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Marketing: It’s about Features and Benefits right?

Features and Benefits right?

Marketing has always been a way for business to be able to look at a given market and structure a way to compete whether this is through a mix of product, prices, place, promotion. This works and works pretty well as a general guide and of course there are many examples where the 4 P’s do not give the depth or sophistication to more mature marketing strategies.

The point here though is that a part of the 4 P’s is how the product is positioned in the market with what is known as the Value Proposition. There are a couple of ways to build a Value Proposition but for me I have always looked at:

  • Segment
  • Target
  • Positioning

Then delivered a value statement which is built on these antecedents to creating a relevant Value Proposition for the receiver of the communications, be that face to face, in media or through word of mouth.

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