branding’ positioning strategy. Romaniuk (2001) says that a well-positioned brand strengthens brand associations through marketing communications. Positioning that is in sync with attributes consumers prefer tend to achieve better outcomes as customers identify with the positioning and attributes, and consider them important in making purchase decisions. Lovelock and Wirtz (2011) explain that preferred attributes that inform customer decisions can be understood as positionings of products and services that align with managerial and customer expectations. According to Blankson (2016), there are greater commonalities between the concept of positioning and branding than researchers have attempted to associate. Successful positioning enables brands to draw on their strengths for improved performance and effective brand management (Esch, 2010; Hooley, Piercy & Nicoulaud, 2012).
Urde and Koch (2014, p. 482) distinguish between two approaches in positioning: market-oriented and brand-oriented. The market-oriented approach defines and implements the positioning through customer and stakeholder perceptions of brand image. Here, there exists a strong link between the positioning and customer/stakeholder preferences. In the brand-oriented approach to positioning, brand identity serves as a key point of reference, considering how the brand identity may be influenced by the mission, vision and values of the organization.
Brand position is affected by the company’s activities
Urde and Koch (2014) observe that, in general, all established brands have a position. The company’s activities and choices affect the brand position. The actual position of a brand may be clear – at least to some extent – in the market for its target audience, and it may more or less match the company’s intentions.
How a company brands itself affects positioning, and the positioning achieved – whether intentional or accidental – affects branding. According to de Chernatony (2009) and Blankson (2016), effective deployment of positioning strategies creates a means for developing preferences for a company’s products and services over its competitors. Ghosh and Chakraborty (2004) say that efforts should be made to minimize the degree of uncertainty when using positioning models, to measure and manage brand uncertainty, so as to increase chances of branding and implementing the value proposition successfully.
Positioning is a foundation of marketing. Some consider marketing as the art of positioning, and the marketer’s job being to position the brand in a distinctive way with power and consistency. The real work of marketers is not building the brand but defining, clarifying, capturing and maintaining the position.
The brand position comes into play at the time of selling, where it needs to be reduced to a single thing that stick’s in consumers’ minds. It takes on an importance that outweighs any functional benefit that the brand may provide.
The modern consumer receives product information on multiple channels. The vast amounts of information targeted at audiences can create a mental clutter, making it more challenging for brands to situate themselves in consumers’ minds. Brands should strive to help consumers situate the product within consumers’ existing frame of reference.
Importance of corporate positioning: A healthcare perspective
1. Convey a unified understanding of the brand
To target patients and engage them effectively, healthcare companies must communicate what they have to offer in relation to the market and translate the product/service benefits into meaning for consumers. Understanding what people want and how best caregivers can provide is at the heart of the corporate branding exercise. Given how healthcare organizations are under pressure from regulatory constraints, mergers and acquisitions, and demands to demonstrate ROI, a compelling and consistent brand position will allow the organization o grow successfully.
2. Capture market share
Marketing results can be improved by moving from mass marketing to target marketing strategies. Mass marketing does not take individual preferences into consideration and addresses the masses as a whole. Target marketing takes into account the different wants and needs of customer groups. It consists of three interrelated activities: segmenting the market into groups with common characteristics, selecting segments on which to focus, and evaluating and promoting service-related features to encourage target groups into choosing the organization or maintaining their loyalty. Corporate positioning emphasizes providing a meaningful interpretation of products and services, to different customer segments, as well as to suppliers and physicians. By catering effectively to all ecosystem members, healthcare organizations can improve performance, patient experience and financial performance. By attracting new patients seeking care service, partnering with the best suppliers, and improving competitiveness in the war for talent by hiring top-notch physicians, the organization can grow its brand influence as well as market share.
3. Quickly seize opportunities to grow top line revenue
By approaching growth strategies proactively, healthcare companies can strengthen their corporate positioning. Organizations that align positioning with product strategy are better poised to take informed decisions around pursuing opportunities and creating meaningful value propositions. They can move ahead in areas that can benefit from local market trends, such as offering a new service line (ex: ambulatory) or online health and telemedicine options, in a streamlined way. Across primary care, customer service, and partnerships with non-traditional providers, healthcare organizations can leverage opportunities to build trusted relationships with populations, build organizational potential, manage operational pressures, and enhance the ability to anticipate future market trends.
Importance of corporate positioning for the medical devices industry
1. Increasing competition
Companies that operate in fast-growth sectors such as medical devices need to create product/service perceptions that win them favor among their key audiences. Generally, all companies, regardless of their sector, face the challenge to stand out because of the rapid pace of innovation and disruption that creates a market churn, often giving innovators and agile companies the advantage. The time to market for innovative products has decreased and first movers capture attention and come to dominate the market for that particular product/service. But first-movers also have to contend with competitors that come out with improved products, indicating that the early mover advantage isn’t as big as expected. With the lifecycle of new technologies becoming smaller and continuing emergence of competitors who may be small in size but more technologically proficient than their established peers, the need to not only create brand differentiation but also remain flexible to updating brand image, is evident.
2. Greater market transparency
The internet and social media have revolutionized content dissemination. A company can promote and position itself on several channels, creating brand cohesion and creating product perceptions that, as their market and competitor research finds, can attract customers and increase sales. However, the actual product experience may be different from what the company promotes, or it can be similar to an existing product in the company range, causing some confusion about the value of or even the need for the new offering. These competing factors are very likely to appear in online customer reviews, calling into question not just the brand positioning but also strategic product development. This is why, the first stage of positioning involves an internal assessment requiring inputs from different organizational departments.
3. Powerful intermediaries
The proliferation of medical device distribution channels and increasing power of suppliers and online intermediaries, has forced companies to rethink their role in delivering customer value. While more avenues for product distribution are helpful for brand exposure, they also create new competition. Companies today have to promote their offering to intermediaries (push marketing), and also need a robust pull strategy to encourage the final demand among end users. Brand positioning is affected by the push and pull, requiring companies to make careful, data-backed marketing and sales decisions.
4. Arbitrary choice
Tougher choice tasks are the unintended consequences of improved products or more distribution channels. For example, novel products with multi-dimensional prices are tougher to comprehend, while the large number of substitutes also introduces complexity into shopping. Ease of comparison is helpful from the consumers’ point of view and creates an advantage for companies that can convey their unique benefits easily and lucidly. That said, consumers’ choices can be affected by a multitude of factors, ranging from the psychological – preventing them from making rational trade-offs – to the gap between perceived and true quality, which influences the extent of ‘exploitation’ consumers’ feel with regard to the brand.
Importance of corporate positioning for the pharmaceutical industry
1. Sets the direction for product/service development
Developing clear answers for questions and how the service/product will support the organization’s overarching strategic goals, is essential to planning and development. A strategic planning process is necessary to deliver on goals and define an effective corporate position in the market. As an example, in the pharmaceutical industry, in the 1990s, the product planning, research and development process evolved, leading to Target Product profiling (TPP). It was premised in starting with the end in mind: defining the right label for a proposed drug, and then setting up a clinical development program, research and development protocols, and a resource allocation strategy to deliver on the drug. The world’s top pharma companies adopted the concept and created their own TPP processes.
2. Create brands very early in the product development process
Pharmaceutical companies have not been proactive in developing brand identities for their products and communicating this identity to consumers (Schuiling and Moss, 2014). They have lagged behind in market research to determine their identity in the market and determine if this is how customers view them. In the pharmaceutical industry, product positioning tends to occur later in the development process when the marketing department gets involved. Pharmaceutical companies have historically relied on doctors to act as brand ambassadors. Changes in the industry, and a switch to over the counter (OTC) drugs have made it important for pharma companies to brand their products and reduce reliance solely on sales representatives and doctors to get prescriptions filled and drive sales. Moreover, tiered co-pay structures have given patients more choices in branded drugs versus their generic counterparts. Defined contribution health plans have also given consumers more choice around how they wish to spend their healthcare dollars. These factors, along with an increasing competitive environment, require pharma companies to consider new competitive advantages. Corporate positioning is an effective tool in this regard.
3. Explore new territories with patient insights
Traditionally, pharma companies have focused on clinical benefits in corporate positioning and haven’t paid sufficient attention to core benefits and the real impact of the drugs in patients’ lives. As a comprehensive process that invites participation from different organizational departments, corporate positioning makes room to become familiar with the voice of the patient. There are many ways for pharma companies to learn about how patients are living with diseases and how the drugs are realizing their intended outcomes – beyond physicians’ interpretation of the impact. They can get right into the context of customers to gain richer details and a deeper understanding of needs. This effort can pay off in drug discovery and development, and in positioning products to customer-specific benefits.
Importance of corporate positioning for the biotechnology industry
1. Increasing success rate of products: The complicated nature of product development in the life sciences industry is well-known. The failure rate is high, the costs of R&D investment are substantial, and data requirements in regulatory filings have increased. Even as molecules move through phases of research, attrition rates in the clinical trials stages can be as high a 90%, even after molecules have been eliminated during previous stages. Better alignment between product strategy and corporate positioning can help biotechnology companies make better-informed investment decisions and allocate dedicated resources towards developing value-added products and services.
2. Capitalize on industry trends: The biotechnology industry is affected by various drivers. Technical drivers have increased competitiveness by improving access to modern tools of biotechnology and making it possible to develop new products at a faster rate. Economic drivers underlying the development of new biotech products have also undergone rapid change. There are more avenues for capital, beyond government or private sector funding; crowdfunding websites like Kickstarter and Indiegogo are coming to the aid of small biotechnology companies and start-ups. With a prior understanding of how to position products within their market segment, biotech companies can readily manage industry trends, capitalizing on opportunities and mitigating the potential impact of threats from new entrants. Additionally, they can evaluate the business advantages and economic impacts of addressing societal challenges such as climate change and food security.
3. Leverage new opportunities to improve margins
In a landscape of price wars and price erosions, biotechnology companies are realizing the benefits of differentiating their offerings and focusing on value-added products and services across the board. At the same time, cost containment pressures require companies to employ effective cost optimization measures. In order to optimize internal spend while generating an average or better return on R&D spend, biotech companies are adapting processes to changing market conditions. A comprehensive view of resources, capabilities, processes and market opportunities – enabled through the positioning process – can help cross-functional collaboration and produce well-orchestrated strategies.
Collaboration between product and marketing teams necessary to formulate a strong value proposition
Where before marketing teams and product teams more or less operated in siloes, they’re now teaming up to co-create the value proposition. Product positioning should be a cross-departmental mission linked to the overall mission of the company. People who work together and understand everyone’s roles and contributions are able to see the big picture, and the company’s broader mission. The company carries the responsibility to provide the necessary resources that make integration between departments possible for effective product positioning.
Feedback and assessment improve product strategy
Several considerations come into play when introducing a new service or product. The product department must know why they’re building the product. The product vision unifies all departments and guides them in the same direction.
Continuous change, and new data and insights make it critical to keep all stakeholders in the loop. The product should align with the existing direction of the company, not threaten another product in the same range, and provide a clear economic value to the consumer. Effective collaboration between production and marketing can aid a complete understanding around the product, including whether or not a product variant or service level is needed and meaningful in the first place.
Data and insights are foundational to product strategy and positioning
User insights are one of the elements of a product strategy framework. How are customers leveraging other products in the range? What is the frequency of usage? How are similar products or services in the market performing? Based on these insights, the product team can determine features, add-ons and other product aspects that enhance value for the user. How will customers use the product? What pain-points will the service solve for users? What are the possibilities for product innovation and what is the likelihood of an improved product entering the market? What laws or regulations can affect the product? Buyer patterns in key segments, external factors, and emerging trends and developments also inform product strategy.
The bottom line is that number of questions can be envisioned in deciding the route product development should take. Both marketing and development can refer to their existing market, customer and competitor intelligence, or conduct necessary surveys, interviews and analytics to take realistic actions. It includes considering the impact of product development on the company’s resources and different departments involved in the process. Decisions based on data and insights can mitigate risks and improve chances of product success.
An opportunity to identify challenges faced by departments
The product strategy factors in many variables, including those that dictate the feasibility of introducing a new product or service. Participation by stakeholders from various departments in the corporate positioning process brings into sharp focus the constraints faced by company departments. These identifications are important as addressing constraints can prevent issues down the line and support innovation.
Most companies deal with cost constraints. Development cost and production cost need evaluation. A lack of resources and a strain on development capacity should also be part of the overall product assessment. Determining good priorities for resources and allocating them to the right tasks at the right time can shorten lead times and keep development on track.
Specific inventory management challenges can also get in the way of streamlined production. Depending on the industry, supply chain visibility or inefficient processes and tools, can affect smooth delivery of services or launch of products. Managing constraints assumed even more importance when product revisions or updates must be performed quickly in response to consumer feedback.
Different stages of corporate positioning
Corporate positioning is a multi-dimensional process and occurs in different stages.
Objective assessment with inputs from all departments
The first stage involves an initial assessment and participation of all the departments of the company to create a compelling value proposition. How will the company distinguish itself? For a healthcare organization, this might mean increasing consumer choice, improving consumer engagement, and enhancing consumer experience. For the medical device companies, it might mean bringing out an innovative product that satisfies an identified need. As safety is a key indicator of product/service success in healthcare, biotech and related industries, a sound deliverable strategy is paramount. During this phase, the company will identify deficiencies that increase the gap between product/service expectations and deliverables.
Inputs from all departments are necessary to this investigation. On its own, sales and marketing cannot determine all aspects of the product plan and its alignment with corporate objectives. For example, the medical device development team can say whether or not the envisioned product expectations are realistic, and if so, what are the quality benchmarks against which product success can be measured? The expertise and experience of the product team is important at this stage as it will lay out the facts on whether or not a functionality is possible. This will allow adjustments in expectations in the early planning stages and avoid issues in the subsequent stages of value proposition and product development. This is also the stage that will offer insights into the question ‘where are we and where do we need to go?’. For a healthcare organization, that might translate to understanding deficiencies in key services, and examining the corporate mission and vision to ensure that the new service remains consistent within this framework.
The initial assessment may necessitate going back to square one or challenging assumptions. Without early deliberations, execution is likely to fail or at least, face roadblocks that waste time, money and resources. Moreover, unless expectations are outlined and adjusted, customer validation and competitive market plans can go haywire and disrupt the implementation of the value proposition plan.
Setting goals and collecting market data
In this stage, companies will dig deeper into the target audiences. What are the target market segments? What are their demographics? What are their worldviews and values? What unique value proposition are they looking for? How quickly can we reach our primary target audience? The appropriate audience assessment methods and tools will also be simultaneously determined. An understanding of target audience segments will allow a discussion into the tangible and intangible benefits that the company should indicate in the value proposition. In the healthcare industry, it may also involve going beyond the patient-customer relationship to understand how to deliver value across the care value chain. For example, one area that can be explored is empathizing effectively with family members who may be impacted following the medical emergency of a loved one. Scenario planning can be a means of doing a deep dive into key goals and objectives.
Companies in the healthcare, pharma, biotechnology and medical devices industries have the opportunity to leverage data as a competitive advantage. Relevant patient and market data is vital to frame and improve the key value statements. A comparison of the value statements against competitors’ offerings is also necessary. Additionally, as the value proposition is refined, its impact on internal operations and individual departments must also be considered. Even as the focus is on capturing market trends and unmet customer needs, product/service positioning should contribute to the company’s financial performance.
Analyzing data and framing value statements
In this phase, the market and buyer data will be assessed to identify trends, patterns and key insights. It will be shared with decision-makers from all departments to improve understanding around the findings. After feedback has been gathered, the findings are presented visually (ex: trend modelling) to ensure that everyone can grasp the assessments. A formal presentation is then delivered to all stakeholders. Here again, there is opportunity for stakeholders to present more outputs or for rectifications. After the required changes are incorporated, the reviewed data can be deemed a reliable reference for the preliminary value proposition plan.
The next step is creating value statements, which guide customers’ perceptions about the company and also represent the company’s thoughts and opinions about itself. In a healthcare setting, the value statements provide a common purpose and promote shared values. To ensure assurances to the patient and caregiver, value statements should state specific benefits clearly, and where possible, quantified. As an example, if a planned service improves patient-centered care by increasing nurse involvement, it should also enable nurses to embrace a best practice easily, save them time or provide an economic benefit to the care unit. By associating the value segments and expected outcomes, companies can plan products and services realistically, ensuring it delivers as promised. The value statements for segments should not be set in stone. They should include the possibilities but also be flexible enough to be modified, allowing changes to the service/product before it is officially launched.
Reviewing value segments and gaining feedback from user base and third-party evaluators
In this phase, individual value segments are reviewed individually and collectively. There are several elements of value, from functional, usability and performance factors to emotional, life-changing and social impact factors. If one or more of the claims around value are likely to matter less in observance with market trends then the appropriate change or elimination should occur. A SWOT (strength, weaknesses, opportunities, threats) analysis can reveal which value statements stand, which ones need to a second look, opportunities to enhance value and potential obstacles to delivering value and the segments they affect. If any claims cannot be realized, given the current company position and circumstances, it should be reworked immediately. The purpose is to focus on value segments that can make the biggest impact on the customer/users/buyers.
Testing product performance claims with a defined set of the target audience is the other key activity that will occur in this stage. A routine activity in virtually all sectors, testing offers the company an opportunity to iron out issues before commercial launch. Although assumptions are tested in previous stages, they are confined to internal opinions. Inputs from users and customers can validate or challenge internal assumptions. If decision-makers from departments have provided judicious feedback, the preliminary plan may require only minor changes after user/customer feedback has come in. If not, the company can still make use of the second opportunity to incorporate changes prior to roll-out. At this stage, an independent third-party evaluation is also useful in further improving the preliminary plan and address any aspect that has been overlooked in the early phases.
Solving issues and implementing solutions
It is imperative to address issues and bring out a sound value proposition plan that aligns to all the original goals and objectives. Teams should contribute to improvements and feel comfortable that all aspects of the value proposition have been adequately addressed. For the near future, the proposition will apply and deliver the desired outcomes. As the product/service matures and new industry trends emerge, value segments will be affected. At this stage, however, there should be confidence about the plan’s viability. The product/service is then delivered in phases, so as to receive feedback and incorporate changes quickly. Upon receiving positive response from key segments, the rollout can commence to all segments. But feedback will remain activated throughout, via online and offline methods. Leadership should be also kept in the loop, and discussions should revolve around how the product/service may have begun contributing to overall corporate goals.
Tracking activity and improving continuously
The success of the product/service and corporate positioning should be measured using appropriate KPIs. The marketing team must include social listening, website engagement, review websites, and how online conversations translate to measurable value. The assessment should be shared with all stakeholders. Data on program performance is important in improving products and services down the line, and in crafting value propositions for new target segments during a market expansion. Incremental improvements can add up to a big change and refine the corporate positioning methodology.
Course Manuals 1-12
Course Manual 1: Internal Analysis
Customers worldwide have become highly informed and demand that companies deliver value. Market and technologies continue developing relentlessly, requiring companies to adapt quickly and utilize new skills to build innovative products, highly customizable solutions, or provide enhanced care in tune with evolving needs and expectations. Disruptive forces also threaten the dominance of industry leaders. In an environment of constant change, and considerable regulatory burden, companies in the healthcare, pharmaceutical, biotechnology and medical device industries must assess risks and opportunities along their journey to build capabilities and position products/services effectively.
Analyzing product features
Product or service features are areas of functionality, performance and usability that deliver value to users. The internal analysis will begin by setting expectations around the product/service features, without which it cannot be positioned strategically. Each feature comprises of specific elements.
– The task or action that users need to perform and how the product assists them in it
– The pain point or challenge experienced by the user that the feature solves
– The benefit or value to the user
– The broader product/service goals that the feature ties into
– The high-level effort that the feature aligns to
An effective, consistent and repetitive method for defining and describing features is useful in undertaking internal analysis. The method should be such that it can also link each feature back to a key business objective. To maximize value, product features should first be prioritized. They will be examined based on the tangible and intangible ways in which they will add value for users. They should also be prioritized based on the extent to which they fulfil business objectives. In outlining expectations for the features, certain inquiries need to be made. Which customer segment is served by the feature? What is the purpose of the feature? What does the feature help the customer achieve? What specific pain point does the feature solve? What is the desired user experience for the feature? How does the feature interact with or enhance existing features? A clear understanding of features that can be delivered – given the company’s existing resources and capabilities – is vital to frame a realistic yet effective value proposition. Even the most innovative products need be to be positioned in a way that creates or enhances brand recognition, which is required to build or expand the customer base, and encourage brand loyalty. Proper corporate positioning sets the company up for long-term success, affecting revenue, margins and competitive advantage.
Creating and communicating the value proposition is not just the job of the sales and marketing department. For alignment to occur between product strategy and positioning, and to ensure consistency with the overall corporate strategy, an all-hands-on-deck approach is necessary. In other words, interdepartmental collaboration and cooperation must be integrated into the corporate positioning process, right from when it is undertaken.
Inter-departmental collaboration
An internal analysis of competencies, cost position, competitive advantages is an essential first step towards informing product strategy and positioning. The insights and outcomes of the initial analysis will depend on the extent to which the company is able to involve decision-makers from different departments in the process. Factors governing inter-departmental collaboration in a company include:
Corporate culture: What are the team dynamics of the company? How often do departments cooperate on strategic or operational initiatives? Do departments take a reactive or proactive approach to problem-solving and program planning? These are some influencing forces that guide the direction of teams’ and individual employees’ behaviors and performance.
Interdependence: Depending on the business model, what is the extent of interdependencies between different departments? A high degree of dependency will naturally encourage collaboration, while departments that operate in siloes or are otherwise not tightly integrated with other functions are less likely to collaborate often or closely. If the company’s product, sales and marketing, finance and other departments work loosely with one another, strong collaborative relationships may be unformed.
Team vision and strategy: Are team or department members clear on the company vision and clarity, including how they can work as a cohesive group to achieve the overarching corporate vision? Additionally, do they have a clear understanding of tools, policies and procedures that make inter and intra team interactions more transparent, inclusive and objective? When team members accept their differences and interdependencies, and feel safe to behave in transparent ways, collaboration comes naturally and delivers meaningful outcomes.
Human factors: It is also important to consider the psychological determinants influencing collaboration. Professional groups within the company may have distinct cultures corresponding to their professional identity, specialized training, and roles within the organizational system. Differences in power between professional groups, and conflicting priorities can impede collaboration. A lack of mutual respect and trust, along with poor communication also defines the psychology of healthcare teams.
If the existing collaboration levels are not where they should be, the company should explore reasons holding departments back from sharing insights on strategic initiatives, including value proposition planning and implementation. As an immediate measure, companies can facilitate consistent communications by providing departments with a central portal that informs them about company-wide programs, or tools for knowledge sharing and automatic notifications that make the right information available to everyone at the right time. Shaping corporate culture for close collaboration is a leadership responsibility. It should be planned and promoted from the top, and actively managed by decision-makers down the hierarchy.
Tools for internal assessment
Internal assessment can be aided by tools to carry out the process in a defined, structured way. The choice of tools depends on what the participants are expecting to uncover or establish. Some assessment tools are specific to the industry, but they may be used as inspiration by other sectors. Here’s a look at the common tools used for internal assessment.
SWOT Analysis: The strategic planning tool is used to identify strengths, weaknesses, opportunities and threats related to projects, initiatives, programs and competitor analysis. Its simplicity makes it a popular choice for internal and external assessments. From the context of developing the value proposition, a SWOT analysis can help identify deficiencies that affect deliverables. When the actual product or service does not do justice to the value statements for one or more target segments, then then the claims will be dismissed and outcomes from the program can suffer. By taking cognizance of inherent weaknesses early on, expectations can be appropriately adjusted and efforts made to plug the identified weaknesses.
GAP Analysis: A GAP analysis is used to examine the company’s/product’s/project’s current performance, and identify differences between the present state and where you would like the company/product/project to be. It can pinpoint the largest gap between what is required for product development versus the current level of performance. In this sense, it can focus on the existing resources and competencies, identifying what needs to improve and by how much, in order to deliver the envisioned product or service value, and achieve the desired positioning. A company may perform gap analysis for a number of reasons: benchmarking product or reputation against the competition, analyzing the portfolio to identify new sales opportunities and new products to sell, detect the shortcomings of processes, find the usage gap between the current market size and for a product/service, and the potential market size.
