Have we forgotten our marketing books?
This seems to be the era of OEMs - who are selling similar product to many 'customer-facing' sale organizations!
Just glance for any gadget at Amazon, and you will find scores of EXACTLY same products being offered from different brands. Everything's the same, except for the content!
Makes me feel all so powerful as a 'product content writer' or as a 'packaging designer', but jackass as a 'product marketer'!
While at our 'jobs' in our respective 'organizations' call for
- 'cost savings' and;
- 'the urge to continuosly introduce new products',
.... but as marketers have we completely forgotten the basics of product management?
Some of us would also argue, why go to the basics of 'studying the market', 'finding pain-points with the current offerings', 'designing with the customer in mind and around their needs and issues', - when we know that "there's a market for a category and other brands are successfully doing it!".
".... so why shouldnt we also launch it? worst case, it will only bring less profits, but there's no sunk costs - we can get it from any of the three OEMs we know, and our agency will create a distinctive packaging, and do a trial on eCommerce marketplace to start with"
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This is the sad truth of product innovations in our country today.
I wish we could do it the traditional way - data-driven market study; consumer pain-points; define the competitive advantage of the product; design; communication designing - basis the key distinctives in terms of solving a/any particular pain-points; test-market; rejig; launch
Lots of efforts though!
More so, we seem to not even think about doing this 2 years from now! This is the new norm of innovation! Launching almost similar products with new packaging!
What do you stand to gain with all the effort in doing it the traditional way?
- a product that will be distinct, a product that will stand out on deliverables; much better margins; ability to sell at a premium; or even a ability to be very competitive price and make a killing in terms of units, etc
'Product' is everything, and so is the brand! Think about it, introspect!
Dont just 'source', this methodology will soon become MORE PAINFUL
Talk to me, if you need help!