How to Identify Your Idea’s Key Benefits
Identifying the key benefits of the planned product and service is central to all marketing and PR activities. The analysis will include comparing currently scheduled benefits to those which are essential to potential customers. The aim is to have a product consumers will buy/adopt. Identifying differences between projected benefits and desired benefits will inform both marketing strategy and product development. Some of the questions we are looking to answer are:
- Are this product and service going to satisfy a market need?
- What challenges do people face in using existing products/services, and what requirements are not being met?
- To what extent are users of current products satisfied with these products/services and their suppliers? (This will identify any gaps in the market.)
- What benefits and characteristics are significant to potential customers?
- Is there already a demand for it?
- Can the product’s/service’s key differentiators and advantages be easily articulated?
- How different is your product and service from what is being offered by the competition?
- Does the planned branding suit the product and service?
The product and service characteristics, benefits, packaging type, brand and aesthetics, product image, and the final product proposition to be presented to the customer will be identified and integrated into the complete product and service description for the marketing plan. The services provided for the customer also need to be placed, such as delivery methods, packaging, and technical help.