McKinsey 7S Framework: This tool evaluates a company’s organizational design. It is used to show how organizational effectiveness can be achieved through the interaction of seven key elements: strategy, structure, systems, shared values, skills, style and staff. The tool is reliant on internal factors and processes and does not take into account external influences on the company. It is useful from the point of view of improving alignment between different departments, or between departments and processes, both of which are advantageous to product strategy planning and execution.
Core competence analysis: Every company has unique attributes and specific strengths that differentiate it from competitors. By capitalizing on core competencies, companies can strengthen their competitive advantage. This tool maps competencies such as knowledge, skills and resources that create value for the customer. Companies can focus their strategies on what they do best. The approach can also be used alongside other tools or frameworks in determining areas in which the company is lacking, so as to work on those that can be realistically pursued in service of the larger strategic goal or vision.
Organizational Capacity Assessment Tool (OCAT): The tool was designed for non-profit organizations seeking to evaluate their internal environment. It is used to develop the organization’s baseline and periodic capacity assessments. The dimensions of organizational capacity include leadership, strategy, governance/structure, skills, human capital and accountability. The tool helps companies reflect on their processes and functions and follow it up with action planning for capacity improvements.
Taking a realistic view of capabilities and existing organizational circumstances can avoid misunderstandings around the actual product/service benefits. As an example, a positive cost/benefit proposition from a medical device manufacturer may fail to resonate with customers owing to the following reasons: the cost/benefit may relate to indirect costs, the cost/benefit advantage may not benefit the entire hospital, or the product adoption may indicate potential for reduced headcount and therefore be resisted.
It is also possible for the value proposition to be actualized by one customer by not the other. This occurs when the device does perform as claimed but the advantage is not experienced because of one or more prevalent conditions facing the customer. Imagine a medical device that reduces procedure time but it is not being realized by the hospital due to bottlenecks emerging from adding cases or volume.
As much as possible, the value proposition should show a clear link to desired outcomes, such as establishing a link to patient compliance and impacting patient outcomes. Product/service features that plainly appear to offer a specific, valued advantage, such as improving efficiencies, may be perceived as irrelevant or even a threat to the target customer. A comprehensive, objective analysis of the product expectations versus deliverables in the early stage of the positioning program can alert marketing personnel on such outcomes in order to frame the value proposition more compellingly, and to avoid highlighting trade-offs that matter a great deal to customers.
Planning and positioning across the product lifecycle
Every product has a lifecycle. It goes through the following stages:
Market development: A product hits the market to fulfil a need. It is backed by market research, although it is not proven technically in all respects. Product sales move along slowly. When product development and positioning is customer-oriented and recognizes the company’s current capacity, it creates conditions for sales and profit growth.
Market growth: Demand begins to grow and the total market size increases. This is when the focus is on compelling your target market to prefer your brand and boost consumer acceptance, upon which your product starts to take-off. Competitors start entering the fray to cash in on what they perceive to be a profit opportunity.
Market maturity: Demand levels off and sales continue growing but at a declining rate. The stage is characterized by intense price competition and attempts to remain the preferred brand through finer differentiations across all aspects of the product/service, such as promotional material and customer service.
Market decline: The product’s appeal wears off and sales start their downward climb. It occurs as a result of competition from newer, better or more innovative/disruptive products. Product maturity is often marked by industry transformation.
Here too, the marketing executive can make certain inquiries. To what extent can the duration of each stage of the product be predicted? What are the best ways to determine the stage of an existing product? How can these insights be put to effective use?
New product strategy should attempt to predict the nature and timing of market and competitive events. Making some deductions, even if they’re proven inaccurate, is better than not doing any forecasting, for you will have plans to address market or competitor moves. By estimating the length of a product’s life, decisions on pricing and third-party relationships can be better informed and implemented proactively as required.
The assessments are also important because at each stage in the product’s lifecycle, the competitive requirements of the next stage must be considered. By developing a strong product or corporate positioning in the market growth stage, the brand will be cushioned against price competitions later. Planning for future product lifecycle stages also avoids advertising pitfalls. Your campaigns may appear successful from a short-term perspective, but be inconsistent and hurt your brand in the subsequent stage of the lifecycle.
The pre-planned positioning program for product/service introduction should be able to accommodate unexpected events and revised judgments. Incorporating changes is smoother and less stressful when the program is a joint effort involving decision-makers from all departments. You’re in a better position to make improvements in a proactive way rather than constantly reacting to things that are occurring.
Aligning product positioning and business strategy
Empirical research suggests that a close alignment of the new product development to business strategy is important to the product’s success. Product development activities must make sense in relation to the company’s strategic business activities and their outcomes. The business strategy activities should also make sense in relation to the new product process and its outcomes. If this mutual alignment occurs, then the new products created and the knowledge they generate, extend current strategies or inspire future strategic initiatives. Outcomes of the new product development process can be integrated into strategic planning and implementation, adapting the strategy to emerging trends in the company’s internal and external environments.
It is seen that companies whose new product development programs are closely connected to business-level strategy are able to develop new products/services that leverage core competencies and learned insights, and also make the most of existing systems, structures and knowledge. On the other hand, a lack of a strategic fit has been observed to lead to product failure.
Consider a scenario when your product development is not aligned to business strategy. Your positioning plan for a new product can go off course and miss out on windows of opportunity. As the program is not linked to the company’s strategic direction, the deviations are not noted and rectified in a timely manner. Organizational resources keep getting utilized at an economic cost to the company, and you also incur a high opportunity cost.
There is also such a thing as product development being too closely connected with business-level strategy. Its consequences include stifling creativity (never knowing what might have been), disregarding new technologies, and overlooking potential markets. Product development and positioning activities should be appropriately aligned with strategy to drive innovation and utilize resources efficiently.
This course manual includes learnings on integrating product development with strategy. As an organizational activity, product strategy and positioning can impact business strategy in three ways:
1. The product positioning process itself can serve as a source of competitive advantage. It can be structured and implemented such that it is more efficient and effective than competitors’ approaches.
2. By utilizing the outputs and insights from the product positioning process into strategic decisions, decision-makers can more effectively adapt the company to its dynamic environment. The knowledge can be about markets, technologies or both.
3. New product development often leads to the creation of new capabilities and competencies that can transform the company and improve its strategic direction. This is particularly significant for dynamic, innovative and heterogenous sectors.
As an example, rapid innovation in the medical devices industry and higher expectations around the quality of healthcare delivery are forcing companies to create value propositions through meaningful product and service innovations. Sustainability and growth are dependent on how well companies anticipate market opportunities, and acquire the capabilities needed to adapt to market dynamics. Product development activities can create strategic organizational capabilities necessary to successful transformation.
Communicate a consistent brand message
A company’s mission and values reflect in its products and services. The value proposition in marketing messages and advertising campaigns bring attention to what the brand stands for, creating the desired image in consumers’ minds. When planning a product/service, due consideration is paid to how the value it provides is in sync with the company’s overall image. This will naturally influence product positioning, the objective being to remain harmonious with the overall picture of the brand.
Therefore, internal analysis will involve determining if the product value is linked to existing or planned products. If apparent, then it can be highlighted in the value proposition to reinforce the corporate positioning. It is possible that you’re coming out with a service or product for a new line of business. Internal analysis will reveal the points of commonality and differences between the new and existing offerings from your company. They can be exploited to position your brand in a way that meets your strategic business goals, whether that’s capturing a new customer segment, expanding market reach, or reinventing your brand.
Outlining expectations and examining value also allow the sales and marketing teams to start brainstorming their messaging with the right information. Messaging briefs and templates can be planned with the correct idea about product value, leading to better results when the full value proposition has been framed. Sales talks can also track the marketing promises, strengthening alignment between these two functions. You can frame an effective sales battlecard – a summary of your products, markets, customers and competitors – that provides sales personnel with sales-ready responses to the most important customer needs, and most frequently posed customer questions or objections.
Sales and marketing today occur across several digital channels. When consumers encounter your company on different channels, perceptions around your product/service start forming. When positive, they encourage your audience to take the next step – fill an online form, call the marketing manager, request a pricing plan, and so on.
Defining and linking product value is also useful in the next stages, when you will set goals for the value proposition plan based on the specific target audiences that benefit most from the product. Clarity on product value will enable you to effectively create and use buyer personas.
Course Manual 2: Define Issues
At the end of the corporate positioning training program, you should have become familiar with how you can align brand positioning and product strategy. One of the parts of achieving the alignment is addressing issues that may affect product performance, usability, functionality and other aspects that are integral to the value proposition.
The previous manual advocated inter-departmental collaboration on identifying deficiencies in organizational capacity in relation to new product development. The next phase is to flesh out the weaknesses and determine their impact in achieving the desired product/service outcomes.
Mapping issues to uncover solutions for future development and positioning
Issues identified during the initial assessment must be considered to ensure that the value proposition presents an accurate picture of the product’s benefits. If the issue pertains to a risky aspect of the product/service, then care should be taken to omit the particular feature or outcome in value statements. The goal of the value proposition is to communicate how the customer will find the product or service useful. It should not send out mixed messages or raise a red flag.
For example, if the product will introduce efficiencies or enhance patient satisfaction, its higher price tag, which will add to client’s costs, should not be referred to in the value proposition. This is a generalized instance – the more complex or feature-rich your product, the higher the possibility of trade-offs that might even lower the overall value proposition. By uncovering issues in the early stages, the marketing team can frame messages intelligently to generate interest among the target audience and convince them to engage more closely towards the final sale.
Flaws in the product strategy are also important for the development team and other departments to understand. Perhaps the issue can be traced to a lack of capital costs, which is a matter for the finance department or senior management to ponder over. Systemic issues may also be at the core of deficiencies, and include the following:
Lower utilization of resources: Capacity utilization is an important factor impacting performance in the manufacturing industry. When it is above 98%, then speed, efficiency and even output quality is positively affected. However, higher utilization of resources is not a silver bullet for product development success. It should be examined in the context of the particular industry and product/service.
For example, in the manufacturing industry, adding 10% extra work will require 10% extra time to complete, but in a sector where processes have high variability and aren’t repetitive like manufacturing, adding 10% more work may lengthen completion time by 80% or more. When the work is unpredictable, associated with high variance, or if the inventory involved isn’t physical objects such as raw materials and tools, rather information such as test procedures, results and design documentation, then simply increasing employees’ work won’t cut it.
Is increasing capacity the answer? Not necessarily, because it may increase lead time. Consider a situation where you’ve carved out a separate team to run some aspects of your drug experiment in order to assist the core R&D team. The testing resources may take more time to get the results of the tests that took the R&D team lesser time to perform. So, even while the additional resources resulted in more testing and experimentation to drive greater innovation, they hindered the unit’s progress.
When the issue is complex, many considerations must be made, and a reasonably effective solution may take long to plan and implement. However, for the purpose of the corporate positioning initiative, the discovery of the challenge is adequate as it will allow informed decisions on how the product should be developed and marketed.
A lack of infrastructure: Companies in the healthcare, medical device, biotechnology and pharmaceutical industries face cost challenges. The average hospital faces myriad issues ranging from readmissions and a lack of care coordination, to duplicate tests and inappropriate utilization of resources, which increase total costs, while Medicare decreases payments to physicians.
The pressure to enhance quality of care means that companies cannot make decisions taking cost optimization as a priority. Investments in human resources and technology infrastructure are needed to deliver higher quality of care. The coronavirus pandemic has further emphasized the need for hospitals to be infrastructure ready and scale up talent capacity.
Raising the quality stakes and achieving the targeted cost recovery is easier said than done. Effective hospital revenue lifecycle management techniques, and leveraging growth opportunities in patient care, can help optimize costs.
A lack of senior management support: Do senior managers support managers and teams working on core product/service development activities, in various ways and various situations? The direct involvement of senior management contributes to stronger momentum behind new product ideas (Murphy and Kumar 1997; Lauto et al. 2013).
Product positioning is the responsibility of product managers and marketers. Senior management’s role in product development and positioning is usually limited to green-lighting investments in resources. However, they can also clarify project objectives and contribute towards creating vision statements. Their involvement can minimize bureaucracy that impedes constructive actions in the product development and positioning process. Senior management that champion an initiative provide support in different ways to keep the program on track, and stakeholders informed about changes in company policy or direction that may affect the program.
Management’s role can also be envisioned in aligning product and corporate objectives. Senior managers don’t have to be hands-on, but they can sign-off on activities and be available to provide high-level inputs or feedback on reports from the marketing and product teams.
Weak project management capabilities: Effective program management affects how the product is defined, facilitates strategic alignment, clarifies project objectives, and promotes teamwork. A company that lacks project/program management skills will struggle to move the initiative successfully through its various stages and sub-phases.
Project management assumes the most importance in the beginning stages, when activities and goals are being planned to be set into motion in subsequent stages. The program will inevitably suffer if there are no formal mechanisms or a competent manager to initiate communications, lobby for resources, manage technical problems, request senior management for inputs, and oversee and address roadblocks in creating a compelling value proposition.
Ineffective project management also hinders a steady stream of innovative talents and fresh ideas from emerging. For a company trying to come out with an innovative product or challenge leaders in a crowded market segment, weak program management capabilities can prevent even the best ideas from delivering on their commercial potential.
Most companies follow project management methodologies that work best for them and suit the product/service they provide. However, some may not yet have a common project management tool or a robust reporting structure, which may negatively impact program goals. Deficiencies in project management may be noted in the initial analysis stage. How it will affect the program meet its objectives should be explored and mapped.
Different ways to map problems to solutions
After identifying a problem, frame it in the form of an overarching question to which an appropriate solution can be sought. A number of maps can available for business problem-solving. The simplest is the problem-solution map consisting of the problem statement, definition, causes, and effects, leading to a possible solution.
The problem-solution map can structure an activity that leads to an effective solution. This map has multiple steps and alternatives at each step. The advantage is that the team that owns the solution can explore multiple possibilities to arrive at a solution that works best, given the existing organizational resources, budget and other factors.
If the issue must be put to the table for insights, inputs and recommendations from different departments, then the problem-solution map can include persuasive arguments along with the supporting evidence. The advantage of this approach is that it will examine a lot of data to identify a workable solution.
Visual mapping of problems and solutions enables all relevant stakeholders to diagnose the issue with greater clarity, versus reading through text documents. Any additional information can be presented within a document, but the core problem and its constituents can be represented visually using flowcharts, graphs and charts.
If multiple issues have been identified during the initial analysis, then each unrelated issue can have its own problem-solution map. They should ask ‘why’ and determine the ‘how’. The structure used should be logically valid and useful, which can throw useful light on the problem. Depending on the type of issue, you may need to keep developing the plan until you have concrete answers. The positioning program can continue on even as the relevant teams take up the issue(s) and set a timeline for it, taking into view their other work tasks and priorities.
Evolution of the customer value proposition
Consumers today have more choice than ever before, enabled by globalization, technological advancement, and free markets. They also have the opportunity to do a deep dive into the brands and products/services they’re interested in. A majority of consumers begin their search for a service or product online. They can access brand information on various online channels, from the company website, to review websites, social media, directories and industry blogs.
The company website has the educational and marketing material consumers need to make a purchase or service engagement decision. Case studies, patient or client testimonials, media mentions, blog posts, pricing sheets, and live chat assistants, all serve to move consumers down the sales funnel.
To occupy a place in the mind of the modern consumer, companies have started dividing their efforts between traditional and digital marketing. Where before, marketing dollars went towards pushing out brand information before a large audience in an effort to make a sale, today, companies focus on pulling in customers by distributing relevant and valuable content that allows consumers to understand the service, compare products, and absorb the value proposition.
As an example, a medical devices company may share case studies explaining how their product solved a challenge the client faced and quantify the benefits they realized. There are different B2B and B2C content marketing options that companies can leverage as part of their inbound marketing efforts, to gain the target market’s confidence and persuade them to try the product.
Any content that positions the advantage of the product without overtly selling it, is in fact, conveying the value proposition. Consider the case study of a handheld transdermal skin abrasion device that abrades the skin at a precise depth to access the interstitial fluid found under the outer layer of the epidermis. By controlling abrasion depth, the device can reduce pain and avoid injury to the patient, while requiring only 15-20 seconds to complete. Through the case study, benefits of faster procedure and greater patient comfort can be communicated. The company can build a stronger case by sharing client testimonials that succinctly explain how exactly the device has impacted their business.
What does a successful value proposition look like?
The point of a value proposition is to communicate the unique qualities of the product and distinct differences from other products in the market. In other words, product positioning requires a differentiation strategy.
Linking service features to benefits for the target audience is obviously a critical aspect of positioning, marketing and sales. The advantages should appeal to the specific audience, which has its unique needs, preferences, likes and dislikes. The benefits from a particular functionality can be stated as outcomes that the customers can achieve. Outcomes are a result of benefits, just as benefits stem from features. Benefits are short-term advantages that the user can leverage to achieve long-term results or outcomes.
The value that a product or service brings should be articulated in a concise and clear manner. It should not confuse customers through ambiguous or ineffective wording, or by competing with the value proposition of a top-selling product from the company.
The value proposition should be believable. The promised product benefits must be apparent and actualized, for most customers at least. No product or service can guarantee total satisfaction for all. But it shouldn’t fall so short of its value proposition that the company’s intention or reputation is called into question. Marketers are cautious about ensuring alignment between product benefits and claims in marketing and promotional materials. In high-consequence industries like healthcare and life sciences, dubious claims can have legal consequences, making it even more important to achieve a proper link between capabilities and outcomes.
Framing the value proposition for marketing materials should also consider whether every product feature needs highlighting. Most probably not, because target market research is likely to find that consumers seek features that offer specific benefits. If this need is ease of using a healthcare app, then tacking on many features and functionalities may add to complexity. When the product is already in development, then the value proposition should be planned such that it omits or hides some features and draws attention to benefits that the target audience needs.
The value proposition is the bridge to your business. The stronger it is, the easier it is to achieve your strategic business objectives. Ineffective or misleading value statements lead to disagreements between what customers want and what your business aspires to achieve. Positioning mistakes can occur due to a variety of reasons.
Overestimating organizational capabilities is one, creating value statements without consulting the product team is another. Appropriate assessments, made possible with effective interdepartmental collaboration, can go a long way in framing a value proposition that is true to the product/service and sticks, persuading the target market to consider you over your competitors.
Although the marketing team is responsible for developing the value proposition, alignment between the product and brand claims isn’t possible without cooperation from other departments. The risks of non-alignment are too great to ignore, making it difficult to realize the goals of your business model. It can reduce your competitiveness and cause your business to stagnate.
Other factors can contribute to an ineffectual value proposition. A poor product-market fit can be a disaster, especially if the product/service received significant investment. That said, it is unfathomable that a medical device company or healthcare organization would plan a new offering that does not address a customer need.
Unmet requirements, potential for product or service innovation and therefore enhancement, or high-potential market segments, are opportunities to plan a new product, or to improve on or reposition an existing service. The potential business outcomes – more sales, bigger market share, geographical expansion – should be defined and serve as metrics for product or service performance.
Additionally, the value proposition must be unique so that competitors cannot replicate it easily, and even if they did, it would harm rather than benefit them. To convey differentiation, the product must be able to improve on existing market offerings. At the same time, the fact remains that even the best product cannot sell itself. It must be backed by the right marketing messages that are accessible by the target audience, and generate interest by virtue of the differentiation and associated outcomes for that target market.
The marketing team is responsible for the public representation of how customers will value using your product. They must know the product in and out so as to include all its unique benefits or new capabilities. Representing the product honestly and compellingly is half the battle won in the sales game.
Working with the challenges of defining the value proposition for different industries
Developing the value proposition is more complex for some industries than others. Choosing a medical device or treatment isn’t as straightforward as buying shoes or booking a hotel. There’s more at stake – for the customer or client. This underscores the importance of deep knowledge of product/service, organizational capability, customer segments, product lifecycle, external market and non-market forces.
Considering non-market forces
A company interacts with other firms and third-parties through the markets, or private agreements, such as contracts or memorandums of understanding. It must also deal with its non-market environment, which includes legal, political and social agents that impact the company’s fortunes, in conjunction with private agreements and market forces. Examples of non-market issues include healthcare regulation, legislative politics, health and safety, corporate responsibility, and environmental impact.
A view of the non-market environment is important for the following reasons:
– Political and social constituencies hold businesses accountable for driving social and cultural change. They pose opportunities and challenges for companies, calling on them to think about value and corporate impact and not only caring about maximizing shareholder value.
– Companies operate within legal and regulatory frameworks. Changes in regulations can affect market competition. Non-market strategies like political lobbying provide access to decision-makers in the government.
– Today, we find ourselves dealing with so many issues, from environment responsibility and community relations to tax breaks, employee diversity, working conditions, benefits for gig workers, and many more. Any company that conducts business in a complex and dynamic environment cannot think of business only in terms of market-based competitive strategies. It needs a middle way of thinking, flexibility and adaptability.
Example: Pharmaceutical company Novartis provides its oral chemotherapy drug Glivec at highly reduced prices to needy patients in India. It also provides tuberculosis, malaria and leprosy drugs free of cost to millions of patients. Novartis has been locked in a patent battle with India over the cancer drug. The company’s corporate citizenship initiative to benefit India’s disadvantaged populations is a subtle move at undermining its critics and showing commitment towards the country’s well-being. The strategic move occurs in the social and political sphere, but it has economic implications for the drug-maker, which relies heavily on strong patent protection to maintain its strong market competitiveness.
Course Manual 3: Target Setting
In the third phase of the corporate positioning program, you describe your target segments, their needs, and start discussions on how soon you can collect data on your target market. You will also evaluate market and user factors that pose a risk to your value proposition plan.
Market segmentation
Companies use market segmentation to group customers based on their similarities and analyze each group to identify key factors affecting their behavior. For example, healthcare can be segmented based on demographics (age, race, ethnicity etc.), health problems (infections, tumors, genetic etc.), organs and organ systems (cardiology, dermatology, neurology, gynecology etc.), and methods (radiation, surgery, chemotherapy etc.).
Healthcare models have moved towards patient-centered care. Segmentation models organized around providers rather than the population are insufficient. Patient-based segmentation considers more needs of the population, in an attempt to improve the quality of healthcare products and services relative to their price and create greater value for customers.
Bridges to Health is a patient-focused segmentation model that divides the population into eight core groups:
1. Healthy
2. Maternal and infant health
3. Acute conditions
4. Chronic conditions
5. Stable but serious disability
6. Short period of decline before dying (incurable cancer)
7. Organ failure
8. Frailty and dementia
This whole-population model includes people at every point in their life. It can be utilized for resource planning, care coordination and service delivery, helping meet goals of financial sustainability and improving patient outcomes.
Take the elder care segment – numerous sets of eligibility rules for Medicaid long-term care services apply to the infirm elderly population. Vermont, through its Department of Aging and Disabilities, has shifted resources from institutional long-term care facilities to home-based and community services. It secured a Section 1115 Medicaid waiver to continue making this shift, which effectively made it possible for the state to serve a larger population that does not qualify for institutional care, and who previously would have been ineligible for Medicaid long-term care services.
Benefits of market segmentation for healthcare providers
Classifying customers based on various criteria – the tangible and intangible – has become increasingly important in the information age where buyer decisions are driven and influenced in myriad ways. Other than demographic segmentation, grouping customers based on psychological factors and value-based purchase decisions, is important. Here’s a look at why a deeper customer profile can be beneficial:
Patient engagement: Apart from clinical information, an understanding of patients’ knowledge, attitudes, behaviors and healthcare experiences, is necessary to explore value generation or enhancement opportunities. Segmentation is a way for providers to recognize the needs of all the population groups they serve, at a deeper, granular level.
Service distribution: Based on the geographical distribution of consumer segments, providers can determine how best to place their services in different locations. This is an opportunity to expand services into an underserved area, based on other demographic characteristics.
New product/service development: The healthcare economy has shifted, and the traditional care model can no longer be depended on for margin expansion and business growth. Hospitals are no longer at the center of healthcare, and facing increasing competition from urgent care centers, retail clinics, and other independent practices. By demonstrating greater value through a new service or product, healthcare models affected by changing customer attitudes can attract and retain patients.
