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· Based on the industry standards and core competencies, and your SWOT analysis, define the set of FEATURES you want for your products/services to better satisfy the needs of the customers (again by segment - targeting the most profitable segments first).
· Make a metrics of features in rows versus customer needs across the top - with benefits listed for each feature in the last column.
· Add other column for VALUE PROPOSITION. Quantify the benefit for each feature into dollars or time save for the customers (dollars are more powerful).
à In terms of the products and services, what are the needs of the market place – quality, reliability, price, delivery, support, features, and bundles and solutions?
à What are the minimum needs and requirements?
à What offerings would cause the customers to change their buying decision?
à What do the ideal products and services look like?
à What are the products, services, and/or solutions offered by the company?
à What are the features (strong selling points), benefits (advantages the customer derives from the features), value proposition (the dollar value of the benefits)?
à At what stage in the product life cycle are the products of the company and the competitors?
· Develop UNIQUE SELLING POINTS (USP's) based on the features, benefits, and value proposition.
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