Review Options to Add Value
In the course of studying many thousands of product and service innovations, we have concluded that the vast majority of these innovations fall into one of three generic tactics. These three generic tactics add value to the customer and reduce the customer's cost related to the product.
Reduce resources required
Add knowledge. Increase the customer's knowledge and understanding about the company, its products, the relative benefits of the products, and the processes where the products are used. This tactic encompasses the company's efforts to make the customer aware of the company and its solution, to differentiate the company's solution from that of the competition and to increase the customer's understanding about the ideal use of the product. More >>
Reduce resources required. Reduce the resources required for use of the product. These innovations reduce the customer's cost of using the product by reducing either the product's price or the other costs incurred with the product. These tactics may also build the customer's revenues and perform some of the functions of other products. More >>
Improve experience. Enhance the experience the customer has in using the product. These innovations add sensory or emotional appeal to the product. More >>