Healthcare marketing: Marketing messages should not only be aligned to the targeted consumer segments, but also change in response to factors that affect consumer behaviors. A deep knowledge of the customer is critical to make the right assessments on framing the brand value proposition.
Imagine a dermatology clinic that doesn’t yet offer the latest skin resurfacing treatment that has garnered immense popularity, and available at competitors in the city. The risk of customers interested in trying the latest treatments switching to a competing clinic looms. The clinic can emphasize unique benefits that matter most to their most profitable customer segment until such time that they purchase the new skin resurfacing device.
Value-based segmentation
Value-based segmentation creates customer subgroups based on perceived and delivered value. It aids pricing decisions, specifically, helping identify the price customers are willing to pay and which is also a profitable price for the company.
Other types of segmentation prioritize customer needs, motivations and other variables that are important to the customer. They are less focused on understanding why customer groups pay higher or lower prices, and the value that motivates customers to make those decisions. As companies have their own cost constraints and profitability goals, using value segmentation to understand why customers value a product, becomes necessary. The four ways in which value-based segmentation can improve your operating results are:
Revealing opportunities to develop new products: Knowledge of what motivates customers to pay a premium price can help companies introduce products that are closer to customers’ demanding expectations. It also expands the understanding of the value being offered by competitors, which is winning them sales and market share.
Improving the customer experience: Having a clear idea of your most valuable customers and the implications or impacts of your product on various market segments, will help you position the product as an ideal one for their individual needs. You can gain insights into what each segment cares about and is willing to pay a premium for, which will allow you to make the right judgments on how to enhance an existing product or service, but to elevate the whole customer experience, right from the time they make contact with your brand to customer support after a sale.
Ensuring a focused marketing message: Market segmentation allows you to create marketing messages customized to each of your segments. Targeted messages have an increased likelihood of attracting interest among segments they’re aimed at. While your high level value statements – such as assurances about the quality of care – will apply uniformly to all segments, certain benefits that one segment may prioritize more over other segments – can be emphasized accordingly.
Devote more time to the most successful segments: Spending more time marketing to your best customers can improve chances of large deal wins. You can also retarget existing customers with compelling value statements, with the goal of getting more business from them. Although existing customers should take less convincing, their decision will ultimate depend on price and economic advantage. Communicating differentiators that matter can help you generate more sales from customers who’re already familiar with your product and brand.
Controlling churn rate and increasing upsell rate: Focusing on lower value segments can be more expensive and after the first sale, upsell potential may be low. It may also be difficult to retain those who meet all the criteria for the being the ideal customer, adversely impacting the churn rate. Segmentation allows marketing teams to manage and incentivize various market segments based on their likelihood of buying from the company, doing more business with the company, and sticking to the company.
Steps to conduct value-based segmentation
1. In B2C markets like healthcare, choose segmentation criteria such as age, gender and income. Segment enterprise buyers by business size, revenue, buying volume, and so on. This data can be gleaned from existing segmentation studies, and industry databases and reports.
2. Identify purchase motivators by segment to understand what matters most to each and the value that influences their decision to accept or reject pricing. Interviews, focus groups and other modes of data gathering will provide additional data on how customers perceive value and compare competitors. Create a list of value drivers along with an explanation of how each affects value, and whether customers recognize that value.
3. Evaluate the value drivers to determine which ones you can deliver more easily, more efficiently and at a lower cost than others. Identify drivers that are held back by organizational operations and resources. Use this data to compare customer needs that have been met or unmet, your advantages and limitations, and close competitors’ capabilities. Areas in which you’re strong and hold the competitive advantage versus the same for competitors, will emerge. You will also be able to identify which customers you can serve better than competitors, and which ones you cannot serve just as yet.
4. You can have two levels of segmentation: primary segmentation, based on the most important criterion differentiating your target segment, and secondary segmentation, based on the second most important criterion. More levels are possible if your research has revealed more significantly different value drivers. Avoid creating more segments if the differences between the subsegments is minor and has minimal impact on pricing. Primary and secondary segmentation should suffice for more companies.
5. Describe segments in simple terms for the benefit of stakeholders from all departments. Everyone should be able to understand the customer segments easily.
6. Develop metrics for each value delivery to the market segments. These will be used to track the value customers receive and pay for.
Psychographic segmentation
Healthcare marketers who need to engage with and motivate consumers need to consider psychological variables that influence the decision process, such as values, lifestyles, attitudes, beliefs, priorities and motivations. A healthcare provider can consider the following psychographic segments:
Self-directed individuals, who maintain their health proactively through routine medical screenings, check-ups and so on.
Balance seekers, who manage their health by taking their physician’s advice as well as referring to information from other authoritative sources, including health websites like Mayo Clinic, Centers for Disease Control and Prevention, or Medline Plus.
Priority distributors, who tend to pay greater attention to and prioritize family members’ health over their own.
Direction takers, who defer to their physicians on healthcare matters rather than taking a proactive stance on managing their health.
Endurers, who seek medical help only when absolutely necessary, for reasons ranging from personal experience, financial prudence or difficulty, or religious/spiritual beliefs.
These psychographic segments can be utilized for various business activities, from new service development to marketing campaigns. You can consider the expectations of each segment to craft the right messages for prospects and existing customers. For instance, patients who fall under the category of ‘direction takers’, can be targeted with specific treatment plans or healthy lifestyle plans rather than being targeted with a number of choices or options, which ‘balance seekers’ are more likely to appreciate and follow.
The purpose for collecting psychographic data will determine the specific attitudes or personalities that should form the profile. You can include demographic data to further build out customer profiles. For example, say you’re creating profiles based on the willingness to adopt technology for healthcare, such as wearable devices or virtual visits, and to share the tracked health information with the doctor.
One of the profiles that can be envisioned is ‘non-participants/bystanders’, who’re least likely to adopt healthcare technology, to follow doctors’ dietary or exercise recommendations, and to share data from wearable devices. A majority of people in this segment may be older adults from a lower income group. They may be in poor health and comprise of more women than men.
At the other end of the segment, ‘pioneers/go-getters’ may be younger adults from a higher income group, in good health, and mostly male than female. This group may be tech-savvy and enthusiastic about adopting healthcare technology, sharing health data with doctors, and following their doctor’s recommendations, including yoga, meditation or alternative therapies.
Reaching your target audience
Audience segmentation precedes planning your outreach strategies. You may already have an offline and online presence; through a structured approach to product positioning, you have the opportunity to reevaluate your existing marketing channels and messages. If data collection proves cumbersome owing to a lack of concrete strategies or systems to collect and/or integrate customer data, you can note it down as an issue and assign an appropriate level of priority.
Changing residential patterns, driven by migration, urbanization and other developments, can also be included as part of the audience targeting and outreach exercise. Data about the local population can be accessed at the local government website and supplemented by online articles reporting on migration patterns and reasons driving the same.
For a hospital, important demographic shifts affect the demand and supply of health services.
– The size and age of the population has a dramatic influence on health service needs. Healthcare involvement is highest for the following groups:
– Old age, when healing is slow, multiple pathologies are present, and hospice and palliative care are required.
– Neonatal and infancy, when advances in neonatal medicine, immunization and infectious disease treatments have lowered infant mortality rate, and improved care and treatment for cases of preterm birth or congenital issues.
– Women’s fertile years, when medical treatment and intervention are prevalent in the developed world.
Technological advancements, ethnicity and socio-economic status impact healthcare service needs.
Thanks to modern medicine, people are living longer. However, lifestyle diseases have become increasingly common on the back of unhealthy lifestyles and rising pollution, among other factors. As people age, they become susceptible to illness and disability. Certain lifestyle diseases, including arthritis, Alzheimer’s disease, chronic obstructive pulmonary disease, chronic kidney failure, type 2 diabetes, cancer, stroke, metabolic syndrome, and vascular dementia have been seen to increase in frequency as people live longer and countries become more industrialized.
Ethnicity also plays a role in influencing the health needs of the local population. For example, sickle cell disease is more prevalent in African-Americans and Hispanic-Americans. In an area that has a higher representation from these ethnicities, it is possible to envision a higher demand on the hematological services of local hospitals. In the United States, there is a higher prevalence of obesity and overweightness in American Indian and Alaskan Native preschoolers, school-aged children and adults, than other population groups. Dress habits can also affect health; covering the body and head for religious reasons results in a lack of Vitamin D from sunlight, leading to rickets and osteomalacia. For all ethnic groups, the common causes of death are cancer, heart disease and stroke.
Socioeconomic status also impacts health outcomes and health care received. People belonging to a lower socioeconomic status self-report their health as being ‘poor’, have lower life expectancy, and suffer from chronic conditions than counterparts who come from a higher socio-economic status. Migration and social status of migrants also play a role. Despite having tuberculosis from malnutrition or existing health conditions, migrants may be fearful of seeking treatment for various reasons, including hesitancy to identify themselves.
The more patient-level data you can collect, the better you will be able to flesh out customer personas. The data will be helpful for future assessments and trend comparisons. You may already have different pieces of demographic data, perhaps in siloes. Centralizing the data and supplementing it with current information is a useful endeavor at this phase of the program.
Market and user factors that put the plan at risk
A number of market and user issues can affect product/service strategy and positioning. Here’s a look at a few factors:
Greater prevalence of telemedicine
Telemedicine is useful for visits that don’t need face-to-face examination. Telehealth options have become common given the ubiquity of internet-enabled mobile devices. Being a significant factor in the healthcare market, telemedicine needs to be considered when planning a new service or product that aims to increase patient convenience and experience.
During pandemics, telemedicine appointments offer a way to consult physicians without coming in physical proximity with them or the hospital/clinic environment, thereby avoiding any risk of infection that may occur from direct exposure. It is possible that patients who have become accustomed to telehealth due to a necessity brought upon them by a public health crisis, may continue using this mode of healthcare consultation even after they can resume in-person appointments safely.
Hospitals can assess how any shift to telemedicine can affect the value proposition of their planned offerings. In every industry, the move to mobile-based delivery of services has forced incumbents to play catch-up and meet the modern customer’s demands for speed, efficiency and ease of using a service, making an appointment, purchasing a product or completing the full medical consultation online. Any existing value proposition at odds to evolving customer expectations needs to be appropriately removed or adjusted.
Healthcare reforms
Healthcare proposals will continue to evolve. The Patient Protection and Affordable Care Enhancement Act intends to strengthen and expand upon the Affordable Care Act, prop up the Medicaid program, and reduce prescription drug prices. Besides improving marketplace access and affordability, it would expand the availability of ACA subsidies to additional income brackets, and fund state-based subsidy or reinsurance programs. Calls on implementing Medicare for All have grown louder. If it becomes a reality, then healthcare organizations can be affected in myriad ways. According to some expert opinions, a single-payer model would financially benefit 10% of hospitals, while 90% of providers would see huge cuts in revenue. Some believe that the model would lead to a better hospital financing system, closing unnecessary hospitals and helping rural and safety net hospitals flourish.
Uncertainty about new regulations requires scenario-planning. As federal regulations enacted over the past decade have emphasized enhanced care and experience, hospitals must investigate the underlying drivers of patient experience to manage their spend wisely, and create meaningful value propositions.
Innovations in treatment and technology
Introducing an advanced treatment or service requires careful assessment not only for the costs involved, but also because consumers may have differing attitudes towards trying the latest treatment technique or adopting an app launched by a private practice. Innovating is tough and a strong business case, backed by sufficient evidence will convince senior management to approve investment. As far as consumer adoption is concerned, involving the actual users in the innovation program can be very useful.
For example, if you’re thinking of offering a digital health solution, then it is imperative to understand users’ experiences with the solution and the challenges they’re facing. This is why companies are involving patients as early as possible in the innovation process. Patient engagement provides insights that can be used along with clinical information to create top-notch products that actualize their intended value.
The needs and patient engagement styles vary according to patient population. Here, granular segmentation is helpful in correctly determining patients’ needs and identifying the best ways to gather their inputs and make smart decisions on the direction the particular product/service should take.
Consumer impressions on positioning
Depending on how you’ve positioned and marketed your products/services so far, you will need to challenge perceptions about your corporate brand. As the number of claims for a brand increase, the overall positioning may lose its clarity and sharpness, and consumers may not believe every value statement you publicize. Four main positioning mistakes can be identified:
Under positioning: Consumers have a vague idea about your company. If you compete in a crowded marketplace, you’re at a risk of getting lost in the sea of competitors. If there are fewer companies like you in the market you serve, your offline and/or digital marketing strategies haven’t shown the desired impact.
Over positioning: A brand is over positioned if consumers have a narrow or highly focused image of it. It is common during the early stages of the business, when the company attempts to convince its target audience about the value of the one product/service or few products/services it sells. With business maturity, the company adjusts its positioning by highlighting its extended benefits to a wider target market.
Confused positioning: A confused image of the brand can result from the brand making too many claims or changing its positions too often. It can also stem from benefits that contradict each other. The initial assessment offers the opportunity to examine existing claims and make the necessary changes, if so required.
Doubtful positioning: Consumers may find claims hard to believe if they don’t match the actual product/service feature, price and benefits. It implies that the positioning strategy has been unsuccessful in convincing the target audience about the product.
As mentioned previously, value statements describe benefits and outcomes for the target customer. In doing so, they can point to how the product is better than competitors’ or leads in its product category. A number of value propositions can be framed to give customers a clear picture about the product.
Attribute positioning is where the company positions itself based on a certain corporate attribute that differentiates it from the competition. Example: “25 years of developing life-saving drugs”.
Application/Use positioning is where the product is positioned as the best for the particular use or application. Example: “The best medical alert system for the elderly”.
Competition positioning is where the service claims to be better than the brand’s competitors. The competitors can be named or unnamed in the value statements. Example: “Faster acting than Aspirin and Ibuprofen”.
Product category positioning is employed by leading companies in their industry or specialization. They can also be used by new companies with blockbuster or successful disruptive and innovative products. Example: “A leader in in infusion pump market”.
Price positioning may be beneficial when the company is touting the comparatively lower prices of a generic product that serves a basic utility for the customer. It can also be employed when you’re offering a product/service which is comparable to competitors’, but at a lower cost to the customer. Example: “Most affordable latex medical examination disposable hand gloves”.
Brainstorming positioning strategies
Before you can determine the benefits and outcomes that have the highest chance of gaining customers’ attention and motivating them to consider you over the competition, you need to:
Know your brand: Your brand is your company, and your brand promise is at the core of your market positioning. What your brand stands for reflects in every product or service you offer. When well-defined, you don’t have to work hard to frame value statements that imbue this essence. Of course, perceptions about your existing product/service should also be positive for your messages to be seriously considered by consumers.
Prior brand experience affects consumers’ views about future or new products/services. If your hospital’s mobile app has been downloaded by most patients, many of whom use it frequently, then your next digital initiative is likely to attract interest. Of course, your new offering should offer an unmet need, solve a new challenge or improve an existing service. When you have customers’ goodwill, influencing their purchase decisions and changing their minds isn’t a herculean task.
You can use tools ranging from surveys to social listening software to track customer and consumer sentiment. When targeting new market segments, data on brand awareness and perception is necessary.
Personalize using more data: Consumer expectations evolve, and new competitors challenge the status quo. Product positioning must consider changing consumer preferences and market competitiveness to frame compelling value statements. The company should also be familiar with customers’ needs and preferences and compare how these have changed vis-à-vis those of the target market segments who aren’t yet using the company’s product/service.
If many of your customers aren’t yet using telemedicine or don’t feel they need it, while market research shows that a majority of consumers sharing the same demographic and psychographic attributes have used and expect to continue using telehealth, then you may want to investigate further to understand the discrepancy. On the other hand, if the findings of customer surveys and market research data are consistent, then you can make important conclusions on digital healthcare adoption and inform your product strategy and positioning program.
Prioritize the customer experience: Multiple factors can interfere with customer-brand relationships, requiring a broader look at the customer lifecycle. Just as you create a customer journey map outlining the interactions and experiences at every stage, identify factors than impact customers’ decisions over time. Customer loyalties can shift as they experience life events; clients may switch to competitors as their business models or priorities change. It is not possible to estimate their decisions but expected changes can be noted and appropriate strategies undertaken to convince customers to remain with you over the long term, and ideally, for life or throughout the existence of their business.
Crafting experiences organized around customers can adhere them tightly to your company. For customers, leaving you for another medical practice or medical device company is a decision fraught with consequences. Pharma companies have to think about prescribers and the end user in the digital world where medicines are available online and cost consciousness among patients has risen. Building doctor loyalty while making medicines accessible to the have-nots needs good alignment between product strategy and corporate positioning.
Consistent messaging: Your value proposition should be expressed consistently across all marketing channels. Brand messages are reinforced in sales conversations with company representatives, between staff and patients, and via employee advocacy on the organization’s social media pages. When stakeholders are communicating a unified brand story, and have been trained to convey it compellingly, your product strategy and brand positioning efforts have a higher probability of activating inquiries, consultations and sales.
Evaluate brand content across channels and measure the effectiveness of messages against each other. If they’re inconsistent, make them uniform. If unclear, fine-tune. See which channels have generated the most leads, patient engagement, deal renewals, B2C/B2B sales, and so on. Focus on the best-performing narratives and channels. As you launch new products, apps or invest in patient loyalty programs, you will know which corporate values to highlight and on what channels.
Course Manual 4: Gathering Data
Market research is an essential activity that informs and defines the value proposition. The previous courses focused on creating a value proposition that was congruent to business strategy and existing or planned products, and capable of being realized by current organizational capabilities. They emphasized the importance of classifying target market segments based on demographic and psychographic data. In this course, market trends and competitor research further refine the value proposition, and the impact that choosing your solution might have on the buyer’s organization. Data collection and analysis will occur for the key markets and buyer segments you plan to target.
Functions of market research
An organization may use market research for four functions:
Exploratory function is useful when you need to gather data to launch a new product in a particular category/medical specialty. It serves you at the time of investigating a market situation or a business result, such as trying to figure out why you’ve lost many clients in the previous quarter or why sales are down.
Descriptive function is the explanation of the market information collected for market research. For example, it can be used to present market developments in the past four years or the decision-making behaviors of CMOs in buyer organizations.
Diagnostic function is helpful in discovering how data points collected during market research relate to each other. Based on the purpose, you may learn that millennials don’t care for primary care doctors and seek speedier alternatives, why females in the 40-50 age group use the ED more often than younger or older patients or discover the microtrends influencing medical device imports from the USA to the Middle East.
Predictive function uses data to forecast the outcomes of a marketing decision or consumer action. A pharma company, for example, can use predictive market research to understand how patients are likely to behave during a treatment plan, or healthcare professionals respond to targeted messaging on drug efficacy and health outcomes. Market research can be basic or applied. Applied market research deals with an existing problem facing the business or a market phenomenon affecting it. This approach is useful in exploring new opportunities or finding alternatives. Basic market research isn’t used to solve an immediate problem, rather, advances the knowledge of an existing marketing theory.
Market research for decision support
Market research can be employed in various areas of marketing to ensure that the best possible decisions are taken.
– Target market analysis and lifestyle studies aid market segmentation and targeting, providing granular data on preferences, usage, needs and attitudes to help determine which segments are best suited to the particular product/service.
– All stages of product development can benefit from market research data, helping identify how a product fits buyers’ needs and improvements that can be made. The information is valuable when introducing a new service or considering a modification to an existing product.
– Pricing market research offers insights into price elasticity of demand, that is, how sensitive the customer is to the price changes your brand might make, and the corresponding impact on demand of quantity of product purchased.
Data collection techniques
Data collection can be qualitative or quantitative. Qualitative analysis uses a small sample of participants and is based on subjective data and anecdotal evidence. That makes it an impressionistic data collection methodology. Quantitative analysis gathers data from a large sample of participants that proportionally represent the total relevant population. Statistical methods are used to evaluate the sample data and generalized to the larger population.
Ways to collect data for qualitative analysis
Qualitative analysis is based on opinions from case studies, focus groups, and interviews. Participants are selected according to the criteria defining population segments that the particular product/service in question will serve. The three common data gathering methods for qualitative analysis are:
Focus groups: A focus group typically comprises of 7-10 participants and is led by a ‘facilitator’ who conducts the group, leads participants through the questions, and captures an account of their inputs. It can be a standard focus group that chooses participants at random from the relevant market population. Or it can be in the form of an expert panel of participants with extensive knowledge of the market segments under study or expertise in a specific market. Focus groups are a relatively cost-effective way to gather data for generating ideas.
In-depth interviews: The goal of an in-depth interview is to understand the experience of other people and explore ideas. It selects a limited number of participants who are experts in a particular area or on an ad hoc basis. The participants and their ideas may not represent those of the general population. One-on-one interviews are less interactive and more costly to organize than focus groups. In the absence of dynamic interactions, opinions and ideas of participants are independent and uninfluenced by each other.
Public meetings: Data on consumers’ attitudes and preferences can be collected from the opinions they state publicly, such as at community meetings, and through questionnaires delivered at public gatherings. It is an effort-intensive method but should be considered if sufficient data and opportunities exist.
Ways to collect data for quantitative analysis
Quantitative analysis uses surveys as the data collection mode. A large-scale representative sample is chosen for the survey. The following criteria are considered for data collection:
– A sufficiently large sample size to keep the margin of error as low as possible. How large a sample depends on the required degree of accuracy, and the extent to which responses deviate from one another.
– All relevant population groups must be included to build the representative sample. To address the risk of some sub-groups being underrepresented, oversampling can be done to randomly select respondents from the minority class within each stratum.
– Sample members from a larger population can be systematically and individually selected; they represent a microcosm of the relevant population. It is to ensure that all relevant sub-groups have an equal chance of being chosen for the survey.
Surveys can be conducted as personal interviews, telephone surveys or mail surveys. Personal interviews are suitable when responses to open-ended questions are required. Discussions can be longer and a greater number of topics covered. The costs of conducting interview surveys can be considerable, considering how it requires you to recruit, train and retain interviewing staff. Interviewers must possess the skills necessary to make the right inquiries and note non-verbal gestures to grasp participants’ emotions. After researchers have started analyzing the data, interventions may not be possible. Cost restrictions may adversely affect outcomes. Moreover, the process is lengthy.
Telephone interview surveys allows some amount of investigation but seldom are the interactions more than 30 minutes. As interactions don’t occur face-to-face, it may be difficult for the interviewer to hold the attention of the participant or note non-verbal gestures. On the positive side, anonymous participation may encourage participants to speak more freely or truthfully than if they were in the same room with the interviewer. Computer-assisted interviewing is cost-effective and convenient for the organization.
Respondents who are unavailable for telephone or in-person interviews can fill in questionnaires they receive in the mail. The anonymity of mail interviews also encourages honest and even in-depth answers. The disadvantage, however, is the low response rate for data collected via this method. Marketers will need a follow-up plan to motivate respondents who ignored the first request. Naturally, long waiting times are undesirable, and the additional effort and costs to obtain the required sample size can be considerable.
Social media and online health communities
Online discussions on popular healthcare forums reveal the treatment hurdles faced by patients that may not be obvious during physicians’ or marketing staff’s own experiences with customers. Anonymity of participation also leads people to speak their mind and have conversations they might find difficult to have with doctors.
On most of these forums, doctors or representatives from the healthcare organization are welcome to initiate conversations with patients or answer their queries. This also opens up the opportunity for sales talks, although it must be done sensitively or avoided as the primary goal of forums is knowledge and emotional support.
Consumers share their opinions, feedback and insights on popular social media channels. A scan of your social media pages and relevant groups you’ve joined is a worthy endeavor. Although the bulk of your market research data will come from focus groups, surveys and interviews, some part of it should consider all relevant information and brand mentions on social networks. What are the posts on a specific service or digital initiative that has attracted most attention? Which brand attestations have received more likes and positive or neutral comments? What are the 3-4 existing value statements that have resonated most with customers?
Social media are channels where people express freely. However, fans and followers may not put a lot of thought into every ‘like’ or comment they make. Compare comments, see if the same fans or followers are most active in responding to your posts – they’re likely to be willing participants in interviews or surveys. Check the number of retweets – social media users tend to be careful about what they retweet as it is a matter of their reputation. Unless they believe that a post can be of value to their fans/followers, they’re unlikely to retweet it.
