By Catherine Stock-Haanstra
What are the additional benefits and services that your product offers?
This is where you will find most competition for your product takes place. And this, therefore, is where you can really look to add value to your customer or client.
The idea of augmented product is giving your customer a non-physical benefit that they wouldn’t think of as part of the package; going beyond what is required or expected by your customer.
By thinking about the augmented product that you offer, you can help ensure your business stands apart from the competition. Perhaps your product is more environmentally sound, you offer an extended warranty or always give an appraisal of results. Any such augmented products can be utilised within you marketing messaging to ensure you stand apart from the competition. The most frequent comment I hear from people about Uber is that they had bottles of water in the car. What has impressed people and created talkability was not the service itself, but the unexpected bonus of a bottle of water.
By constantly reviewing your augmented product, you can help to prevent a drive to the lowest price between you and your competitors.
Catherine Stock-Haanstra is the Director of PIER Marketing.
Connect with Catherine on LinkedIn.