The Marketer's Handbook: Reassessing Marketing Techniques for Modern Business

FEATURES ANALYSIS

Application: Component Design for Products and Services, Value Proposition Development

The Concept

This is a method used in product and service design to plan the components of an offer. It helps marketers, designers, engineers, and production people to plan the elements of a product or service in great detail. It allows for the fact that buyers often do not know exactly what they are looking for and will explore a range of different options, with a different mix of features at different price points, when researching a purchase (whether for personal or business use). For instance, suppose a business woman wants to buy a new pair of shoes to go with a dark-coloured dress for an important, formal dinner. She is likely to have in mind a number of different attributes that her new shoes must include such as: style, colour, fit, brand, and price (represented in Figure F.2 below).

These attributes vary in nature and importance according to individual preference, occasion, and culture. For example, in this instance, the subtlety of each feature is likely to be different than for a special occasion in a social context. “Fit” might be more sensible and “style” more conservative if senior colleagues or customers will be present. Ideal “colour” though might still be a complete match with the intended outfit. Different people will describe the features differently and rank ...