Category: Analysis
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Why: We want to convince you that the most sustainable product cannot be recycled but one that lasts the longest.
Knowledge is having the right answer.
Intelligence is asking the right question.
Reading material: 5 Threats That Will Ruin Your E-Commerce Market Entry for better understanding of “5 forces in the competitive arena”
In a flash, here is how you plan your product for sustainability!
Table of Contents
In Short
The problem is that products are outdated quickly than ever. This generates, as we all see, a vast environmental situation in the world.
Here are some thoughts on making your business more sustainable both environmentally and financially.
1. Most Sustainable Product Life Cycle
The smaller the cycle, the more sustainable it gets. ‘Longer life’ or ‘Reuse’ is where we all should be aiming at! But, of course, all in a while, making the customers happy with the product.
2. Use Market Intelligence
One systematic way to achieve higher product performance and sustainability is to keep customers happy with the product for a longer time.
The ultimate objective is to understand customers better than they do themselves.
It is not possible to understand an individual better than himself in total aspect. But, for how he interacts with your product/service, this can be achieved.
More precisely, it is more and more required that you do. Become the expert in the topic and how better what is good for them.
Here is how you can structure your company profile with MI.
- Information collection
- Information evaluation
- Information interpretation
3. Intelligent questions
- What are possible market segmentation criteria?
- What are the strategic success factors for relevant market segments in comparison to possible competitors?
- What are possible features and characteristivbs when defining the portfolio of different variants?
- What are the main methods and tools for defining portfolio?
- How to evaluate neccessary variety within portfolio?
- What changes might arise in each market segmentation?
Conclusion
Know what is good for society and your business; they must go hand in hand. With market intelligence, you learn to ask the right questions to understand your customer segment even better than they do themselves.
Make your customers stay happy longer!