Information, HyperDifferentiation, and Resonance Marketing
Perfectly informed consumers pay less for commodities, since search and comparison are easy and competition reduces the prices of interchangeable products to their production costs. However, hyperdifferentiated products have no direct competitors, and if these products resonate with consumers then their willingness to pay for these products is determined by the value the place on them rather than by the price of competitors’ offerings. While this degree of hyperdifferentiation may appear to be an unreachable goal, information helps producers determine what consumers want and what desires are currently unmet, as importantly, it allows producers to communicate their precise value proposition easily and
accurately.
At this presentation you will learn:
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Why information availability destroys the pricing power of commodity products and services, destroying margins
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Why information availability increases consumers awareness of and willingness to pay for sufficiently differentiated goods and services
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How information availability can guide your
decisions about what products and services to offer
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How to use the information you already have on your current customer base to gain an advantage relative to competitors and potential new entrants
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