B2B market research
B2B market research differs from B2C market data collection. Business-to-business markets have the following characteristics:
– Purchase decisions are complex, involving multiple people in the buyer organization. You may engage with one or two point people and the decision chain depends on the line of command at the particular buyer company.
– Demand in the B2B market is driven by demand in the consumer market. Your place on the value chain will determine the extent of contact you have with the end consumer. Any issues further up or down the value chain can impact the ability of other members of the value chain to satisfy customer demand.
– Products are technical in nature, requiring companies to share product specifications sheets, product safety data sheets, and so on. Buyers will want data pertaining to the product’s capabilities and benefits, in making their purchase decision.
– Switching brands isn’t simple or feasible in B2B markets. One reason is fewer alternatives; another is the significant time and costs involved in engaging another provider.
– Customer relationships are deeper given that providers visit their key clients and in-person visits are an important selling mechanism.
– Transaction values are high. Most of the value is generated by a small percentage of customers (Pareto principle).
Based on these characteristics, data gathering can be accomplished in the following ways:
Qualitative and quantitative analysis
The interviews and survey options applicable to B2C can also be employed in the B2B domain. Of course, you need a skilled individual or team to carry out effective investigations of your target market’s requirements and attitudes. The job can be outsourced to an external agency or a retainer agreement with a marketing consultant/agency can be worked out.
Industry studies
Market research firms serving your industry are a treasure trove of market intelligence. They provide unbiased, in-depth analysis of markets and industries for consultants and business leaders. Studies can be from a US or global perspective. The reports inform you about the most desirable markets or products to explore for business expansion, and the industry trends or competitor strategies that pose threats or opportunities to your company. An account with a market research firm covering or dedicated to your industry has many benefits. As the analysis is done by experts, you can rest assured that the data you receive is reliable and trustworthy. Market research reports provide key visualizations enabling decision-makers to absorb data quickly and accurately. The reports can include information on market size, size and forecasts related to product and market segments, relevant industry trends, industry structure, market share of industry leaders, business profiles of industry participants, market environment, and incisive analysis of where the industry is headed, impacts of external factors, and other vital insights of interest to decision-makers.
Online forums
Healthcare, pharma, medical devices and biotechnology marketers use internet forums as a market research tool to learn about the experiences and challenges faced by buyers. As participation is often anonymous, you’re likely to find unfiltered comments and no-holds-barred declarations that can prove useful for framing the right value propositions or improving a product. You may be able to validate buyers’ pain-points with your own findings. Perhaps you’ll discover the prevalent sentiments about your close competitors, if forum participants mention those companies by name or give hints that reveal the brands’ identities. Online forums are also a fertile ground for generating ideas. On active forums, members are likely to share their views on how a product/service can be improved. Debates and discussions can spark off ideas and also tell you how strongly buyers feel about a topic of consequence to their business.
Social media
Keep an eye on social media comments and discussions on relevant communities. What industry trend has received much attention from buyers? What are their thoughts on innovations, new drug introductions, industry leaders, impact of regulations on their business, and other topics? Social media pages/handles and communities can tune you into insights that you might not find elsewhere or confirm or disprove findings from other market research activities.
Employees
Your marketing teams and front-line staff who deal directly with clients will be familiar with buyers’ challenges, expectations and the present situation at their respective organizations that factor into the purchase decision. As a vital source of client intel, they must be provided with the tools and incentives to share data that they believe can aid the product/service positioning program. Data gathering has its limitations. You may not find all the information you need online. Some of the data may be incomplete. The data could be outdated or it may not be standardized. To avoid running into trouble finding existing industry data, market reports, competitors’ information, figure out a plan to go about collecting the data, such as identifying the websites or market research firms that provide it, what you might not find online, and what you can access for free versus paying for it.
Reviewing value statements made by close competitors
What are the value propositions from nearest competitors and how do they compare against the value statements you’ve defined so far? The market research data you’ve collected will provide this information, but you can also check how competitors have presented their value proposition on their website, social media pages and marketing collateral. Promises of a quality product, high drug efficacy, exceptional patient care, improved outcomes, and so on, will mirror across companies offering the same product/service categories. Of critical importance is how competitors have conveyed economic value to the target market for it will be scrutinized intensely by buyers, particularly for expensive treatments, drugs or medical equipment.
Like the market data, information collected on competitors’ value statements should be used to make sound decisions on the content and direction of the value proposition. You can consider showing various competitor value propositions and your own to focus groups, the goal being to determine which ones resonate most with this representative sample. The economic value of the product, discussed further on, should be included. Psychological end-benefits can also be components of some value statements. The purpose is to cover value statements that convey all the differential benefits that matter from monetary and psychological/emotional points of view.
Communicating economic value
Value creation should include those elements of a product/service that an informed buyer is willing to pay for. The customer’s economics should be considered to determine how best you can align your product with what customers’ actually value. Here, the Economic Value Estimation (EVE®) Model, which quantifies the monetary value created by a product for a customer compared to the next best alternative, can be employed.
The EVE model
Most EVE models comprise of four components: competitor reference value, positive differentiation value, negative differentiation value, and net differentiation value. Competitor reference value is the price paid by the customer for the next best alternative. Depending on your industry, estimating this competitive alternative may be easy or difficult. Positive differentiation value is the monetary value your product/service creates for the buyer by way of either increased income or cost savings amounting to over and above what the next best competitor alternative provides. It is made up of multiple value drivers. Negative differentiation value is any additional cost that the buyer may incur with your product/service. Net differentiation value is total economic value to your buyer after factoring in the positive differentiation value and negative differentiation value.
Different ways to communicate economic value
Establishing the economic value for the customer is important for two reasons. One, the buyer will not know the differentiating benefits you offer. Second, if you don’t convey the value proposition credibly, the buyer may not acknowledge the value you provide even if they have deduced it. There are different ways to describe value in monetary terms. For example, you can show that your lower-priced competitors are in fact overpriced as the savings realized from selecting their product/service is inadequate to compensate the value lost by not choosing your product/service. Or you could promote your discount in the light of the added value your product provides.
Value management
Value management is a critical business activity from the point of view of product development and marketing communications. It plays a role at the time of planning and developing the product, and when the product’s value proposition is being defined and formally established for publication on websites, brochures, social networks, advertisements and other sales and marketing channels. If you don’t understand or manage value, a disconnect between the product team and marketing team is pretty much guaranteed. Here are some questions to ask:
– During the value creation process, are you developing products with the benefits and outcomes that align with what the customer is happy paying for?
– When communicating the value to a B2B customer, are you explaining the differentiating benefits that impact their bottom line?
– When determining the price structure, do you have ways to charge the customer such that the value you deliver can be tracked?
– During price management, is pricing implemented in line with original goals, and do the price levels change to reflect market conditions?
– Does your pricing policy inform buyers that price is determined by value rather than negotiations?
Value and price communication tips that marketing teams can implement immediately
1. State objective information that tells buyers that the differential economic value justifies pricing. Include statistical information on your product performance versus close competitors’, emphasizing quantitative information about differential economic value.
2. Convey assurances that the economic value justifies pricing. Include patient/doctor testimonials in formats that drive home the message swiftly and effectively. Consider videos, stories, narratives, case studies and infographics – among other formats – to reinforce that your brand is trustworthy and reliable.
3. Refer to the psychological end benefits to the customer. State value in terms of the end benefits buyers will achieve from using the product/service. The marketing team should leverage their knowledge of customer psychology to frame statements that touch upon, say, emotional benefits to consumers of healthcare services. Explore ways to activate emotions such as hope, resilience, gratitude and joy, in B2C customers. The B2B customer may be more interested in knowing whether purchasing the product will create unnecessary reliance on your organization, lead to a reduction in headcount, or affect their employee morale or motivation in any way.
4. Offer assurance about the psychological end benefits. B2C consumers in some industries may have difficulty comparing companies, and benefits can be highly individualized or subject to idiosyncrasies. For example, a consumer interested in cosmetic enhancements may give more importance to the ambiance of the clinic than the price of the treatment, or the particular procedure (a proven vs new revolutionary treatment method). In this case, images or narratives may be more appealing and/or easier to process than statistical information.
Course Manual 5: Analyze Data
In this crucial phase, the marketing team will do a deep dive into the collected data. The method used for analysis will depend on whether you used quantitative techniques (ex: questionnaires) or a qualitative approach (ex: focus groups). Efforts will be spent on identifying trends, patterns, behaviors and other statistical and factual information necessary to framing an effective value proposition.
Success in this stage is dependent on several factors: knowledge of and experience conducting market research; solid presentation skills and an easy familiarity with different data visualizations; streamlined collaboration from beginning to end, at the team and inter-departmental levels; and involvement from all stakeholders in perfecting deductions and conclusions for the benefit of the program.
Analyzing quantitative data
Quantitative data deals with numbers and non-numeric variables that can be measured objectively. Examining and conducting statistical analysis on quantitative data requires strong technical/mathematical skills. Marketers need to know at least basic math to produce reports. A background in or some comfort level with statistics, geometry, finance and economics is valuable.
Preparing the data
Prior to analyzing the data collected through one or more quantitative data collection methods, it needs to go through certain initial checks, as follows:
Data validation, to confirm that the data was collected in accordance with established standards. It can be inferred in these ways:
– Ensuring that the respondents were correctly chosen in alignment with the research criteria.
– Cross-checking whether each respondent was actually interviewed (if this was the data collection method)
– Verifying whether the data collection method prescribed was followed without any adjustments or discrepancies.
– If an interview was administered, confirm if the interviewer asked respondents all the questions and not just some of the required ones.
Data editing, which notes errors made while filling surveys (if this is the data collection mode). Left out or incorrectly filled fields are one example. While basic errors may be rectifiable by the individual conducting the survey or interview, the mistakes cannot always be caught early. The personnel or individual analyzing the data must provide clear instructions in this regard. They’re also responsible for conducting the basic data checks in order to take suitable decisions around data points that may affect the accuracy of results.
Data coding, which groups the data and assigns values to the variables or responses from the survey. The goal is to simplify the data before it is subjected to quantitative assessment.
Measurement scales
The four measurement scales associated with open-ended or multi-choice question surveys used for collecting quantitative data are: nominal, ordinal, interval and ratio scales.
Nominal scale is a simple variable measurement scale used to name, label or categorize attributes used for the research. It labels variables such as name, gender, place of residence, phone number, among several others, into classifications without any quantitative order or value.
Example: What is your blood group?
1 – A
2 – B
3 – AB
4 – O
Ordinal scale measurements assign an order or ranking to an attribute. It is generally used to depict non-numeric concepts such as satisfaction, discomfort, frequency and so on.
Example:
How often do you use our app?
Always – 1
Very Frequently – 2
Occasionally – 3
Rarely – 4
Never – 5
This scale can be presented in graphical or tabular formats for easy analysis of collected data.
An interval scale is a numerical scale where both the order of variables and the difference between the variables is known. It designates an equal-interval ordering. Examples include age, BMI, years of education, and so on. Interval scales do not calculate the true zero, the zero point representing the absence of the attribute being measured.
Ratio scale is a variable measurement scale that designates the order of variables as well as makes the difference between the variables known, in addition to calculating the true zero. This scale can be used to provide highly detailed information.
Example:
What is your weight in pounds?
– 100 – 120 lbs
– 120 – 140 lbs
– 140 – 160 lbs
– 160 – 180 lbs
– 180 – 200 lbs
Depending on the mode of data collection, the information will be captured in the form of multiple-choice questionnaires, open-ended Q&A questionnaires or recordings, or textual responses received via email.
A number of quantitative analysis methods can be used to make sense of the collected data. Some of the common methods include the following:
Cross-tabulation
Cross-tabulation is a statistical model that identifies patterns, trends and correlations in data to enable informed decisions. It can be used with ordinal or nominal data levels. For example, you can use cross-tabulation to find correlations between ethnicity and prevalence of diabetes.
Trend analysis
As its name implies, trend analysis spots changes in data over time. It can be used to pinpoint the change in some attributes considering that one factor/variable remains unchanged.
Conjoint analysis
Conjoint analysis is a market research approach that measures the parameters behind a purchasing decision. It can be used to determine the value that consumers attribute to a product or service. It uses statistical techniques and real-life scenarios, and models consumers’ purchase decisions.
Text analysis
You can leverage intelligent tools to break open-ended data into easily understandable information. It is useful to make sense of and structure unstructured data.
How to go about analyzing quantitative data
1. Use the measurement scales to arrange data in a proper way. It can be organized in Excel sheets, spreadsheets, Google Sheets, or a more convenient tool that you already use.
2. Based on the data you’ve collected, ink descriptive statistics like mean, median, mode, frequency or percentages, to this information.
3. Identify an appropriate measurement scale, depending on the descriptive statistics.
4. Use suitable tables to present and evaluate the collected data. One or more assessment techniques can be leveraged to draw comparisons, trends, correlations and other insights from the data.
Analyzing qualitative data
Qualitative data comprises words and observations. Hence, it is analyzed differently from quantitative data. As qualitative research aims to understand a problem, and is exploratory in nature, it is not possible to extract absolute meaning from this type of data. For this reason, analysis can begin soon after data keeps coming in.
Steps of analysis
1. Read the data a few times and look for patterns or general observations.
2. Refer to the objectives of the market research and identify questions that the data can answer.
3. Assign codes to the behaviors, ideas, trends or other key attributes or factors.
4. Identify patterns, correlations and themes in the coded data. Find areas that can be explored at length.
Data analysis methods
Qualitative data can be analyzed using different methods. Content analysis is the common method. It looks for specific phrases, concepts or themes within qualitative data. The objective is to quantify and analyze the meanings and relationships of those concepts, phrases and themes. The data for content analysis can come from interviews, open-ended questions, focus groups and public meetings.
As explained above, the text needs to be broken down and coded into categories to further summarize the data. Some applications of content analysis are:
– Pinpointing intentions or focus of an individual, group or organization
– Understanding attitudinal and behavioral responses to a product/service/issue/initiative
– Discovering patterns in communication content
– Uncovering the emotional or psychological state of individuals or groups
– Evaluating open-ended questions and focus group interviews to conduct research in conjunction with quantitative data
Content analysis can be conceptual or relational. Conceptual analysis involves choosing an idea, issue, occurrence or event for examination, followed by quantifying and counting its mention in the collected data. Your marketing team must have research questions ready to capture the right terms in the data.
1. Based on the goals of your value proposition program, determine the analysis level. Will you look at words, phrases, sentences or themes?
2. Determine the number of concepts that must be coded. After the coding process has commenced, you can choose to add new data that has implications for the research question. Or, you could analyze the data for a set of specific themes or concepts related to your positioning goals.
3. You can code based on the presence of the chosen concept in the data, regardless of the number of times it appears. Or, you could count the number of times the concept or theme appears in the text.
4. Decide how irrelevant information needs to be processed.
5. Code the text manually or using a software tool. Annotating and summarizing manually may be cumbersome or unfeasible for large amounts of text. Software tools can add categories and code the text quickly for convenient analysis.
6. Identify patterns and trends and drawn other conclusions relevant to your research question.
In relational analysis, the concepts found in the text are examined further to explore relationships between concepts. It begins with conceptual analysis and progresses to understanding how the concepts are related to one another. For example, you can evaluate the degree to which two concepts are related, whether the concepts relate positively or negatively to one another, and the directions the relationships take, such as ‘if A exists, then B follows’ or ‘X precedes Y’, or ‘C is the primary motivator of D’.
Content analysis is a useful way to analyze textual communications. The coded data can be analyzed using statistical techniques. It is valuable in making sense of deep human thoughts and experiences. On the flip side, content analysis is time-consuming, and susceptible to inferences that may be subjective.
Select a data analysis method that works for your organization
In the data analysis phase, the outline for the value proposition starts taking shape. In the previous stages, the value proposition was compared against competitors’ positioning and organizational capabilities. How market realities and buyer patterns further mold the value proposition, affecting product positioning and strategy, will be understood in this stage. As it lays the groundwork, carrying out analysis correctly is imperative.
For this, the data analysis approach and tools should be chosen carefully. Select methods and tools that help you generate actionable insights that can be directly applied to your product positioning efforts. Avoid looking for meanings or drawing conclusions that aren’t applicable to your program. Such insights are superfluous for your current endeavor but they may be considered for future marketing activities.
Recognize the existing data analysis capabilities of your marketing team so that you don’t use complex methods or tools that involve a learning curve. Alternatively, you can outsource market research to an external agency.
Expediting data analysis
Sticking to the program timeline can be challenging if you’re stuck in the data analysis process. Distributing tasks, process steps and post-analysis reviews among team members is one way to get all the work done in this phase within a certain deadline. This distribution should not impact team members’ regular workday adversely as it may have implications for the accuracy of results from performing analysis tasks hurriedly or skipping initial steps such as data validation.
An experienced member of the team who is familiar with data analysis can be accountable for selecting easy and affordable or free pre-processing and processing tools that simplify the process. To keep a tight control on quality, each step can be reviewed by a senior team member, and issues addressed jointly. Feedback and experiences carrying out quantitative or qualitative assessment can be recorded to avoid mistakes in the future, and to adopt more efficient ways of going about related tasks.
Formally presenting findings to stakeholders
The research report comprises an executive summary of one or two pages explaining the general idea and purpose of the report. It has an introduction providing background information, target segments and objectives. The report describes the participants in the research and how they’re relevant for the value proposition program. It briefly explains the research methods used and why. Research questions along with their answers form the meat of the report. The detailed information is further summarized in the presentation to stakeholders.
A formal presentation of research findings is necessary to bring all stakeholders on the same page. The presentation should be informative, make the best use of the available time, and leave no room for confusion or ambiguity. The team member assigned to make the presentation should keep the following best practices in mind:
1. Include all findings relevant to the positioning program, while also speaking to the requirements and interests of different departments.
2. Decide the number of slides based on the time allocated for the presentation. If you’re planning a 20-minute presentation, avoid having more than 20 slides. Share only high-level information. Anyone who wants to look deeper into the research can be provided with the lengthier reports put together by the marketing team.
3. The human brain processes images faster than text. As much as possible, show rather than tell, using the right visuals, as discussed further on.
4. Senior executives may not have the time to sit through the entire presentation. If they will be joining the presentation and have indicated their time constraint, create a TL;DR slide that summarizes key findings and provides a big picture overview.
5. State findings and link them to recommendations on positioning the product/service. This is to provide a starting point on what to accomplish in the next phase of the program, and the related tasks that some or all departments should prepare for.
Using data visualizations
The number of data visualization tools available online make light work of converting information into meaningful visuals. You can choose the appropriate visual representations based on what you’re presenting in each slide.
Line charts
Line charts are used to show trends for different variables/categories over a period of time. If you want to compare changes in patient adoption of telemedicine, healthcare apps and fitness wearables over the same period of time for different age-groups, a line chart can depict this trend visually. A medical device company may use line charts to indicate sales figures of different product lines for hospitals, doctor’s clinics and assisted living facilities.
Bar charts
Bar charts are great for comparing the number, frequency or any other variable for different categories of data. For example, you can use a bar chart to show the percentage of patients who said that they received the expected level of care at four competitor hospitals. The use of colors and symbols can make bar graphs vivid and interesting – capturing attention – while making a key finding instantly clear – such as showing the top arthritis drugs by revenue.
Column chart
A column chart is also used to show a change in a variable over time, or compare values across categories. It displays data in rectangular bars, and can be used to plot both nominal and ordinal data. When you want to show a side-by-side comparison of figures, such as the number of house visits by doctors each month in the first six months of the year, a column chart is more effective in drawing attention to the numbers rather than the shape of the trend, which is conveyed through a line graph.
Pie charts
Pie charts are commonly used to show part-to-whole relationships in data, and to indicate that one segment of the total is relatively small or large. You can use pie charts to present the number of urban and rural hospital in your region, or the health insurance coverage of the total US population across Employer-Sponsored, Medicare, Medicaid, Other Public, Private, and Uninsured categories. A pie chart should not have more than six categories or else the difference between values will be indistinct and fail to deliver any meaningful insight.
Scatter charts
A scatter chart uses colored circles/dots to indicate the relationship between two sets of data. It can show linear relationships, positive correlations and negative correlations. One way to employ this chart is to plot the diabetes versus obesity rates for a particular market segment. Another is to plot the life expectancy versus healthcare spend per individual for three different states or countries.
Bubble charts
A bubble chart plots the relationships between three different numeric parameters. It is suitable for highlighting how some categories or variables are more significant than several others, such as the areas of highest spend, the most pressing buyer challenges, or the life expectancy versus per capita GDP for a given year.
Pivot tables
A pivot table is the summary of data in a tabular form. It condenses complex information, showing overviews and comparisons that need to be shared in presentations. A pivot table can contain information on the number of patients who opted for ‘x’ number of treatments, the average cost of each treatment, and the average length of stay at the hospital. Generally, tables work well for research reports, which show all the data and/or multiple variables. Unlike graphs, tables cannot illustrate trends and should be avoided if there are better formats to compare categories or emphasize key values.
Common mistakes in data analysis
Data is only good as the insights extracted from it. Mistakes during data analysis are more common than you may imagine. Here’s a look at the common ones to guard against when you dive into market data.
1. Cherry-picking: Focusing mainly on the data that supports your hypothesis can be risky as it prevents you from finding the holes in your assumptions even though they may be staring right at you. When data is examined in its entirety, the different aspects of an issue come to light, which can prove vital in shaping up an effective value proposition.
2. Correlation is not causation: If two things appear to be related to each other, it doesn’t imply that one causes the other. When looking for a relationship between two variables, be careful not to interpret it as one variable is causing the other to occur. For example, in a study comparing drinkers and non-drinkers, heavy drinkers can have a higher rate of liver disease than non-drinkers. But it is impossible to know if the disease was caused by their drinking or by some other factor, such as obesity or a virus.
3. Solution bias: Literally described as ‘falling in love with a solution’, this type of bias is the result of favoring a solution at the consequence of making wrong deductions from not applying the necessary rigor or objectivity in the analysis.
4. Paying attention only to the numbers: If you’re working with quantitative data, be sure to ask ‘why’ rather than ‘what’. Events, developments and outcomes take place in their context. By isolating the context from the numbers, only a superficial view is gained.
5. Focusing on methodology over the business question: It is quite easy to forget the purpose and end goal when selecting from various methodologies, including new ones, for the data analysis. All decisions in this phase should be in service of the research question.
6. Overfitting: Overfitting occurs when you use a model that closely or exactly fits a data set. As a result, any noise or idiosyncrasies in the data set are included rather than excluded. Moreover, as the model has been chosen to fit the data set, it may be ill-suited to new data sets and predictions.
7. Underfitting: This is the reverse of overfitting, where the model cannot capture the underlying trend of the data and does not generalize to new data.
8. Wrong graphs for visualization: Context also matters when selecting graphs to represent information. The choice of visualization should depend on what exactly needs to be highlighted. For example, to show the parts-to-whole aspect of some data – such as a relative size of a particular patient population – a pie chart is suitable. To compare discrete variables, it is unsuitable, and a bar chart or another appropriate graph can instead be used.
9. Pouring over meaningless data: Data analysis should be done keeping the objective of the activity in mind. This will help team members avoid spending time on data that may be irrelevant to their current endeavor and focus on what matters. Cleaning the data before beginning analysis is another solution. Any data that doesn’t serve the value proposition plan but can be put to use for a different program or problem should be recorded and shared appropriately.
10. Not exercising patience: Data analysis isn’t an overnight job. Data can be grouped, modeled and structured by tools, but putting it in context requires human judgment. Team members should be allowed sufficient time to sift through, clean, organize and probe the data.
Preventing cognitive biases from creeping in
The human mind has its limitations. We can make complex models to analyze data but fall prey to cognitive bias. There are several types of biases that reflect our subjective reality when we should be making rational judgements on the data. Here are a few to avoid:
– Confirmation bias or the use of information that confirms our pre-existing notions, which is similar to cherry-picking as mentioned previously.
– Anchoring bias or being influenced by the first bit of data or information shown, and interpreting new information from the reference point of this anchor rather than assessing it objectively.
