Copyright July 2008 John R. Castle Benefits vs Features1... are not product Features Customer Needs...

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Presentation transcript:

Copyright July 2008 John R. Castle Benefits vs Features1... are not product Features Customer Needs...

Copyright July 2008 John R. Castle Benefits vs Features2 Product Features (what you do) result in: Benefits (what the customer gets) which satisfy: Needs (the reason the benefits are appreciated)

Copyright July 2008 John R. Castle Benefits vs Features3 Maslow’s Heirarchy of Needs 5. Self Actualization/Fulfillment 4. Esteem/Ego/Self-respect 3. Social/Love/Belonging 2. Security/Safety 1. Biological/Physiological

Copyright July 2008 John R. Castle Benefits vs Features4 Typical Ideal Customer Objective, rational, measurable traits and preferences Subjective, emotional, personal reasons for choosing

Copyright July 2008 John R. Castle Benefits vs Features5 Bill, the Entrepreneur Gourmet Pizza Restaurant Worked in a popular gourmet pizza chain Talked to lots of customers every night Easy to gather a lot of data from exactly the people he wanted to attract to his restaurant.

Copyright July 2008 John R. Castle Benefits vs Features6 Gourmet pizza restaurant customer Description of the customer Like dining out with my family suit my families needs best my children's taste buds aren't very developed my wife is the most finicky eater on the planet. don't want to feed my family junk food married, have two children average salary for a college educated American work very hard for my money value the power of the dollar enjoy receiving promotional coupons

Copyright July 2008 John R. Castle Benefits vs Features7 Gourmet pizza restaurant customer Personal features and values …like dining out with my family …suit my families needs best my children's taste buds aren't very developed my wife is the most finicky eater on the planet. …don't want to feed my family junk food married, have two children average salary for a college educated American work very hard for my money values the power of the dollar enjoy receiving promotional coupons

Copyright July 2008 John R. Castle Benefits vs Features8 Gourmet pizza restaurant customer Reasons for choosing a restaurant Parking is a pain in the neck I can't stand poor service Quick service - kids get rowdy - pay the bill and go relaxing atmosphere other families and children around. enjoy lively and upbeat music After deciding what type of food we want… Price and value are number one priorities I will spend a little extra for quality food

Copyright July 2008 John R. Castle Benefits vs Features9 Gourmet pizza restaurant customer How they decide on a restaurant Parking is a pain in the neck I can't stand poor service relaxing atmosphere other families and children around. Quick service - kids get rowdy - pay the bill and go enjoy lively and upbeat music I have a set of criteria I use when I dine out Price and value are number one priorities I will spend a little extra for quality food

Copyright July 2008 John R. Castle Benefits vs Features10 In order of importance: Value Price Promotions Quality Menu selection Service Parking availability Ambiance WHAT THEY SAY HOW THEY DECIDE

Copyright July 2008 John R. Castle Benefits vs Features11 Selling to a Business Needs of the Company Increase revenue and profit Decrease expenses Save time Reduce waste Improve communications

Copyright July 2008 John R. Castle Benefits vs Features12 Selling to a Business Personal Needs of the buyers Respect of coworkers Status in company Promotion Easier work More interesting job Learn new skills

Copyright July 2008 John R. Castle Benefits vs Features13 Understand the needs of the individuals What’s in it for them? –Money –A promotion –More leisure time –Envy –Good will It’s the emotional pull

Copyright July 2008 John R. Castle Benefits vs Features14 Product Features (what you do) result in: Benefits (what the customer gets) which satisfy: Needs (the reason the benefits are appreciated)

Copyright July 2008 John R. Castle Benefits vs Features15 Features, not Benefits iPOD – music downloads Blackberry – mobile IM and Texting – write to friends now MySpace – finding about people

Copyright July 2008 John R. Castle Benefits vs Features16 Benefits, not Features iPOD – music, pictures that I chose Blackberry – mail from people I care about IM and Texting – messages to ME MySpace – telling people about ME

Copyright July 2008 John R. Castle Benefits vs Features17 Product Features (what you do) result in: Benefits (what the customer gets) which satisfy: Needs (the reason the benefits are appreciated)

Copyright July 2008 John R. Castle Benefits vs Features18 Now tell us in one sentence : “What does your company do?