Best Product or Service

In our previous posts, we have outlined how choosing specific and compatible components of value to deliver to chosen customers is an important first step in strategy development. Certain components of value, when combined, tend to compliment each other to form a more complete offering that will draw customers. As mentioned in the book The Discipline of Market Leaders, the authors highlight three main categories that will make it easier to choose a value proposition during the strategic planning process. We have already explored the Lowest Total Cost and Best Total Solution categories, and in the next several posts we will dig into the Best Product or Service. (The diagram shows some of the possible components of value associated with this category)