– Authority bias, where the opinions of authority figures within a team take precedence, running the risk of ignoring others’ ideas and perspectives even though they may be more relevant or creative for the particular analysis.
– Bandwagon bias or favoring viewpoints or ideas already adopted by others, thereby failing to realize insights that could have been generated with independent thinking and relevant questioning.
– Framing bias or being influenced by the way information is presented (words, setting and situations) rather than the information itself.
Mistakes and biases in data analysis usually occur due to three reasons. One is a lack of adequate technical knowledge on interpreting data and presenting information, aligned to the problem being solved or activity undertaken. Second, a rush job from a lack of time or poor planning that imposes tight deadlines on team members who’re analyzing the data. Poor work planning, which burdens those team members with unrealistic expectations, can demotivate them into rushing through the analysis. A third is a lack of personnel with data analysis experience who understand its finer aspects and are careful to avoid cognitive biases.
Inputs and Q&A after the presentation
After the presentation, allow stakeholders to ask questions and give feedback on the data gathering and analysis methods. Clarify findings that stakeholders couldn’t follow. Answer succinctly; if a lengthier response is required, request the concerned stakeholder to get more information from the marketing team. Alternatively, you can ask the person to go through the market report for detailed explanations, and if some doubts persist, revert to marketing. You could also have stakeholders email their inputs to the team member. The valid suggestions can be incorporated and an updated presentation shared with stakeholders. If suggestions don’t have merit, then they can be disregarded, and the reason for the decision duly communicated. Minor inputs can be noted in the post-presentation session. For example, you can add a slide at the end of your presentation and type ideas from stakeholders to it. Or one of the participants can be assigned to record the minutes of the meeting and stakeholder inputs. This individual should be someone from marketing who was closely involved in the data collection and analysis processes.
Course Manual 6: Preliminary Plan
In the previous phases, the market was divided into segments of customers with similar needs. Using qualitative and quantitative market research, the company came closer to understanding the following:
– what value customers within each segment are looking for
– competitor value positioning: how well the company and its closest competitors deliver the value that customers seek
– the value that will be required in the future
The framework of alignment of corporate positioning and product strategy has also been understood. It began with an assessment of current organizational capabilities and strategic objectives in order to effectively and realistically outline product/service expectations and corresponding value proposition. Market segments were defined and their needs, challenges attitudes, and expectations recorded. Industry trends and future predictions from market research firms were also recorded. The data was analyzed using appropriate tools and approaches, and key findings distilled in reports and a presentation shared with all stakeholders.
With data converted into meaningful and useful information, the outline for the preliminary value proposition plan can commence. The most important activity in this phase will be to build value statements around the customer profiles. On the product side, this activity will inform how the value is to be delivered in terms of product/service features and price. At this stage, an understanding of how best to promote and distribute the product can start forming, allowing the finance department to budget for these business activities.
Value proposition map
A value proposition map describes the value proposition of your product, service or business model in a more detailed and structured way. It is a representation of the product the value proposition is built around, specific ways in which the product alleviates customers’ pain-points, and the specific ways in which the product creates gains for the customer. The nature of pain-points and gains will depend on buyers for the particular industry, such as patients for healthcare organizations or doctors for pharma companies.
The customer profile consists of customers’ gains, pains and jobs. Jobs are the functional and emotional tasks customers are trying to perform, requirements they must satisfy, or challenges they’re attempting to address. Gains are the benefits customers require or expect, the advantages that would delight them, and the differentiators that would increase the likelihood of accepting the value proposition. Pains are the risks and negative experiences that customers deals with in performing the particular job.
With customer profiles at hand, you should be able to determine the value that each target segment can receive. As discussed in the ‘Define Issues’ phase, value needs to be framed in terms of benefits and outcomes as features don’t mean much to buyers, who’re interested in what the product can do for them. Many features and benefits are locked in early in the product development stage. Therefore, it is possible to start building out value statements for customer segments even before the product has arrived in the market.
The customer profiles are important as they allow the value statements to be targeted, and hence attractive to those segments. For instance, a general practitioner catering to people of all ages can identify the distinct challenges, attitudes and requirements of patients based on demographic profiles. While value, in terms of patient care, will be the same for all patients, other value claims around, personalized therapy, can be targeted to customers based on variables such as income, healthcare attitudes (endurers, direction-takers, priority distributors, balance seeker, self-directed individuals). Value maps and customer profiles offer an orderly way to translate features and benefits to outcomes.
Using insights from market research to outline the value proposition plan
A life sciences company can create value statements for physicians, payers and patients. Physicians’ priorities are: helping patients, aiming to cure patients, and running a successful business. Patients want to be cured without side-effects, convenience, and low out-of-pocket costs. Payers are interested in affordable healthcare, keeping their customers, and making profits.
The company must translate product features into economic and emotional benefits for the diverse groups it serves. For example, an appropriate value proposition may be created taking into account the drivers and deterrents of product use by physicians.
Drivers of use can include: lack of quality clinical data, concerns around safety, grave side-effects, unexplained cost-benefit analysis, reimbursement hurdles, poor product availability, product is difficult to use, and adverse impact on outcome. On the other hand, factors motivating product use can include: solid clinical data, easy to use, readily available, easy to reimburse, effectively addresses disease/condition symptoms, improves quality-adjusted life year, ensures patient satisfaction, and a positive impact on income.
Payers’ thought processes in deciding the level of access for the product is also important. Key considerations by payers include:
– What kind of improvement does the product provide relative to current product?
– How big is that improvement and how clearly has it been documented?
– What is the probability that the particular benefit will be actualized?
– How many people are affected by the disease or condition that the product treats?
– Who does the product economically benefit and when?
– What is the amount of incremental cost to the plan?
These questions will help payers make decisions on whether the drug gets on the formulary, the type of co-pay or OOP to collect, the level of access, risk-sharing and more.
Patients’ healthcare decisions are influenced by factors ranging from symptom relief, optimal dosing, safety, and prolonging life, to better quality of life, physician recommendation and co-pay.
The prevalent sentiment around rising healthcare costs should also be noted when outlining the value proposition. Recent reports indicate that one in four Americans are skipping medical care on account of the expense involved. The more prescriptions a person has or the more each drug costs, the harder it becomes to afford. That makes it even more important to focus on achieving the best health outcomes. New and evolving payment models reward quality, not quantity, which can help achieve lower costs while maintaining superior patient care.
You may have carried out market research previously, and findings from the studies may be pertinent to the value proposition program. However, any information that reflects a time in the past where things were different from how they are today or irrelevant to changing customer attitudes, may not suit the purpose of your current activity. So, make sure you have all the data you need to run the program. Supplementing some of it with prior market research may affect the analysis and not accurately represent the current reality of the industry and/or consumer.
Elements of value statements
When customers think of your brand, what comes to their mind? If you have implemented an effective corporate positioning strategy, customers should be able to state a few, if not all, the ways in which you deliver value. Certain elements of value statements are the same for virtually all B2B industries.
Business drivers
How your product/service contributes to business metrics and results will naturally affect buyers’ purchase decision. Potential impact on profitability, sales velocity, efficiency and productivity will come under consideration. Strategic intangible benefits such as brand reputation are also linked to product performance and its impact on organizational workers. The corporate brand image can come under the scanner if doctors prescribing too much and too often. Employer brand, your company’s reputation as an employer, can suffer when a purchase of automated or AI tools to improve organizational efficiency threatens human jobs.
Functional drivers
All functional benefits such as time savings, cost savings, efficiency gains, productivity gains, simplified tasks, reduced effort, convenience/hassle avoidance, and better quality, are ingrained in the value proposition. A medical device that enhances precision, a drug that extends life, a therapy that improves range of movement in recuperating patients, are examples of functional benefits. In the pharma and healthcare industries, functional benefits also translate to emotional benefits, by promising better health, wellness and quality of life, prolonged life, and reduced anxiety.
Emotional drivers
Emotional benefits are the positive feelings experienced by consumers when they use a product or service. While functional drivers win credibility and trust, emotional benefits have the potential to create competitive advantage. A medical practice that meets patients’ treatment expectations and also practices patient-centered care can build strong emotional bonds and build brand loyalty. Loyalty is difficult to articulate for pharma companies. Repeated positive experiences, and greater support – although not necessarily through increased prescriptions – are factors worth considering when promoting to physicians.
Measuring outcomes
When a company says it delivers quality products or services, how does that translate for the customer? As outcomes that the customer was hoping for, and no more does it apply more rigorously than in high-consequence industries like healthcare and pharma. Quality should be measured from the customers’ perception and not the company’s perspective. For a hospital, outcomes should be centered on the patient, rather than the specialty service or individual units delivering the care.
The medical condition, specialty or intervention should also be considered when measuring outcomes. Additionally, the cycle of care and follow-up care will factor into how well the organization was able to realize the expected or desired outcomes.
According to the World Health Organization, an outcome is the change in the health of a person, group or population as a result of an intervention or a series of interventions. Healthcare providers report outcome measures to the government, payers and organization that report on quality.
As far as value-based care is concerned, outcomes for patients can be placed in three categories:
– The health status patients achieve or retain, such as the extent to which they’re able to resume activities of daily living or sports activities; the pain level eliminated after treatment; or the survival rate.
– The recovery process, as seen in the level of discomfort during care and the time it takes to resume normal activity. Outcomes can be affected by diagnostic errors poor quality of care, pain during treatment, complications, length of hospital stay, or infection.
– Outcomes in terms of sustainability of health, the need for further treatments, long-term consequence of treatment, vulnerability to infection.
Why is it important to measure healthcare outcomes?
Healthcare providers can benefit from measuring and reporting on healthcare outcomes for the following reasons:
– Improve patient experience
– Reduce per capita cost of healthcare
– Minimize clinician and staff burnout
CMS’ five-star rating
The Centers for Medicare & Medicaid Services (CMS) use a five-star quality rating system to measure Medicare beneficiaries’ experiences with their health plan and healthcare system. CMS categorizes outcomes measures into seven categories, as follows:
1. Mortality (22%)
2. Safety of care (22%)
3. Readmissions (22%)
4. Patient experience (22%)
5. Effectiveness of care (4%)
6. Timeliness of care (4%)
7. Efficient use of medical imaging (4%)
Mortality: Lowering the mortality rate by standardizing evidence-based care or enhancing overall quality of care is a critical healthcare outcome.
Safety of care: Medical mistakes can encourage hospital-acquired infections and skin breakdowns in patients with weak blood circulations. Keeping mistakes low to contribute to better patient safety are also important outcomes.
Readmissions: Hospitalizations following readmission put a financial strain on patients and also burden hospitals. Post-operative complications are avoidable, which in turn make readmission unnecessary. Effective care coordination programs and patient communication can help keep readmission rate low.
Patient experience: Patients’ experience and perception of their healthcare can be recorded in surveys, and used to rectify issues or errors, and continue maintaining quality levels in areas that reported a high score.
Effectiveness of care: This is a measure of adherence to best practice care guidelines, and the outcomes achieved by patients based on health condition and treatment. Hospitals must monitor treatment outcomes and clinicians’ compliance with care guidelines. Care guidelines must be reviewed from time to time, and changes duly communicated.
Timeliness of care: Timely access to care can be a matter of life or death. Inpatient mortality can result for overcrowding in the emergency department. By increasing length of stay and costs of admittance, overcrowding can also have an adverse economic impact for patients. Triage assessment by the hospital nurse, staffing and registration are some areas that can be explored to ensure that patients don’t have to wait long to access the care they need.
Efficient use of medical imaging: Medical imaging has been seen to contribute to better health outcomes and more cost-efficient healthcare. An example of inefficient use of medical imaging is identifying whether clinicians are ordering X rays for a majority of patients when evidence-based best practices do not recommend it.
Actionable tips on creating outcomes-based value propositions
1. Consider outcomes for the full cycle of care: Health outcomes are created at every stage of the patient’s journey, across primary care, specialized care and rehabilitation providers. An understanding of the full range of outcomes for a patient group, and discrepancies in outcomes resulting from care pathways of health system configurations, is necessary to accurately and objectively determine the reasons for patient satisfaction, dissatisfaction and overall health results and sustainability.
2. Identify outcomes that matter most to patients: The KPIs healthcare providers use to measure performance and quality may not matter much to patients. That makes it important to determine the outcomes that patients’ prioritize, which can include quality of life, functional ability after a surgery, and emotional well-being. Concerns and expectations vary based on patient segments. For example, patients from a lower income group may have worried related to money, energy levels or health insurance.
3. Avoid defining too many outcomes: Select metrics that have the biggest impact on patients to avoid complex data collection and analysis. Assign no more than ten outcomes for each patient group. Additional outcomes can be tracked but the top ones should be the focus areas for the value proposition program. The measures should be easy to track, however, relevance should not be sacrifices for convenience.
A collaborative effort
Establishing outcomes should be a planned process with participation from all key stakeholders. Not only should the outcomes be chosen correctly, but also measurable. Outcome measurements increase transparency, activate continuous improvement, and boost overall healthcare value. Poorly chosen outcomes, on the other hand, can distort results and disengage clinicians and staff.
This is why selecting outcomes should be a collaborative effort. The importance of inter-departmental participation in the value proposition program has already been emphasized in the first phase of the program. With support from stakeholders, the process of determining outcomes is structured, well-informed, and ultimately worth the effort. Surgeons, primary care physicians, nurses and representatives from various functions and specialties should have a say. If extensive data collection is anticipated, then the appropriate technical specialists should be a part of the conversation on documenting data and extracting meaningful insights from it.
Moreover, patients should be involved in the process. The target setting and data gathering stages of the value proposition plan sets the foundation for understanding patients’ experiences, perceptions, needs, attitudes and expectations. Hospitals that are using Patient reported outcome measures (PROMs) questionnaires to gather information on patients’ health and quality of life, can even have patients select and test the PROM tools. The purpose is to include the patient’s voice in determining outcomes that have the biggest impacting during and after treatment.
The process of selecting outcomes should be informed by existing metrics and literature. National and international standards, as well as metrics in use for patient groups relevant to your practice can provide broader perspectives and put the process on the right path. Analyses of healthcare metrics in industry journals and publications can further serve as fodder for deciding metrics and measurement techniques that cater to the modern consumer.
Articulating benefits into outcomes
Features, benefits and outcomes are distinct aspects of value statements and marketing messages. Features are what consumers can see and describe (for a product), or steps of a process and how it works (for a service).
Benefits are the advantages gained from using the product/service. They come immediately after undergoing a treatment, consuming a medication, using a medical device and so on.
Outcomes are the long-term experiences from using a product/service. They offer users a visualization of a future where they’re no longer grappling with the challenge that the product solved.
Depending on the type of industry and offering, benefits and outcomes can be similar or distinct. Less pain, improved appearance, better sleep, and a more active lifestyle are benefits of varicose vein treatments, and also the outcomes that patients can look forward to. Benefits are comparable, such as stating the non-requirement for needles and medications for laser therapy for varicose vein treatment compared to sclerotherapy, which requires both. This benefit can be emphasized to potential customers who have an aversion to needles.
Here is an example of a feature, benefit and outcome for the Diamond Glow advanced skin resurfacing treatment
Feature: Patented motorized handpiece with a diamond-encrusted tip’
Benefit: ‘Softens fine lines and wrinkles’
Outcome: ‘The face looks more youthful, which can improve self-image, and assist career or relationship goals.’
In some industries, convincing buyers about the value proposition the product/service delivers can be especially challenges. Case in point is a medical device/surgical equipment company, which has to work hard to convince surgeons to choose their product over one already in use by the hospital. This is given the fact that surgeons are trained in the use of specific type of surgical instruments, and generally reluctant to switch to new vendors. They’re also heavily incentivized by vendors to remain in a long-term relationship. The sales representatives can be seen in catheterization laboratories and operating rooms, assisting surgeons with clinical decisions and influencing their choice of devices.
Innovation is thought to be one of drivers of adoption, in the hopes of benefits such as enhanced precision, visibility and control. If the product can demonstrate a differentiated benefit from an innovative feature, and link it to a meaningful outcome, then it is more likely to generate interest. Say a medical device company has designed a wound treatment device that applies a transparent layer mimicking skin without coming in contact with the affected area, thereby reducing patient discomfort. Healing can be monitored without having to re-dress the area, and after the wound has completely healed, the layer peels off.
By removing the need for human touch, the device provides an important outcome: reducing chances of infection. Any premium the innovative solution charges may be justifiable if the infection reductions figure in the list of healthcare outcomes targeted by the hospital. However, if the hospital cannot work around the costs, and determine that the impact on their budget would be too big for comfort, then the sale will likely not happen.
Budgetary obstacles often come in the way of innovation at healthcare organizations. Unless the innovative device in question fits their budget, adoption is unlikely or the purchase process likely to be stretched out. If a short-term trial of the product proves costly or frustrating for staff or patients in any way, then the provider will not go ahead with the purchase.
Medical device companies understand that cost concerns weigh on healthcare providers’ purchase decisions. Although provider set specific healthcare outcomes for different patient groups, keeping costs low and increasing patient satisfaction are business demands and healthcare outcomes that virtually all providers target. By taking cost-efficiencies and differences in expected outcomes for different patient groups into account, providers can create compelling value propositions that lead to a sale.
Frame value statements that can be revised and improved
Keeping with the collaborative nature of corporate positioning, any modifications to value statements should also be easily possible, after taking stakeholders’ input into consideration. The document describing the value proposition is a dynamic one that can incorporate further recommendations that may have been missed in the previous phases. As the program can commence at the beginning of the product development lifecycle, any changes to the product in the later stages of development or prior to launch should be adjusted accordingly within the value proposition.
Even as the value proposition documentation is put through the paces in further phases, more opportunities to improve value or assumptions within value statements that must be challenged and/or removed entirely, will become apparent.
Course Manual 7: Review Plan
By regarding value proposition as a concept, companies have more to work with in quantifying value in terms that convince customers to buy. The value proposition can also be used to understand the company’s and product’s strengths, weaknesses, opportunities and threats. In this phase, you conduct a SWOT analysis of the value proposition defined so far. An analysis was also performed in an early phase to determine what the product and organization could realistically achieve, so as to position the product correctly and ensure that value statements are not perceived as dishonest.
Reviewing outcomes as they relate to each other and taking a full view of all benefits and outcomes, is the goal of this stage of the value proposition program. An important consideration here will be whether or not value has been framed around the outcome that the target segments deem as ‘priorities’. This apart, alignment between the value proposition and market findings will be further confirmed and finalized. It might even emerge from the review that some claims may pose a threat to perceived value or that they may be incongruent to the product plan. Any chance for improvement and necessity for rework must be undertaken to prepare adequately for the next phase when the marketing claims will be tested.
Just as how the company has control over its strengths and weaknesses, the value proposition can be adjusted and bettered, using stakeholder input, customer data and market research data. Moreover, a SWOT analysis can reveal issues with the value proposition and why they appeared in the first place, and the opportunities to expand on the value proposition and position the product more effectively before its target market.
Importance of undertaking a review
To appreciate the need for a review at this stage, we can consider the need for an effective value proposition and achieving alignment between brand positioning and product strategy. As positioning is planned during the early stages of the product development lifecycle, it can change as the product journey progresses. Any temptation to run with the outline of the value proposition created so far should be resisted. At best, there’s room for improvement; at worst, some aspects of the corporate positioning need to be modified entirely. Both are worthy exercises as they prevent any mistakes in the plan from carrying to the further stages. They reward the company by ensuring that the final product positioning is successful in the following ways:
It differentiates the corporate brand (or product): A generic offering that is incrementally innovative or competes mainly on price, also has an opportunity to clarify its product positioning. How you position your brand or product/service lines will depend on multiple factors. Corporate positioning offers consumers the ‘whole image’ of your company, while product positioning is specific to the attributes of the particular product, while also affecting the overall image of the brand. If you’re developing a new type of product that isn’t yet offered by your close competitors, the novelty or innovation is the differentiator. The value proposition will describe the differentiator in terms of outcomes to the target customers.
It creates the right perceptions about the company: Perceptions may not always reflect reality. However, in the healthcare and allied industries, buyer perceptions are extremely important because one poor experience with the company can turn away customers forever. After people find a doctor who meets their expectations, they’re highly unlikely to switch to a different practice unless they relocate to a different location, their insurance company ceases contracting with the doctor, or due to a life event.
At the same time, less than satisfactory experience due to the attitude of the care staff or doctor, the level of comfort at the facility, and the quality of communication by the practice, can convince patients into making a switch. So, healthcare professionals must consider factors beyond the clinical quality of care in retaining patient loyalty and include these ‘soft’ factors into value statements. This will create the right perceptions about the provider and give consumers more reasons to consider the company and existing customers to remain with the company.
To challenge established competitors: Brand positioning is a challenge in a competitive market. Companies need to communicate value in a clear way and show it through their product’s efficacy, the economic advantage they create for buyers, and other outcomes that target segments deem as priorities. Positioning is less important for generic, low-cost products; here, high-touch sales and customer service, and smart distribution strategies assume more importance. Cost is perhaps the biggest differentiator and value creator in this case, which can be linked to the low price of the product or its excellent durability. That said, only after a thorough competitive analysis will the company’s relative position to others offering the same or similar type of product, become clear. Based on this knowledge, decisions on value statements, marketing messages, high-touch/low-touch customer engagement, and product strategy, can be more informed and effective.
To rejig the brand image: A company that has acquired a reputation that doesn’t do it any favors, or has engineered a product or planned a new service, may consider changing how it is perceived among its target audience. In the social media age, consumers’ thoughts about a product reach a wide audience, among them people who are local to them or in need of the same product or services as them – in other words, the company’s future customers.
Even in a B2B scenario, perceptions about a medical device company or new private diagnostics center among physicians can factor into the purchase decision. The perceptions can touch upon many aspects of the physician-industry relationship, including payments by medical device companies and pharma companies to practicing doctors. There’s a lot to reckon with, and the corporate positioning initiative is just another way to assess the competition and buyer at a deeper level.
Planning the SWOT Analysis
A SWOT Analysis is a straightforward framework to analyze the value proposition outline and its basis. In this phase, you will probe the strengths, weaknesses, opportunities and threats with respect to the value claims and market research.
The analysis must be structured and transparent to identify and address all components of the assessment accurately and in a timely manner. A solid SWOT analysis identifies all factors impacting the business, product, strategy, project, or in this case, the value proposition.
1. Have a statement of objective
A SWOT Analysis should focus on one objective to ensure focus and avoid complexity. All stakeholders sitting in the meeting should be aware of the objective in advance so they can be prepared with the right questions and inputs. A copy of the preliminary plan should be provided to all concerned stakeholders in advance as well.
2. The timeframe of the SWOT should be clear
Factors such as customer attitudes, market trends, competitive position, resources and political environment, change over time. Corporate positioning is not set in stone, it can evolve and reflect the advancements adopted by the organization in alignment with market demands, and changes to the business model, as compelled by strategic business demands.
3. Prepare questions that encourage discussions
Participants should ask questions pertaining to strengths, weaknesses, opportunities and threats. Whoever is leading the meeting can help them identify and dive into the four quadrants of the analysis. Alternatively, the discussion topics can be shared in advanced so that participants can arrive with their questions and concerns.
4. Use quantifiable data
The analysis should not be based on data, not opinions. As the value proposition program has passed through many phases, and participants are familiar with organizational resources, product capabilities, findings of the market research, the questions and analysis can be informed by facts, trends and discoveries. For example, “We have forecasted a shortage of ‘X’ skill next year, and until we can hire them, delivering ‘Y’ benefit may not be easy.”
5. Start with opportunities and threats
Devote more of the time towards identifying threats and opportunities, followed by inconsistencies in the plan. Strengths can be discussed last, as they do not necessitate any rework. Trends can play spoilsport and a discussion around the dynamic factors that can affect value, is merited.
Mistakes to avoid
1. Generalizing factors: Weaknesses and threats must be articulated in specific terms rather than general terms. A ‘cause’ and ‘reason’ can break down the weakness/threat easily. Quantitative values are also useful in drawing attention to the magnitude of a threat.
2. Leaving out competitors: What if competitors just launched a product that can affect your positioning? The SWOT analysis should make room for a discussion of consequential news from your closest competitors. One tip is to analyze the latest development from the perspective of the customer: how can customers’ perceptions about the competitor and their purchase decisions be potentially affected?
