MULTI-DIMENSIONAL PRODUCT LEVELS: Where the sales battle is won or lost!
Your product / solution is not one-dimensional. The complex relationship selling process often makes your product elastic, meaning different things to different people in your client buying center. When you think about your product, think about the multi-dimensional product levels from basic commodity to differentiated product.
1. COMMODITY PRODUCT
This is your product at its most basic level. Without commodity-level product, you can’t show up in the market.
Example: You are selling a computer. The computer has very basic software packages included!
Product Level Check List
2. DIFFERENTIATED PRODUCT
This is where competitive product positioning begins and where the sales battle will be waged and either won or lost!
Example: The computer has advanced software packages with customizable high-level interfaces that are applicable to the client's processes.
To differentiate with high-level impact, here are four key points:
Product Level Check List
Differentiation Risks
Competitive Understanding
Risk #1 - You assume differentiation without proper knowledge of the competition. You go in with what you consider a differentiated product and the client says, ”so does everyone else”.
Client Understanding
Risk #2 - You assume that, because you think the product is differentiated, it is. Remember, the client establishes value. While you may have what you consider a differentiated product, they may not value it. Your product is only purely differentiated until it walks outside your office doors. After that it is subject to the pressures and stresses of the competitive market place. Differentiation has nothing to do with what you think, but how the market receives and evaluates your product.
Now go and differentiate!
To better understand how we approach these multi-dimensional product levels, I invite you to learn more about our Sales & Business Development program as part of the Phoenix Strategic Performance Institute. This program helps you to strategically align your sales process to accelerate the relationship sales process, creating corporate growth and building strategic value.