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The Relationship Alliance |
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… putting strategy & relationships before marketing disciplines |
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Comparative Product Evaluation … Some of the challenges facing so many businesses in today’s fast moving and highly competitive market place are ... “How does your product compare to the competition?” “What do your stakeholders really think of what you want to sell them, is it what they want to buy?” “What’s important to who and why?” At The Relationship Alliance we have recognised different stakeholders evaluate products from different perspectives, and different product features have different values for each stakeholder. For example, for a credit card the internal marketing team may think the rewards/loyalty programme is weak but the potential card users think it is strong. On the other hand internally the view may be the internet banking access is excellent while the card holder finds it confusing and difficult to use. To assist us and our clients we have developed The Comparative Product Evaluation © technique. This enables us to look at the key features of a product from different perspectives and consider how they are impacting the organisation's relationships with the different stakeholders. |
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The diagram above is an example of how we looked at a credit card product for a financial services company from an internal and an external perspective. You can see in some instances the evaluation is quite different and would cause different decisions to be made bout product development. Product values and product differentiation are a key element of creating and building stronger relationships with stakeholders and so form an essential component of the integrated relationship marketing mix. That is why Relationship Alliance has created the Comparative Product Evaluation © model to clearly understand what features each stakeholders believes most influences their relationship with the organisation. |
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The Relationship Alliance |