3. Not taking a long-term view: A SWOT analysis is not something you do once and forget about. It can be used to review and adapt to new situations.
Issues that must be caught and rectified
If, for any reason, previous phases weren’t carried out as intended, then the major issues in the value proposition plan will become apparent in this review stage.
1. Over-generalizing the benefits of the value proposition: Customer jobs, pains and gains are not within your control. They’re the observable facts and trends about your market segments. What you can design and offer to address their jobs, pains and gains, are within your control. Over-generalizing of benefits and outcomes occurs when the evidence for a link between a benefit and outcome is thin or no explicit use case supporting the claim exists.
This can be avoided by looking at the customer profile and product benefits separately. By knowing what can and cannot be controlled, you can draw realistic conclusions about what your product can and cannot achieve for your target segments.
2. Address every customer pain and gain: It is futile to attempt solving every customer challenge and rise to every customer expectation. If you focused on the jobs, pains and gains that hold the highest priority for customers, you’re on the right path. On the other hand, a lack of focus can derail the value proposition as well as product strategy by preventing teams from not delivering on any of those things very well. Resultantly, the collective value you offer will be lesser than what you may have achieved by addressing the few key priorities effectively.
3. Not considering all value drivers: Functional, business and emotional benefits are all important considerations when developing the value proposition. Customers in the healthcare, pharma, medical devices and biotechnology industries are interested in forming long-term relationships with providers/vendors. Patients seek quality care and experience at affordable costs. Healthcare providers purchase an innovative surgical instrument only if surgeons are comfortable using it, the device improves safety or promises a benefit that can translate to an economic benefit, and also fits their budget. The company’s assurances should include the things that not only interest buyers and convince them of the product’s capabilities, but also make them feel comfortable and confident going through with the purchase.
4. Mixing multiple customer segments: Customer segmentation is necessary for one overarching reason: identifying the ideal, most valuable segment for different products/service lines. For example, an expensive cosmetic treatment offers the same benefits and outcomes for all women in the same age group, but it is less expensive to those with a household income exceeding $100k and more valuable for those with careers in the fashion, performance and public relations industries. The clinic should focus more of their efforts marketing to women in higher income groups and jobs where physical appearance matters.
5. Using the value proposition as a basis for customer profiles: It is not entirely uncommon for companies to give so much weightage to their product that they fail to account customer motivations and behaviors into account. Once the customer profiles are ready, they start pinpointing only the jobs, pains and gains that they see their value proposition addressing. A way to sidestep this line of thinking is to drill deep into why customers may want to use the product. The ‘5 Whys’ approach, where you ask a sequence of five ‘why’ questions, is one way to understand the customer at a deeper level, and use that to inform your value proposition.
Resolving major issues
If you have to go back and make changes, it is worth the effort and time. Proceeding with a value proposition outline that has many holes and doesn’t represent customer or organizational realities is risky. The review is an opportunity to fill the missing gaps sooner rather than in the end stages of the program. At the very least, you should have clear, explicit answers to the following questions:
Questions pertaining to target segments
1. Who are my target segments? Have we segmented based on geographic, demographic, psychographic and behavioral data?
2. If we could devote most of our time to one type of customer, who would they be?
3. What are the 4-5 key pain-points faced by the customer?
4. What are the 4-5 key outcomes that customers want?
5. What goes through the customer’s mind when they consider a product? What does the buying process look like?
Questions about competitors
1. What value propositions do close competitors offer? How does it compare against what we’re capable of delivering?
2. What are competitors doing that is preventing customers from switching to our company?
3. What are the 4-5 things that differentiate us from the competitor?
4. What are the specific ways in which competitors are better than us?
5. What competitive advantage do we have over competitors?
Questions regarding value
1. What is our reputation in the market or among those we serve?
2. What value are we already delivering to customers?
3. What are customers’ perceptions around the value we offer?
4. What are we doing to meet customer expectations?
5. What are we not doing to meet customer expectations?
6. What value do we provide that close competitors aren’t?
7. Is the difference in value significant enough for customers to really care?
8. What can we offer that encourages customers to continue with us for the long-term?
9. What do customers think and say about our company?
10. How would we like our customers to talk about our company?
The importance of knowing your customer cannot be emphasized enough. It matters at the time of developing a product, creating marketing information, making the sale, and providing customer support. Without this knowledge, quantifying value and creating proof points is impossible. Every brand has the chance to strengthen its existing value proposition and capture the potential to improve their future value to customers. In the healthcare industry, quality is difficult to measure, and its only recently that weighted quality measures have been introduced. Perceptions around value rather than actual value also complicate matters. Patient education and evidence-based care can go a long way in creating positive perceptions and reinforcing the true corporate value.
The value proposition is a public statement of what differentiates you from the competition, and when those differentiators can help a client save money or improve level of treatment, or promise a patient a safer or more effective procedure, then the response is likely to be in line with expectations.
For example, a medical device company can frame its value proposition around the level of product/service it offers. A ‘premium differentiated’ product/service can claim better outcomes or efficacy, has a high-touch customer engagement model. and it is usually an innovative product that charges premium prices. A ‘premium undifferentiated’ product/service innovate in increments and aren’t differentiated from competitors’ products/services. It relies on an established brand image or strong customer relationships to grow sales. An undifferentiated product/service faces the biggest risk of being overtaken by competitors who innovate at a faster pace or new entrants with differentiated offerings.
A ‘value’ offering meet customer expectations for a sufficiently good product/service and sells at a lower price than a premium product/service. It uses a low touch selling model. Basic products and services compete mainly on price. It satisfies the need for a basic service, does not contribute to outcomes and has lower profit margins.
Conveying the value of health screening: The clinical diagnostics industry
How can diagnostics providers show clear value to customers? An effective way is to share credible data on how early or frequent screening for diseases can increase survival rates and well-being. This is based on studies and surveys, which are available online. For instance, do countries in which women undergo breast cancer screening more frequently have better survival rates of the disease? Early detection can save people significantly towards treatment costs.
The data has to be solid, establishing a link between diagnosis and clinical outcomes. The associated healthcare costs of early treatment can be determined in consultation with healthcare providers. On the customer data front, diagnostics providers need to consider attitudes and trends in populations. Usage can be understood in terms of how frequently people are getting tested, whether unnecessary testing occurs, and the customer experience using diagnostic services.
Diagnostic tests can also empower and help people to take charge of their own health. This is an important value proposition in an age where consumers have the tools to self-monitor their health and an awareness around how they can manage their physical and mental health to address risks of lifestyle diseases, age-associated medical conditions, or any disease that they may be genetically predisposed to. Personalized medicine is on the rise, allowing medical decisions, interventions, practices and products to be tailored to the individual patient. Diagnostic tests can improve knowledge of current health status and offer a reliable picture of future health, aiding people’s life decisions, such as family planning.
Providers should educate the masses on the value of early testing and the specific outcomes that they can expect. The importance of early screening, along with a healthy lifestyle, are communicated by physicians. Diagnostics providers and life science companies can discuss new tests with doctors, organize visits to their laboratories, and offer workshops. Feedback from consumers and doctors is vital to understand perceptions around the value of early and frequent medical screenings.
Avoid rushing through with the review
The next phase in the program will involve testing the value claims. In an ideal situation, the value claims should accurately reflect the general perceptions about the brand and validate insights from market research. There will be room for improvements or refinements, but you should try to keep rework low as the program progresses. At least, the most important tasks in every stage must have been performed correctly. This will also earn the endorsement of stakeholders who have participated from the beginning. The onus will be on the marketing team to implement the program – with support from departments heads – and tie loose ends quickly.
You may even be required to make changes to value segments and anything else that does not align with the product plan. This occurs when sufficient information does not alter the situation and letting the issue persist can affect alignment between the value claims and product. The rework may be debated by stakeholders and differing opinions are a part and parcel of the improvement process. The purpose of the review and its impact on the corporate positioning must be emphatically stated to continue summoning the support of all stakeholders and their wholehearted participation throughout the program.
The review is also an opportunity to challenge or clarify among stakeholders any perceptions about the product or market that might, in fact, be at odds with or not closely represent realities. Any obstacles faced during data gathering and analysis – which may have resulted in the issues – can also be discussed and documented so that those obstacles can be avoided during the next corporate initiative/program. By making the effort to iron out all consistencies and address problem areas, the marketing team in particular and department heads in general, can emerge wiser.
Course Manual 8: Test Assumptions
Feedback on the value proposition from internal stakeholders and external entities – the end users of the product – is critical to refine the value claims and achieve a near-perfect alignment between claims and real-world product performance. Alpha testing and beta testing are the feedback modes used by most industries. Their goal is to obtain specific feedback from target segments, in service of a better product or value proposition. The focus of this stage is on planning alpha testing and beta testing, ensuring that they’re executed efficiently and their objectives realized successfully.
Alpha and beta prototypes
Product development occurs in stages. It starts with an idea, which is then developed into a concept or many different concepts of what that idea may look like as a commercial product. With the concept in hand, the development team then creates a working model, which helps determine the prototype’s feasibility. You may have to build several working models to iron out issues and prove the concept’s feasibility.
The feasibility prototype that emerged is proof that your concept can be developed into a product that works as you envisioned. At this stage, you also start considering the technology and components that can be used to make the product. The commercial feasibility is still not established as yet.
Building the alpha prototype is the next step. This is where most of the product development happens. The team will arrange the standard parts, and if needed, design custom components. Issue resolution, testing and iteration will be done with the objective of building a model or prototype of the product that employs the parts that your product will have when you sell to consumers.
This alpha prototype is close to what the product will become. Product validation is impossible without the alpha. The team will refine the design and bring it to the form that will be manufactured and sold. More refinements will be necessary. A comparison against similar products in the market can give clues into the required changes and improvements. For example, can you use components that offer better performance than the ones used for the alpha prototype? Is there room for some innovation? The alpha is an opportunity to test any new insight gained.
Alpha testing is performed in-house by stakeholders. It puts the preliminary plan through further evaluation for an important reason: making it ready for beta testing, which involved external testers. How is alpha testing different from the previous ‘Review’ stage? Alpha testing occurs at a later stage in the product lifecycle, or in this case, the value proposition plan. As the program reaches its last few stages, the pressure is on to ascertain that all assumptions and hypotheses from the previous phases can be validated. Before implementation, the plan must be put through its paces and all aspects of the value proposition plan adequately evaluated and tested.
The beta prototype incorporates all the changes and refinements. It is close to the commercial product. But it won’t be the actual commercial product, which will be mass produced using manufacturing equipment. The beta protype will be put through tests, and upon passing those requirements, the design will be ready for manufacturing.
The alpha build assumed usability and human factors; the beta prototype involves users in the real environment in which the product will perform. Testing the product among early adopter may not be possible in some industries. Say a medical device manufacturer tests its beta protype among users. Any deficiencies discovered during use can potentially harm the product’s reputation. The beta model can instead be tested in-house and design changes incorporated to reduce regulatory risks. If the need for major rework arises, then a different alpha build or additional medical studies may become necessary.
As the device makers must meet regulatory and business requirements, the early designs must be iterated, validated, verified and tested as needed. The effort put into satisfying all requirements will be instrumental to achieving commercial acceptance.
A beta test can be open or closed. In an open beta test, the products is available for use by anyone/a larger group of the target audience. It is explained to them that the product is in its beta phase. A closed beta test, a limited number of testers are chosen to try the product. They could be existing customers, early adopters or select individuals who participated in the market research phase.
Beta testing Examples
1. The ‘All of Us’ research program, a long-term research program involving the National Institutes of Health (NIH) and other research centers, aims to understand how genetics, environment and lifestyle can help determine the best approach to disease prevention and treatment. The beta test participants of the program initially comprised of 10,000 people, with the goal to expand data collection to one million participants from all walks of life and parts of America.
2. A biotechnology company has developed genetic analyzers for the rapid detection of pathogens and molecular markers. The company beta tests the instrument with a laboratory specializing in providing clinical testing results to physicians. The laboratory reports that the instrument was ‘easy to use’, ‘enabled staff to detect several different targets from one sample extraction’, and ‘faster extraction and sample analysis will help reduce overhead expenses’. This is an example of successful beta testing, giving the company confidence to move through the final stages of commercializing the technology.
3. Federal IT projects in areas of medicine and biotechnology beta test their platforms prior to rollout. An example is the testing of the cloud-based bioinformatics platform precision FDA undertaken a few years ago. Users from the genomics community were invited to upload their data, with a key goal being to understand the effectiveness of databases as a source of evidence for clinical validation for specific groups, variants and haplotypes.
Why do alpha and beta testing?
The goal of alpha testing is to resolve defects in the working model before it enters the beta testing phase. For the corporate positioning initiative, alpha testing will involve a meeting of the product development and marketing teams to test the preliminary plan against product performance. Based on features like product performance, usability, overall quality, potential outcomes and so on, the value statements can be adjusted and a better understanding of product capabilities gained.
Beta testing is helpful for the following reasons:
Detecting problems: An obvious purpose of building the beta prototype is to fix issues so that users can have a good experience with the product. From the context of product positioning, beta testing allows the product performance and associated marketing claims to be tested among the target segments. These segments can be the same participants who participated in the market research phase or from a larger group.
Enhancing quality: The assurance of top quality is especially important in high-consequence industries. The product will need to be scrutinized by those who will eventually use the commercialized product. The feedback and insights from participants will be valuable to make changes before rolling out the product or value statements to a wider audience.
Product awareness: In some industries, beta testing also serves to create a buzz about a product or service. However, there is also a risk of poor initial impressions. If everything goes well, end users should be looking forward to the release of the commercial product. Perceptions about the product’s benefits and value can also be gathered through user meetings and focus groups. It also paves the way for useful insights, such as how participants image of the company might change after the introduction of the product versus their currently held views about it.
What to keep in mind when planning beta testing
First of all, beta testing is a planned activity. You should first confirm that you’re working with a model that has all the features and functionalities intended in the commercial product. The beta protype should have incorporated all refinements deemed necessary in the alpha testing phase. At this stage, the product team should be able to provide the assurance that the issues have been resolved to ensure that the beta build functions optimally when its in the hands of testers. The beta prototype is as close as possible to the commercial product.
Impressions about the beta protype should be accurate and well-formed so that marketing can validate or refine the value proposition and products positioning developed thus far.
The beta testing plan should assign clear goals, responsibilities and deadlines. A systematic approach will go a long way in interpreting feedback and making changes in an efficient way. The deadline to commercial launch may be affected if things go haywire during beta testing. Appropriate supervision by senior team members can be planned to ensure that the external validation process occurs smoothly.
The beta test reveals the product to testers. This creates the risk that product information might be leaked to the public and come to the attention of competitors. As a precautionary measure, companies have participants sign non-disclosure agreements that require them to maintain secrecy about the product until it is launched in the market. In a closed beta test that pays participants, the company has more leverage and control.
There’s the positive angle: early adopters who’re satisfied with the product can be relied upon or even incentivized to create positive buzz about it. This is common for new products, with the hope that building anticipation as the launch nears will help drive early sales momentum.
As far as the value proposition and preliminary plan are considered, participants should hold off from publicly disclosing the company’s attempts to position its product in a certain way. Any adverse impact to the company due to revelations – even by a small group of participants – should be evaluated. If the target market is small and confined, then the opinions and disclosures of even a few testers can help create favorable or unfavorable impressions about the product and company.
The role of testers is to provide their feedback. They should be made aware of their responsibilities. That makes it important to choose your beta testers carefully, based not only on pre-defined attributes but also your gut instincts about who might fulfil their responsibility and who might prove risky participants.
Product strategy – Product positioning alignment
Beta testing is an opportunity to test product features and positioning among end users. On the one hand, it allows the product team to test their hypothesis on how users will leverage the product to meet their requirements, and the outcomes they achieve. On the other, it tells marketing personnel if they’re on the right track with regard to the positioning and communications shaped so far into the program.
Additionally, beta testing is a chance to validate whether the decided KPIs correlate to users’ expected behaviors. If behaviors are unsupportive of metrics, then the KPIs will need to be changed or modified.
A third way in which beta testing is advantageous is in pointing out issues that the product, marketing or any other team was resistant to addressing. If user behavior or feedback indicates the that those known issues should have been considered more seriously, then you can determine if there’s any change in messaging or a tweak to the product that can satisfy users’ expectations.
Reaching out to beta testers
Selecting the testers correctly is imperative as their views and feedbacks will be considered in incorporating any quick or minor changes or adjustments that improve the value proposition or product. Typically, new features or functionalities are not introduced in the beta phase. From the product development point of view, beta testing is a means to identify how the beta build should be followed up to meet all or most expectations of the target segments. However, there’s greater flexibility to rework and refine the value proposition. With these points in mind, you should choose participants for beta testing carefully.
– It goes without saying that the beta testers should be a part of your target market. You’ve already created demographic, psychographic and value segments. Your testers should include those you’ve targeted, the customer or corporate clients your product will serve.
– If you’ve tracked people who’ve requested for the particular product features or outcomes, test the beta build among them. Your one-on-one or group interviews should be the basis for making these identifications.
– Not tracked those who shared their specific and/or detailed product expectations? It’s not an issue. Your market research will have revealed what matters most to clients. Beta testing your product claims with your core target base will still give you enough information to initiate refinements.
– Involve existing customers/clients in beta testing. As they’re invested in your product and company, their feedback can be counted upon.
Maintain good relationships with testers as they may be willing to participate in future initiatives. This will also help cut down on the time needed to find participants and allow tests to be run efficiently.
Asking the right questions
Live data is the best way to validate your hypotheses. This data will come from your target segments. As mentioned above, one group you can more easily use for the data is the people you interviewed or surveyed during the market research phase.
You can go deeper, testing the hypotheses with your ideal customers. They’re those who have a need for your product and believe that the features similar to the ones your product has, can help them achieve specific outcomes in terms of performance, quality of care, cost reduction, and revenue enhancement, to name some. So, choose those people among your target segments from whom you can expect the most meaningful feedback.
A simple test is to check if your value statements elicit interest from testers. Do the benefits and potential outcomes intrigue them and give them at least some reason to consider you product? A more detailed feedback is necessary to gauge whether your value proposition has actually struck a chord or if testers are being more positive than what they might really believe about your claims.
Asking questions pertaining to value statements on price may be able to garner honest, straightforward responses. Factors like the cost and overhead expenses are difficult to work around even for the most innovative products. Unless the outcomes far outweigh the price and the investment can be recouped, hesitancy around adoption will likely be present. Depending on the industry, discounts on volume purchases, special incentives, company shares and other marketing tactics may swing the deal in your favor. That said, when you test assumptions, you’re only interested in specific feedback pertaining to the value proposition.
In a situation where a hypothesis doesn’t bear out, you will have the answers to where you went wrong and what you’ve believed so far holds true with your target segment. For example, the surface benefits of the product for similar groups of customers may be the same, but the core underlying need varies across them. Beta testing informs you about those motivators that may not be masked or not completely understood during buyer research. Of course, you may be able to successfully gauge underlying motivations when you interview/survey members of your target market in the previous stages. In this case, your hypotheses will be confirmed/proven.
There’s always room to come up with alternative value elements and cost components. The product capabilities cannot be changed drastically, but positioning can always be adjusted to reflect the most compelling virtues of the product to the target market.
How long should beta testing take?
Beta testing of a product should run for as long as it takes the testers to use the product and document outcomes. Usually, this doesn’t take more than 8-10 weeks, but can be shorter or linger depending upon the product. As assumptions on product performance and value proposition will be validated in this stage, due time should be set aside, subject to the following factors:
– The program deadline: The time for beta testing will depend on the positioning program’s scope and schedule. When is the product scheduled for release? How soon can the preliminary plan be available, depending on the extent of changes it went through in the previous phase? These two factors will help you determine a suitable beta testing timeline.
– The beta testing goal: What are the various parameters that will be tested? How many questions will you ask testers? Based on these factors, approximate how long might it take for testers to provide their feedback.
– Your bandwidth: The time and resources that can expended on beta testing will also affect its schedule. The number of testers you will bring in and time needed to find, recruit and qualify them should be considered. Do the research how much time beta testing in your industry takes. Prepare tasks and allocate a reasonable amount of time for each task.
Expect a bulk of the time to be spent on preparing and running beta testing. Once you have the results, closing reports and wrapping up meetings are usually quick affairs. Planning the beta test in advance can prevent any last-minute hassles or burden during this stage of the product development lifecycle.
It is quite common for some industries to outsource beta testing. However, in high-consequence industries, there’s less scope to entrust a third-party with the entire process. Third parties may be helpful for some tasks involved in the beta test, such as recruiting testers. However, the most critical tasks must be left to in-house staff.
Depending on the product for which the value proposition is being developed, beta testing can be an open process. In this case, external entities, such as beta testing as service providers can prove their usefulness by providing email lists of beta testers. You can also invite your customer segments on social media like Facebook, Instagram, LinkedIn and Twitter to enroll. If you’re planning a large test group, then forums and communities can serve as resources, to add to the count of customers, interviewed/surveyed target segments that you’ve already shortlisted.
Course Manual 9: Issue Resolution
Even after the entire plan for the corporate positioning strategy is prepared and ready, marketers can never be too sure if the plan is failproof. A lot of hard work has gone into developing the product positioning strategy up to this stage. That is why it is important to be doubly sure that there are no lingering issues left unattended. To ensure that the corporate positioning plan is flawless and the value proposition hits the target, it is very important to go over the details again and again.
One of the primary purposes of this corporate positioning training program is to help identify the issues present in the current value proposition. The best way to identify weak links in the positioning strategy or the value proposition is by asking the right question. A company needs to question itself on every process being carried out and every segment of the value proposition plan accomplished so far. To move ahead of the competition, it is important to doubt and question oneself and ensure that chances of failure are minimum, before stepping into the market.
Basically, what is needed is to conduct another gap analysis in this phase. This gap analysis, however, is for the planned product positioning strategy unlike the one discussed in Course Manual 1. The analysis in stage 1 was focused on product development and opportunities in the market, while the current gap analysis will find out if there are any shortcomings in the proposed product positioning strategy.
It is important to conduct this analysis before the implementation of the proposed plan. Time is money, particularly in business. Getting
things right the first time is always better than having to revisit the strategies after they have been put to action. Detecting faults after the corporate positioning plan is up and running will not only cost valuable business hours but will also bring the morale down for the entire team that has worked so hard to deliver a successful strategy.
This does not mean, of course, that there will be no changes to the strategy after implementation. For continuous development, it is important to adapt to changes in the environment and so the product positioning strategy will also change and be updated from time to time. But ensuring that the current strategy is implemented after thorough scrutiny means it has a higher probability of succeeding and future changes will only be strategic moves, instead of corrections.
Which questions do you emphasize on in this phase?
Goals have already been set for the corporate positioning and all that is needed at this stage is to check whether the proposed plan is ticking all the boxes. So, the questions that need to be asked should also be related to the goals and objectives that had been formulated in the very beginning. Some of the important questions that need to be asked both to marketers and the team involved in developing the positioning strategy are these.
1. Are the goals aligned with the product capabilities?
We have already discussed in the previous sections how important it is to align product positioning with the business strategy. It is also equally important that the goals that are set for a product are achievable in the first place. If the goals and objectives are too far-fetched, the value proposition will not be sustainable. What the product promises must be delivered to win consumers’ trust. Since the team has already analyzed the product features in the very first stage of this corporate positioning process, this is a good time to assess whether the goals they have set will be feasible, considering these features.
For example, say the product is a solar powered surgical light and the value proposition says that the product is suitable for long surgical procedures. While the surgical light has a capacity of only running 3 hours at a stretch after charging. So, the value proposition, or the goal that has been set for the product, is not achievable in its present capacity. When the product does not deliver the value it promises, not only do current customers turn up unsatisfied but the business loses future deals too as word-of-mouth has a major role to play here. That means there is a need to rethink how to frame the value proposition for the product so that its position in the market is sustainable.
To ensure that the value proposition planned for a product and the goals set for the product are aligned, feedback must be taken from the product development team. The people involved in product development understand the limitations of the product and are in a better position to determine if the marketing team has overshot with the value proposition or if it needs something more to achieve the set goals.
2. Have all customer segments been taken into consideration?
A product is positioned in the market keeping a target customer base in mind. Market Segmentation has been discussed in detail in Course Manual 3. When drafting the product positioning strategy, the team has already studied the market and the buyer persona to identify which segment of customers a particular product would cater to.
At this stage, it is important to verify whether all probable customer personas have been taken into consideration during the initial stages. The value proposition or positioning of a product in the market will determine which segment of customers are drawn into the sales funnel.
The healthcare industry can have numerous market segments and the same product can be suitable for more than one segment. If the product positioning is too focused on just one group, it will miss out on a huge opportunity to lure customers from the other demographics, although it had the potential to serve them as well.
Consider the example of a health drink. Health drinks are usually positioned as products suitable for children or growing teenagers. However, there may be many benefits of these drinks for adults, particularly the elderly, as well. If a health drink that is rich in calcium, say, is being positioned as a drink for children alone, it is missing out on a large segment of the market that includes adult women and elderly people who also need to include more calcium in their diet. Thus, instead of calling it a children’s health drink or highlighting only the features that are beneficial for children, it can be marketed as a family health drink which is likely to increase sales.
3. Does the value proposition highlight all unique differentiators?
In the previous course manuals, we have emphasized on the importance of a differentiation strategy in product positioning. It is essential that the product positioning focuses on the uniqueness of the product and highlights how it is different from all other similar products available in the market. At this stage, it is time to evaluate the value proposition to see if all the unique differentiators have been put to use, be it in the features, benefits or outcomes of the product.
It is important to go through the value proposition and identify any further scope to introduce a differentiator if it hasn’t already been included in the first draft. If the team had previously found out that not too many differentiators were used in the positioning strategy, by this time they must have figured out more ways to distinguish the product from the competitors. These differentiators need not always be in terms of the features of a product but may also be the pricing or the market segment it targets or the consumer pain points it claims to address.
If a product has the same features and benefits as the competing products in the market, but is being offered at a lower price, this is definitely a differentiator worth mentioning in the value proposition. Instead, if the marketers are only focusing on the features or benefits which a consumer can get from any other product, they have not directed a customer’s attention to the right place. The cost saving is the most important differentiator that the customer would be interested in here.
Or say a product is generally available in one universal size, such as a wrist band or a knee brace for injuries. You’re delivering the same product but in different sizes, keeping in mind very young children who might not benefit from the universal size wrist band as it would be a loose fit. Your value proposition in this case should include the fact that the product is available in different sizes, including for children. That is your product’s USP and keeping that out of the product positioning plan would be a big loss, since people don’t expect much else from a wrist band.
In other words, the idea is to review the product positioning strategy and the value proposition to see if any important differentiator has been left out or if more substance can be added to the proposition to improve sales or attract a bigger customer base.
4. Will the product positioning get outdated over time?
When planning a corporate positioning strategy, the aim is to have a strategy that can stand the test of time. Markets are dynamic and it is certain that the competition will evolve, technology will be upgraded and customer preferences will change. But this foresight is important during the planning and development stage itself. The value proposition that will be put forward for a product should be developed keeping in mind the changes that may occur in the next 5 to 10 years at least.
The product must remain relevant to the consumer if it has to withstand counterattacks from competing brands. When a competing brand comes up with an upgrade, will your current value proposition be of any use to the consumer?
For instance, during the Covid-19 pandemic many pharmaceutical companies have introduced their own brands of disinfectants and sanitizers that claim to be effective in keeping all kinds of bacteria and viruses away with 99% efficiency. In such a case, will old disinfectant brands die down or is their product positioning robust enough to compete with the new players? Brands like Dettol and Savlon, for example, have positioned their products in such a way that none of the new brands can shake them from their standing in the market. With very few minor changes to their value proposition, incorporating their effectiveness against the coronavirus, they have remained relevant in the current times too.
Of course, where technological advancement is involved, maintaining relevance over a long term becomes difficult unless the product or service is constantly being upgraded. Value renewal is possible under such circumstances, where new features can be added to the product and the existing value proposition can be further enhanced. So, the product positioning needs to be done in such a manner that the upgrades can be easily included in the value proposition without any major overhaul being necessary.
5. Was the initial assessment done thoroughly?
The very first step in this corporate positioning process was an internal analysis of the product features and company culture that can affect product development and outcomes. In Course Manual 1, we have seen how internal analysis can be done and what tools to use for this assessment. This initial assessment is the foundation of the entire positioning process. It is essential to check that the assessment was on point and the resulting positioning strategy takes into consideration all aspects of the product and the business and works in conjunction with the business strategy.
The gap analysis carried out during the initial assessment is one of the most important steps in determining the competencies of the product and processes of the company as well as identifying opportunities for improvement. During this stage of issue resolution, it must be ensured that the gap analysis was done thoroughly and any issues or incompetency that surfaced have been addressed in the planning stage of corporate positioning.
Reviewing the internal assessment process and results again would bring to light any discrepancies that may have been missed or left unattended the first time. Addressing these issues and refining the product positioning strategy before implementation is crucial to its success.
6. Was the data collected correct and relevant?
A lot of data is collected during the initial assessment for any process in a business. We have seen how important it is to rely on concrete data, rather than on opinions or advice. But data does not always reflect the information that is essential. The numbers may be correct but are they relevant to the assessment that is being carried out?
For instance, if you are offering a cosmetic dental procedure you may want to check how many people get dental braces each year and to which demography they generally belong. However, if you are collecting global statistics, it may be highly accurate data but is irrelevant to your product placement strategy. You rather have to focus on the local statistics. So, say you are offering the procedure in New York, you need to know how many people in New York go for a cosmetic dental treatment each year and what income group or what profession they belong to.
Therefore, at this stage it is important to verify once again whether the data collected during the previous stages are relevant to the process and correct. To check for relevance, it is important to keep the goals and objectives of the corporate positioning strategy in view. If the information collected from the data is in line with the goals of the strategy, that is it helps in developing a value proposition that will fulfill the set goals, then the data is relevant.
7. Has the data been analyzed correctly?
It is also possible that the data is correct as well as relevant but the interpretation was not accurate enough. An important part of assessment is analyzing the data collected. Course Manual 5 explains in detail the different methods of analyzing data. For analyzing quantitative data, using the correct measurement scales is important to ensure that the analysis is correctly done and makes sense for the marketing team to use this information effectively.
Similarly, for qualitative data content analysis should be as accurate as possible to make sure that the correct inferences can be drawn from the data, which have relevance to the research question.
Review the data analysis carried out in the initial stages to see if the analysis of the data collected for the brand positioning problem has been done correctly. At this stage, it is also required to determine if there are any more questions, pertaining to market trends, competition, customer behavior or other statistics and facts, that need to be asked in order to develop an effective value proposition for the product.
8. Has user perspective been taken into consideration?
How the consumer perceives the value proposition has the highest impact on its success. All the efforts put into framing a successful value proposition are targeted at convincing the customer that the product is better than other products in the market in one way or another. That is why it is very important to look at it from the customer’s perspective to determine whether it really adds any value for them.
Feedback from existing customers or a sample of the market segment targeted is the best way to find out if the assumptions considered in drafting the value proposition are correct. A short questionnaire can be sent out to existing customers or a small group of people fitting the demography targeted with a little incentive such as a gift coupon or a cashback offer. The questionnaire should gather their opinions on your proposed advertising campaigns and the brand image that these campaigns are projecting. It should also ask for the respondent’s opinion on the value proposition and whether they really find the features of the product and the value proposition cohesive.
9. Are there any gaps or loopholes that may have been missed during initial assessment?
Lastly, reviewing the company culture, product development capacities, utilization of resources etc. once again will help to figure out if any holes in the positioning strategy still exist. It is important to gauge how each factor impacts the state of the product positioning strategy. They can be estimated as percentages, in the form of a rating system or simply marked as high, medium or low. If there are any high impact factors that are lowering the value of the product, such factors must be kept under check or eliminated.
The value proposition of a business or its products is not only targeted at attracting more customers but also to persuade other stakeholders that an association with the business can be profitable. It also motivates and guides existing as well as new employees to work towards the common goals and plans of the business. That is why it is all the more important that the value proposition and the brand positioning is free of any flaws because these are the things that tell your employees what is expected of them, and your associates about what to expect from your business.
By the end of this stage, all team members must be positive that the corporate positioning plan is thoroughly reviewed and resolved to ensure success after implementation. Some changes in the future will be inevitable as that is the nature of a product’s lifecycle, but being assured that the ground work has been done meticulously makes the future developments much smoother.
Course Manual 10: Implement Solutions
The job does not end with the drafting of a corporate positioning plan or resolving the issues. The launch of the product or service is an equally important part of the positioning strategy. The activities leading up to the launch must also be carefully planned and executed to ensure that the product delivers maximum impact in the market and engages the target customers as expected.
There are basically three approaches to launching a product.
• Launching in an existing market whose dynamics are well known to you
• Venturing into a new market not dealt with previously
• Catering to a new market segment in the existing market itself
Irrespective of which approach is chosen, the launch of a product or service has to happen in a phased manner and there are numerous stages on the way to the final release in the target market. The market and the consumers have to be aware of the product well before its official launch. It is also important to test the waters first before diving into the broader market, by testing the product or service with a smaller group of users and gathering feedback.
The timing of the launch also affects how consumers receive a product and how they are influenced by its value proposition. For example, if there is a new immunity boosting drug that you are launching, timing the launch around the fall or winter will generate more interest among the target customers. Since most viral infections such as the flu occur during these seasons, people would be more likely to buy an immunity boosting medicine as a precautionary measure. Thus, the time of launch can directly impact how your product fares in the market.
A product launch, be it in a new market or an existing one, requires the collaboration of various internal teams. It is important to bring everyone on board, starting from the publicity team to the sales team to the support team and others. So, the first step to take before the launch of the product or service is to brief and train the people for a successful launch as well as for post-launch activities.
Creating a product brief
The product brief is going to be the most important tool in communicating with the various teams from this point onwards. A product brief is a short document, usually between 1 to 3 pages long, that provides all the critical information about the product, or service, which the teams should know. The same brief can be used across all teams involved.
Key elements of the product brief
The product brief should clearly convey all the features, benefits and outcomes of the product. It should also communicate the value proposition that has been meticulously crafted and refined. It should help the marketing and sales teams understand the message that is to be conveyed to prospective customers. The brief will also help identify the best channels for marketing the product in order to have maximum reach into the target market segment.
A good and comprehensive marketing brief should contain the following sections, apart from any other additional information.
• Product name
• Product description
• Target customer/market segment
• Summary of the customer pain points addressed by the product
• Product’s value proposition
• Product’s features and benefits
• Outcomes of the product for the customer
• Release date
• Launch plan and schedule of activities
• Product pricing
• Sales and customer service talking points
So, the product brief becomes the one document that ties all the teams together, bringing them on the same footing. The product brief is meant for internal use only and should not be circulated to anyone outside the company. It is a sensitive document containing many of the key strategy points which should not be made known to competitors or consumers either.
Collaborating with the marketing team
Marketing activities for the new product must start much before the launch date. It is important to build anticipation among the target customers for the product to be received. This is done by pre-marketing, which is promotion of the product before the launch. This creates awareness about the product in the target market segment and drives sales once the product is released.
Product promotion
Different marketing activities may be undertaken for promoting the product which can involve both digital platforms as well as offline marketing. Some of the tried and tested methods adopted for promotion of a new product include
• Collaborating with a PR agency, or the in-house PR team, to arrange for a press release to talk about the product and announce the launching date.
• Collaborating with bloggers, industry influencers and journalists to create content related to the product giving consumers a quick review of the features.
• Advertising in print media and digital media, depending on the budget allocated for pre-marketing.
• Creating a landing page dedicated to the product on the company’s website.
• Creating email campaigns with a call-to-action encouraging the target audience to signup in order to learn more about the product.
Marketing collaterals
The marketing team also needs to develop collaterals that will aid the product’s launch by generating interest in the target audience. These collateral materials must be created keeping in mind the positioning statement of the product. Collaterals can be any kind of content or material that demonstrates the core value consumers will get from using the product. These could be demos of the product itself, case studies that show how other users have benefitted from the product, infographics representing the benefits of using the product, explainer videos, catalogs, product comparison pages and much more. Any material that supports the sale of the product can be used as a collateral.
For example, if you are launching a new physiotherapy clinic it would be wise to start publicity for the same at least a few months before the opening. The collaterals that you can use to grab your target client base’s attention could be case studies on former patients who have benefited from the treatment. The case study can discuss in detail the health issues faced b the patient and what your treatment did differently from other physiotherapy treatments, that showed results. This account of a previous case would generate interest in other prospective customers with similar health conditions and urge them to take action once the service is launched.
It is important, though, to highlight the value proposition of the product or service in the collaterals as well. The product positioning statement should also be kept in mind when creating these collaterals. For instance, in the example stated above, if your target market segment is people above the age of 60 the case study should be based on a patient from the same age group. This ensures that you connect with the right audience and your brand’s position in the market is clearly defined.
These are the activities that will require the expertise and foresight of the company’s marketing team. The aim is to reach as many prospective customers as possible and generate awareness about the value that the upcoming product can add to consumers’ lives.
Training the sales team
Once the product is out in the market, it is the people in sales who will be communicating with clients to make a sale. The purview of the product development and marketing teams are limited to designing a product, determining its value and positioning in the market, and publicizing. The baton is then passed on to the sales team. But all the hard work prior to this stage will be wasted if the sales team is not briefed well. The people in sales are the point of contact between the company and the market. They need to be aware of what they are selling and what the product’s value proposition is.
For effective implementation of the value proposition and the corporate positioning plan, the sales team has to be capable of communicating with prospects about how and why the product or service would be valuable to them. This is where the value proposition can have maximum impact on the consumer. How the sales team handles customer queries and convinces prospects of the value they are about to get, can directly influence the volume of sales.
The sales teams should be familiar with goals and objectives set for the product and the company as a whole, as well as their role in achieving these goals. Sales teams should also be trained on what key points to focus on when talking to a prospect, how to engage leads and what sales techniques to apply in adherence with the organizational guidelines and ethics.
Training the implementation or support teams
The implementation and support teams are the people who ensure that the value promised by marketing and sales are actually delivered to the end user. Implementation of the value proposition only starts after a sale is made. So, the responsibility of the company does not end once a product is purchased. The services of the implementation team and customer support team play a very important role in adding value to the customer’s experience.
The implementation and support teams should be diligently trained and educated on every aspect of the product or service. This includes how the product or service is designed, what benefits it offers, who the consumer base comprises of, what value it is supposed to add for the consumer and how a consumer is expected to get the product or service operating.
They should also be trained to handle customer queries and provided with probable questions that a customer is likely to ask. The implementation and support teams should also be made aware of common issues that may arise during the setting up or operation of the product. The support process must be clearly defined, first response teams must be delegated responsibility and escalation policies must be laid out straight to ensure that the customer has a seamless experience and the team has a set procedure to follow. The contribution of each team involved in the pre-launch and launch activities is crucial to establish the brand positioning in the market as planned. First impressions are going to be very important throughout the life cycle of the product and so ensuring that these processes are carried out smoothly is imperative.
Launching the product or service
The launch of the product itself has to be divided into phases. Going out into the broader market without first testing the product on a smaller scale is never advisable. Despite all the scrutiny and refining throughout the product development stages, there may still be certain aspects of the product that are not adding enough value from the customer’s perspective. These minor flaws can only be detected when the product or service, in its current state, is used by an end user. Thus, testing the final prototype at least a few months before the official launch leaves the development team with enough time to make any necessary modifications based on the initial feedback.
Product testing
The product or service that has been developed into its final shape has been built on the basis of certain assumptions and data that are no doubt thoroughly verified and analyzed. However, the final product has to be tested to ensure that all of the research and hypotheses used have been able to deliver exactly what a target customer would want.
Product testing before the launch can be further divided into two stages – prototype testing and market testing.
Prototype testing
In prototype testing a prototype of the product is created and a small number of people, fitting into the market segment targeted, are invited to try out the prototype. After having used the product or service for a limited amount of time, the test group may be made to undergo a survey that asks them about their experience with the product and issues faced with it. This initial testing of the product prototype can give very valuable insights into customer satisfaction with the features and the perceived value. This helps the developers determine whether the product is delivering what the value proposition promises.
Any necessary modifications in the design of the product may be done after this testing to ensure that customer needs are met to the best of capacity.
Market testing
This is the last stage of testing prior to the launch of the product or service. Market testing, also sometimes referred to as soft launch, involves launching the product in a small area of the target market for a limited period of time. This is somewhat different from product testing since here the focus is more on how the product performs in terms of sales. Market testing is usually done with only the core aspects of the product, after product testing and necessary modifications have been completed. Any additional features or add-ons can be included after this stage. In market testing, we do not look for direct feedback on specific features of the product as that has already been covered by prototype testing. The attention is more on how the product performs in the market. However, during the course of testing it may be seen that the product is delivering more than what was expected, or in some cases lesser than what was expected. Such insights can help improve the product as well as the product positioning strategy further. Product testing before the final launch also ensures that the value intended to be delivered is being received correctly and well understood by the consumers. Any misconceptions among consumers about the value proposition, that may put the company’s reputation at stake for allegedly making false claims, can be addressed at the testing stage itself. This prevents any damage to the market penetration activities or the overall success of the product after it is launched.
Developing the early rollout strategy
After testing is completed, the product can be officially launched after which the rollout strategy has to be implemented. The rollout can be carried out in a phased manner as well. A well-thought-out strategy is equally important for the final rollout of the product as it is for all other processes so far. The phased rollout can be segmented based on different criteria in order to make it easier to monitor the performance of the product. For instance, customers can be segmented geographically. Say for the first phase of the rollout the product is made available to only a small section of the market within a 500-mile radius. This allows for easy communication with every customer, be it in person or through electronic media, as the customer volumes are still quite low and manageable. Communicating with the customers at this stage could give some more insight into how the product is performing and whether any further changes are necessary before expanding to other markets. If the product or service caters to businesses, segmentation can be done on the basis of client company size as well. Dealing with very large companies in the initial stages of the rollout may be challenging and gathering feedback can also be tedious. To avoid such complexities, an optimal company size can be determined for the first phase of rollout. This helps to get feedback from the key users of the product or service or the respective departments in a timely manner.
Customer feedback from initial rollout
Proper measures for gathering feedback must be in place during the initial rollout phase. This can be done through a variety of methods. Some of the commonly used methods are listed below.
• Targeted website surveys
Survey forms can be added to the website such that they appear exactly when and where they are intended to appear, as a pop-up, say. This can be on a particular landing page, or after a user has spent a certain amount of time on the home page. Multiple choice question types can be used where responses may be added as checkboxes, text fields or smiley faces. If these surveys are targeted well, the response rates can be quite high.For instance, say your company offers services in clinical diagnostics to patients and their reports are made available in their user accounts on your online portal. This could be a good opportunity to collect client feedback. After the reports are downloaded, a pop-up survey can be used to gauge the client’s satisfaction with your service and their overall experience with your company.
• Feedback buttons
Feedback buttons may be added to the home page on the website. These are static buttons that constantly appear on the side and the user can click on them to open up a text field for writing the feedback.
• Net Promoter Score
The Net Promoter Score for a product or service tells how likely customers are to recommend the product or service to friends and family. The questions are scored on a scale of 0 to 10. The NPS is calculated as the percentage of customers likely to recommend the product or service, scoring it a 9 or 10, minus the percentage of detractors, that is those customers who score the product or service below 6.
Net Promoter Score = % Promoters (Scoring 9 or 10) – % Detractors (Scoring <6). So, the higher the NPS, the more likely customers are to promote the service or product in their circle. This directly translates into the amount of word-of-mouth marketing as well as returning customers that the business can expect. The NPS question that is used by most businesses on their websites is “How likely are you to recommend this product/service to your friends and colleagues?” accompanied by a scale from 0 to 10, where 0 translates to “not at all likely” and 10 means “highly likely”. There can also be a follow up question such as “What is the reason for your answer?”, but this is not always necessary.
• In-message surveys
In message surveys are conducted through emails or chats, where a survey question is sent to the customer’s inbox. If the customer clicks on one of the answers, that answer will be recorded and the complete survey may open up or the link may simply take them to a thank you message. These surveys are more convenient for customers to take as they are usually short and the question appears directly in their inbox. Since most companies collect client information when closing a sales deal, email addresses and phone numbers are readily available. That makes this a very convenient way of conducting a highly targeted survey.
• Questionnaires
Questionnaires are more detailed surveys that can be distributed through any channel, including email, chat, website, social media or others. These are generally long, multi-question feedback surveys that gather in-depth information about the customer’s experience with a product or service.
• Follow up calls
Feedback can also be collected the traditional way by following up with the customer over phone. These follow up calls make the feedback experience much more personal for the customer as there is direct interaction with a sales or service representative and that adds to the overall customer experience for the product, contributing to the brand’s position as well.
• In person follow up meetings
In person meetings are another step up from telephonic follow up method. Following up with the customer and collecting feedback in person can bring even better results as the scope of misinterpretation of misinformation is minimized. If the surveys after the initial rollout phase yield positive results and the product or service meets the expected standards, then it is ready to be expanded into other segments of the market until the entire target market has been covered. Successful implementation of the corporate positioning strategy requires the combined effort of all the teams involved, particularly when multiple and diverse markets are being served. It is important for all the teams to come together for regular meetings to discuss any recent developments and share day to day updates, in order to ensure that the implementation is running successfully and consistently. It is also important to update the company leadership on a regular basis who can ensure that all teams are working together with the aim to achieve overall corporate objectives.
Course Manual 11: Monitor Activity
Monitoring is a continuous process that does not end with the launch of the product or implementation of the corporate positioning plan. Throughout the entire corporate positioning training program, we have been emphasizing on the importance of continuous monitoring through internal assessments, market data collection, customer feedback collection and more. These monitoring activities also find their way into the remaining part of the commercialization phase.
It may seem that once the product has been successfully launched and is performing satisfactorily in the target market segments, there is very little scope for any more volatility. But as we have mentioned time and again, markets are dynamic. There is new competition springing up every minute and customer preferences don’t take too long to change. That is why it cannot be taken for granted that once a product has won customers’ goodwill, it will continue to enjoy that status for the rest of its lifecycle. Not only does customer preference change but the product positioning also loses relevance over time. It becomes necessary to rethink the existing positioning strategy with respect to the new developments in the market.
For instance, as soon as a new competitor appears in your target market, your existing value proposition may no longer be capable of attracting customers. Changes to the product as well as its value proposition become necessary in such a situation to maintain relevance among consumers.
How continuous monitoring helps
Continuous monitoring helps in identifying some of the key market trends and predicting future trends as well. Identifying trends in the target market segment help in planning new developments for the product to keep up with the industry standards. It reveals how the cycles in the industry shift and helps eliminate uncertainties caused by changes in demand or slow sales.
Monitoring the product’s performance can also help understand what is its current market share, what the competitors are offering and what needs to be done to increase the market share of the product.
Continuous monitoring helps in detecting these market compromising issues well in time, before they can take a toll on the ongoing success of the product. The methods of collecting feedback discussed in Course Manual 10, which included online surveys, follow up with customers rating systems, should be continued even after the launch of the product. However, to monitor the performance of the product and the program’s overall success, implementation of certain metrics is essential. Surveys or feedback alone cannot give an accurate measure of success.
Key metrics for performance monitoring
Some important launch campaign KPIs that can be used to determine the success of a product after its launch are listed below.
Promotional channel metrics
Promotional channels such as emails or social media are central to the marketing efforts for a product. Using certain metrics to determine the success of email campaigns or advertising campaigns can give a clear idea of whether the marketing efforts are paying off. These metrics can be email open rates, click through rates, analytics obtained from individual social media pages, website traffic etc. These key indices can help determine the effectiveness of the product positioning and promotion strategies. They also indicate the number of potential leads for the product or service
Lead generation
Qualified leads generated after the launch of the product is a KPI that more or less classifies a launch as a success or a failure. It is these leads that have the potential of turning into future customers. The more leads generated, the higher are the prospects of making a sale. Leads can be any kind of engagement shown by prospective customers which include product trials, demo requests, any action taken on the product landing page such as clicking on the product description or even downloading a catalogue. Anything that shows a prospect’s interest in the product may be considered as a lead, which can turn into a sale if nurtured well.
PR coverage
The amount of news coverage that the product or the launch event gets can also be considered a valuable KPI for measuring the reach of the marketing campaigns. Tracking the number of news articles or blog posts that have mentioned the product and gauging the quality of these articles, can be a good way to measure the effectiveness of the PR coverage for the launch.
Apart from these marketing KPIs there are also KPIs related to sales that are capable of measuring the performance of the product in the market.
Market share
All industries, including healthcare or pharmaceuticals, have a large number of competing brands and products in the market. In such a case, the market share captured by the product is an important indicator of how well it is performing in comparison to its competitors.
Revenue generated
Revenue generated from the new product or service is an important KPI to measure the success of the new launch in terms of sales. More revenue indicates higher sales, which in turn means that customers are finding the value offered by the product worth paying for.
Sales by region
The region wise sales data is a key metric that tells how the product is performing in different markets. If the sale in a particular region is found to be low, this serves as an opportunity to determine the cause and adopt measures to improve the figures for that region.
Total monthly sale growth
This is another KPI that helps determine the performance curve of the product. The different stages in a product’s lifecycle have been discussed in Course Manual 1. Going by the product lifecycle, every product should undergo a market growth after the initial market development stage. During the market growth stage, the sales should increase as a result of growing demand for the product. If the monthly sale reports show otherwise, there has to be a problem with the product positioning or promotion strategies which need to be addressed before it hits rock bottom.
Sales by contact
This metric indicates which contact method used has been able to generate the highest number of sales. These contact methods generally include email, telephone, social media channels or in person. It indicates whether the channels being used are all worthwhile. This KPI also tells which contact methods help the sales team perform better.
Lead conversion rate
This KPI refers to the percentage of qualified leads that result in actual sales. So, the lead conversion rate tells us how many of the qualified leads turned into customers. This metric is. Thus, critical for determining the performance of the company’s sales funnel. A good lead conversion rate would mean the sales funnel is efficient and the lead nurturing at every stage in the funnel is working as expected.
How users are engaging with the product can also be an indicator of how the product is being received. Some engagement and feature related KPIs to be tracked may be as follows.
Product usage
How often users are logging into their accounts, or at what time of the day or the week usage spikes can be quite useful indicators of product engagement as well as consumer behavior.
Feature usage
Apart from overall product usage, there may be specific features whose usage can be measured separately. Statistics can be collected on feature usage to answer certain questions. Such as, how long a user engages with a particular feature? What are the user profiles that are engaging with a certain feature more often? Are there any seasonal trends seen in the usage of a feature? These metrics help in building a feature profile that can be used for future product development activities.
All of these as well as other relevant KPIs in marketing and sales must be analyzed together to arrive at useful insights on the product performance, product positioning effectiveness and the marketing performance. The data collected needs to be carefully reviewed to decide if any changes in strategy or product design are needed in the near future to improve performance. The more data a company can collect on product performance, the more efficient the monitoring process will be. However, it is also important for the data to be relevant, correct and sufficient. The metrics that are used must be the right metrics that can lead to the right solution.
Choosing the right metrics
The right metrics can only be chosen by asking the right questions. These questions need not always be related to quantitative measurements. Qualitative feedback can also be used in conjunction with quantitative metrics to arrive at a complete picture of the problem. While quantitative metrics tell how much success the product has earned, qualitative feedback will tell why it has failed in certain regions, say. Collaboration with different people across different teams is crucial to ensure that the questions being asked take all aspects of the product and the process into consideration.
Avoiding common mistakes in data collection and analysis
Ideally, asking the right questions should bring forward the right data that can be easily reviewed to arrive at the desired answers. But the data collection process is slightly trickier than that. There are some common challenges in data collection and analysis that can be easily avoided with a little planning.
The first mistake that most companies tend to make is collecting too much information. Data should be collected just for the sake of measuring. If the data collected comprises of all things relevant and irrelevant, it becomes difficult to differentiate the data that is worthwhile from data that is superficial, giving no valuable insights.
Another common mistake in monitoring performance is collecting data that only makes the product look good but does not reflect the actual scenario. Such metrics are often called “vanity metrics”. These metrics may make the product or the positioning strategy look successful but they don’t contribute in improving the product or strategies in any way. Such metrics cannot be considered as true indicators of the product’s performance.
Consider an example where your company has developed an app for booking online consultations with physicians. A large number of people may have downloaded the app after the launch. But as long as you don’t have the usage metrics or app performance metrics, the number of downloads doesn’t tell you anything about the success or failure of the product.
Thus, vanity metrics serve no purpose except for making the product look good from afar and are not honest indicators of anything substantial and, therefore, not actionable.
Reviewing the data collected
Data collection and compiling using KPIs and qualitative feedback is only the first step in continuous monitoring. As a next step, this data needs to be properly reviewed and analyzed in order to arrive at meaningful conclusions. Reviewing the data is not the task of an individual or a single team. It needs the collaboration of and inputs from the various teams involved in the launch of the new product or service. The purpose of the review is to gauge not just the performance of the product but also the efficiencies of the various processes followed by the various teams.
Thus, some brainstorming is necessary to identify any gaps in the process and think of ways to fill up those gaps so that the position of the product in the market can be improved.
Reviews should be held frequently and on a regular, scheduled basis with some of the core members of every team. The results obtained from these review meetings must be shared with all other team members as well as department heads and company leaders. Since decision making and policy framing authority lies in the hands of the top management of a company, they must be made aware of the ongoing performance of the product. The success of a product can only be ensured when a holistic approach is adopted by the company, involving everyone in discussions and soliciting inputs from all members.
Apart from internal review meetings, another crucial step to take is scheduling meetings with users from time to time. The company can arrange for region wise user meetings as a means of gaining continuous feedback and gauge the product’s success or failure in the field. These user meetings can be very helpful as they allow for direct interaction between the company and the user, giving a clear idea of what is working with the end user and what is not. These user meetings can also help generate new ideas for products and services, as many new consumer pain points may be discovered through interaction.
Course Manual 12: Continuous Improvement
The final lap of the corporate positioning training workshop focuses on continuous improvement. With increasing competition and constantly evolving markets, a business can only survive if continuous improvement is made an integral part of its strategy. Continuous improvement is an ongoing effort to improve the business’ processes and products to keep up to market and industry standards. These improvements may sometimes be big, or they can be small changes, but what is important is that they are frequent and unrelenting. Continuous improvement measures ensure that the corporate positioning statement of the business remains pertinent and the business and its products are capable of delivering the promised value to consumers time after time.
W. Edward Deming, who was a pioneer in the field of continuous improvement processes, defined it as a part of the system in which the feedback obtained from the process and the customers are evaluated against organizational goals. The Institute of Quality Assurance defines continuous improvement as a gradual and never-ending change that is focused on increasing the efficiency of an organization to fulfill its policies and objectives. It is not limited to quality initiatives alone but the continual improvement of business strategies, results, as well as customer, employee and supplier relationships. The Institute of Quality Assurance simply describes continuous improvement as “getting better all the time”.
Why continuous improvement is essential
It is impossible for businesses to rest in their status quo, particularly in this age of cut-throat competition in every industry. Customer loyalty is still prevalent and does work to get repeating business but to build customer loyalty as well, it is important to assure customers that business will continue to deliver. Customers have hundreds of other options today, not just in the market you are competing in but in other markets as well. Thanks to the emergence of a global marketplace, where consumers have access to products from all over the world.
Consumers have access to information and are more aware of changing trends and shifts in the market than ever before. Moreover, technologies are constantly evolving and improving. Companies that upgrade their products and services to incorporate these technological advancements have a better chance at surviving and rising above the competition.
Continuous improvement also has benefits in terms of employee engagement and retention. Continuous improvement processes encourage employees to take initiative and solve the problems that affect their performance as well as the quality of the products and processes. Engaged employees also improves employee retention in the company, as employees feel empowered and their opinions are valued. This not only helps retain the talent but also saves on severance packages for the old employee, as well as recruitment, hiring and training of a new employee. Employees who contribute to the company’s continuous improvement have a stronger sense of belonging and better job satisfaction.
All of these factors make it extremely essential for all businesses to have a continuous improvement process in place. Whether these improvements are small changes in the day-to-day activities of the company or major shifts in strategy and procedures, when diligently executed these changes can transform the way a business functions.
Key elements of a continuous improvement culture
Every company that fosters a culture of continuous improvement must focus on three very important aspects.
Transparency
Transparency in the company’s goal, processes and performance is critical to continuous improvement. Every individual at all levels of the organization must be aware of the goals set by the company as well as their role in achieving those goals. Every process that takes the company or its products and services closer to the goals must be tracked transparently, so that everyone from the frontline workers to the top management has clear visibility of what is working and what needs to be improved.
As an example, say a surgical instruments company is receiving customer complaints about rusting of surgical tools in the recently delivered consignments. The reason behind this malfunction could be many. The vendor supplying materials for the tools could be sending low quality materials, there could be something wrong with the manufacturing process undertaken, the problem could arise due to improper storage in the manufacturing plant, or something else. Each of these possible reasons falls in the purview of people working at different levels. While vendor contracts are finalized by the management and the purchasing team, manufacturing processes are monitored by another team and so on. Unless there is transparency in the different processes within the business and proper communication of consumer feedback to all concerned departments, it will be near impossible to detect the flaw and correct it.
Therefore, it becomes increasingly important for a business to have a method in place for communicating the performance metrics and feedback to employees at all levels, such that they can be easily understood by all and suggestions for improvement can be received from all departments.
Knowledge sharing
Another important and integral part of a continuous improvement culture is the attention given to knowledge sharing. For business processes to evolve and improve, knowledge sharing across different levels and different departments is imperative. This ensures that the best practices adopted by the company can be scalable and every member of every team is educated about these best practices, making implementation much easier.
Knowledge sharing within the organization can be further improved by building some cross-functional teams to address certain problems from time to time. The expertise and skills of each member of such teams gives a better perspective of the problem and every member gets to learn something from the other. The teams can work together to promote both formal and informal knowledge sharing, which encourages them to explore every idea and every possible solution. Additional expertise, if required, can also be added to the team moving forward.
Other methods of knowledge sharing can also be adopted, which may involve mentoring, storytelling where an individual can share a story about a past experience and what they learnt from it, talks from industry experts, interaction among different teams at off-site events and more.
Employee involvement
Both transparency and knowledge sharing cannot be put to much use unless there is involvement of the employees at different levels within the company. Building the morale of employees, particularly the frontline workers, is crucial to developing a culture of continuous improvement. Frontline workers work closest to the product or process, be it in manufacturing, marketing, sales or any other operation. These are the people who have the best view of the practical scenario that is usually not visible to people in managerial positions.
Thus, capturing the perspective of all employees and involving them in decision making is very important for continuous improvement. It may not be possible to hand over the authority to make changes to the frontline employees but taking their inputs and working on those inputs pays both in terms of better employee morale and better company culture.
Methods adopted for continuous improvement
Continuous improvement may sound like an easy task since all it needs is monitoring of the company’s and its products’ performance and taking steps to improve the same. But with so many different teams involved, each performing a different function, neither monitoring nor implementation of continuous improvement measures is easy.
To make things easier for organizations, there are numerous continuous improvement tools that can be very useful. Certain leading organizations such as Toyota have devised methods for improving outcomes and increasing customer satisfaction, which are also applicable to other organizations to scale.
According to the Harvard Business Review, many organizations in healthcare have seen impressive gains in terms of improved outcomes and patient satisfaction by applying the Toyota Production System (TPS) to their companies. TPS helped these organizations redesign their clinical and administrative processes to lower costs, eliminate waste and improve quality.
Here are some of the tried and tested continuous improvement methods/ tools that companies can use to streamline the process.
Kaizen
Kaizen is a Japanese word meaning “change for the better”, where “kai” translates to “change” and “zen” translates to “good” or “improvement”. This method was first used by Japanese businessmen during and after World War 2 and was later made famous by Masaaki Imai’s book titled Kaizen: The Key to Japan’s Competitive Success, in 1986. The concept of kaizen aims at making the work environment in an organization more efficient and effective by improving everyday procedure, building a team spirit, increasing employee engagement and making a job less tiring, more fulfilling and safer. The Toyota Production System mentioned above esteems kaizen as one of its core values. The practice of kaizen involves making a number of different small changes to the organization’s culture. This could be in quality control, standardized practices, just-in-time delivery, elimination of waste and use of efficient equipment. Kaizen emphasizes that continuous improvement comes from small, incremental steps taken every day rather than giant leaps and radical changes in company policies or procedures. This philosophy also encourages improvements coming from any employee at any time. It reinforces the fact that everyone working in the company has a stake in the company’s success and so everyone should contribute towards making the business model better. There are numerous benefits of adopting the kaizen concept apart from the continuous improvement. As ideas for improvement come from employees themselves, they are usually easier to implement at the ground level. Moreover, as the changes required are small but continual, they are less likely to require a major investment as compared to some radical process changes. Kaizen also helps to motivate workers and encourages them to take ownership of their work, as their suggestions and inputs are valued and implemented.
PDCA Cycle
One of the most popular continuous improvement tools used by organizations worldwide is the “Plan Do Check Act” Cycle, also known as the PDCA cycle. It is a four-step model, often represented as a cycle, that must be repeated over and over again in an organization for continuous improvement.
• Plan
In the first step of the cycle, a plan for improvement must be created. This involves understanding and defining the problem, identifying the opportunity available, brainstorming for ideas and mapping out the possible solutions or changes for every team member to see.
• Do
This is the next step, that is the time for some initial action. Once the possible solutions are in sight, the plan needs to be implemented. This should initially be done on a smaller scale to allow for testing of the solution before a full-scale change is carried out. Implementing the solution on a small scale in the first stage will ensure that it is effective, without causing any major disruptions.
• Check
In this step, the results obtained from implementation are compared to the expected outcomes that were outlined in the planning phase. If the results fulfill the expected outcomes, the next step can be taken. If the results do not give the desired outcome, then we go back to the first step and repeat the entire process again.
• Act
If the desired outcome was obtained, the solution is ready to be implemented on a larger scale. However, the PDCA cycle does not end with the implementation of just one change. Whenever any opportunity for improvement arises within the organization, the cycle must be repeated.
Just-in-Time
Just-in-time (JIT) inventory strategy is a key tool within kaizen that helps organizations implement continuous improvement by eliminating waste and improving the efficiency of processes. In JIT inventory strategy, the excess storage in inventory is reduced by synchronizing the delivery of materials from suppliers to the production schedule within the company. That is, materials reach a work desk just in time for production. This helps reduce costs as the manufacturers do not have to pay inventory carrying costs. It reduces waste as no excess inventory is stored, in case an order is delayed or cancelled. It also allows for optimum utilization of space as there is no need for inventory storage. This strategy was also popularized by the Toyota Production System. JIT inventory uses a tool known as Kanban. Kanban is a scheduling system and a method to achieve JIT manufacturing. The system uses a Kanban card as the key component that is used to signal the requirement for material in the production line. The Kanban acts as a message that says that material, parts, products or inventory are depleting at a particular workstation and a movement of material is required to keep the production process running. Thus, the production process becomes a lean, demand-driven process with minimum waste and low inventory storage. Say your company manufactures disposable syringes. Assuming the syringe and the piston are manufactured separately and assembled at another desk, we can try and understand how the JIT inventory system would work in this context. The assembly desk gets a fixed number of syringes and pistons. No new consignments of parts will be sent unless asked. After assembling a major portion of the products, when the person at the desk sees that the parts are depleting which would cause the production line to come to a halt if all parts are used up, he or she sends the Kanban card to the previous workstation that is manufacturing the parts. The manufacturing station, on receiving the Kanban card will send another fresh consignment along with the card.
The same process is being followed by the manufacturing division too where raw materials are received only when the current stock is seen to be depleting. So, none of the processes store excess inventory and none of the processes come to a halt due to materials being exhausted, as there is easy communication using the Kanban cards.
Six Sigma
Six Sigma is a quality control method that was developed by Motorola in 1986. It is a set of tools and techniques that can help in process improvement. Six Sigma aims to limit the number of defects or mistakes in a business process by identifying and eliminating the causes of the defects. This method emphasizes on improving cycle time while simultaneously while reducing the number of manufacturing defects to no more than 3.4 occurrences for every million units or events. So mathematically, according to the Six Sigma principle, it requires six standard deviations from the mean for an error to occur.
Six Sigma implementation can be done using two different methodologies.
• DMAIC
This method is used for improving existing business processes. The acronym DMAIC stands for Define- Measure-Analyze-Improve-Control. These are the five steps involved in the DMAIC method.
– Defining the system, customer needs and project goals.
– Measuring the key aspects of the process in its current state by collecting relevant data and calculating the current process capability.
– Analyzing the data to draw a cause-and-effect relationship. This step must reveal the root cause of the defect, provided all factors have been taken into consideration.
– Improving and optimizing the current process on the basis of the data analysis. This can be done using any of the commonly used techniques such as design of experiments, the Japanese technique of poka yoke or mistake proofing, or standard work procedures to create a new and improved process. The process capability can be tested with the help of a few trial or pilot runs.
– Controlling the new process to ensure that any deviations from the established path can be corrected before they lead to a defect. Control systems such as statistical process control, production boards and visual workplaces can be implemented for monitoring, until the desired quality level is attained.
• DMADV
This method is used when a new product or process is to be designed. DMADV stands for Define- Measure-Analyze-Design-Verify. This method is also sometimes referred to as DFSS or Design For Six Sigma. The five steps involved in DMADV, for the development of a new product or process are the following.
– Defining the design goals based on customer demands and consistent with the enterprise strategy.
– Measuring the characteristics that are Critical To Quality, also known as CTQs. Other important factors are also measured at this stage, such as the product capabilities, process capabilities and risks involved.
– Analyzing the data to design and develop new or alternative products/processes.
– Designing the new product/process based on the results of the analysis in the previous step.
– Verifying the design by setting up test runs or pilot runs, implementing the process and handing it over to the concerned production team.
ISO standards
The International Organization for Standardization or ISO is an international body that has representatives from various national standards organizations. It is responsible for developing internationally accepted standards and specifications for products, processes, services and systems. Compliance with ISO specifications or standards is considered as a measure of the level of excellence of the particular company and its products or processes.
The purpose of international standardization, in general, is to streamline processes in different industries and markets, ensure consistent quality and safety and ease of collaboration and compatibility in the global market. ISO standards are vital to most industries including healthcare. It is particularly important for companies dealing in medical devices and diagnostics, where it is difficult to commercialize products in the global markets and services without an ISO certification. Healthcare is a high-risk sector and complying with the international standards is all the more important as consumers and markets would not take chances trusting an uncertified product or service.
For instance, if a clinical testing laboratory is ISO certified, it would mean that the laboratory follows top-rated international testing practices that are in line with global standards. It reduces the requirements for re-testing, which means customers save on cost. So, any customer looking for a reliable clinical testing lab is obviously more likely to choose an ISO certified laboratory over a non-certified one, no matter how good their services are. An ISO certification is proof enough for a consumer that the former offers world class services.
Apart from the necessity of ISO certification for the commercialization of products or services in different markets, there are also other benefits of complying with ISO standards. For instance, it makes procuring compatible parts from international suppliers easy. Adhering to ISO standards also makes it easier for companies to control their business processes better, which in turn ensures consistent performance. ISO standards influence government regulations in most countries. This makes it easier to promote and sell a product or service without any compliance issues or hassles, as they fall within government prescribed standards.
Continuous improvement driven from within the company
All of the methods of continuous improvement discussed so far point to one important fact. That is continuous improvement through quality systems and best practices are not solely reliant on data obtained from market observations or consumer interactions. It is also driven by the people and the culture within the company. Employees involved in product and process development are integral to the continuous improvement process. Their inputs are most valuable when it comes to improving processes and practices within the company as they work closely with all the relevant information and are aware of persisting issues that affect the quality of the program.
It is also evident from the most widely accepted methods of continuous improvement that long-term changes do not necessarily come from large shifts or major overhauls in product functionality or business processes. Rather small, incremental steps that bring minor developments in the way people within the company perform their day-to-day work, are more effective in facilitating sustainable changes.
Continuous improvement is not a race but an effort to build a healthy and sustainable environment that supports innovation and progress. This can only be achieved by a steady, gradual buildout of the procedures and systems. The intention of the continuous improvement process is to build a solid foundation of good quality practices that can be easily adopted by all the people involved.
Monetary investment is another important factor to consider when adopting a culture of continuous improvement. Major remodeling of the program would require huge investments, be it in terms of capital, manpower or time. However, incremental changes are easy to implement and do not require any big capital investment or resources. This allows for trial and error until the most apt solution is arrived at, without having to worry about monetary losses.
In these times of cost containment and zero waste manufacturing practices, this approach is crucial and helps in building a financially stable, steady growing company. Empowered and involved employees see this as an opportunity to make a difference and contribute to the company and the product’s success by following these continuous improvement techniques.
Workshop Exercises
Internal Assessment Exercises
01. Internal Analysis: Explain in your own words how this process will directly impact upon your department?
02. Define Issues: Explain in your own words how this process will directly impact upon your department?
03. Target Setting: Explain in your own words how this process will directly impact upon your department?
04. Gathering Data: Explain in your own words how this process will directly impact upon your department?
05. Analyze Data: Explain in your own words how this process will directly impact upon your department?
06. Preliminary Plan: Explain in your own words how this process will directly impact upon your department?
07. Review Plan: Explain in your own words how this process will directly impact upon your department?
08. Test Assumptions: Explain in your own words how this process will directly impact upon your department?
09. Issue Resolution: Explain in your own words how this process will directly impact upon your department?
10. Implement Solutions: Explain in your own words how this process will directly impact upon your department?
11. Monitor Activity: Explain in your own words how this process will directly impact upon your department?
12. Continuous Improvement: Explain in your own words how this process will directly impact upon your department?
SWOT & MOST Analysis Exercises
01. Undertake a detailed SWOT Analysis in order to identify your department’s internal strengths and weaknesses and external opportunities and threats in relation to each of the 12 Internal Assessment processes featured above. Undertake this task together with your department’s stakeholders in order to encourage collaborative evaluation.
02. Develop a detailed MOST Analysis in order to establish your department’s: Mission; Objectives; Strategies and Tasks in relation to Internal Assessment. Undertake this task together with all of your department’s stakeholders in order to encourage collaborative evaluation.
Project Studies
Project Study (Part 1) – Customer Service
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 2) – E-Business
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 3) – Finance
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 4) – Globalization
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 5) – Human Resources
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 6) – Information Technology
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 7) – Legal
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 8) – Management
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 11) – Education
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Project Study (Part 12) – Logistics
The Head of this Department is to provide a detailed report relating to the Internal Assessment process that has been implemented within their department, together with all key stakeholders, as a result of conducting this workshop, incorporating process: planning; development; implementation; management; and review. Your process should feature the following 12 parts:
01. Internal Analysis
02. Define Issues
03. Target Setting
04. Gathering Data
05. Analyze Data
06. Preliminary Plan
07. Review Plan
08. Test Assumptions
09. Issue Resolution
10. Implement Solutions
11. Monitor Activity
12. Continuous Improvement
Please include the results of the initial evaluation and assessment.
Program Benefits
Marketing
- Brand Loyalty
- Customer Retention
- Market Leader
- Program Control
- Departmental Recognition
- Brand Sustainability
- Product Strength
- Market Control
- Meaningful Data
- Market Confidence
Management
- Increased Sales
- Increased Profits
- Market Penetration
- Employee Satisfaction
- Employee Retention
- Industry Recognition
- Corporate Growth
- Expansion Opportunities
- Shareholder Confidence
- Robust Future
Production
- User Feedback
- Product Improvement
- Team Involvement
- Visibility
- Market Alignment
- Product Extension
- Lean Manufacturing
- Reduced Defects
- Improved Capacity
- Efficient Changes
Client Telephone Conference (CTC)
If you have any questions or if you would like to arrange a Client Telephone Conference (CTC) to discuss this particular Unique Consulting Service Proposition (UCSP) in more detail, please CLICK HERE.