Unlock Market dominance with Whole Product Strategy

If you look at any of the products or services that we use today that have become totally market dominant they have become so because they have followed a Whole Product Strategy. The result is the same if you look at social media, messaging, telecom, or cars and software and tech products.

The idea of Whole Product was first coined by Theodore Levit in his book" The Marketing Imagination" which was further build on by Bill Davidow in his book "Marketing High Technology".

The concept says that there is a gap between the consumer value proposition offered to the customer based on which they buy the product with a certain set of expectations and the services being provided by the product or services that they receive. This difference in gap leads to an opportunity and is where the whole product comes in. For ease of understanding lets divide the product opportunities into various parts.

1. Generic product: This is the basic product that is being offered.
2. Expected Product: This is the product that the customer thought that they were receiving.
3. Augmented Product: This is the product, if offered and brought by the customer meets the expected product expectation that the customer had. Basically, this means that the gap between options 1 and 2 and addressed.
4. Potential Product: This is the opportunity that is available to upskill the customer to buy a higher value product considering the hidden and potential needs of the customer to ensure that the customer stays with you.

If you look at the product offerings of a car you will find multiple product offerings being offered. So, a same car model will have four or at times six different models catering to the different needs and requirements of the customers. If you look at these offerings over a period, we will also find that the offerings keep getting upgraded as per the changing market, company market share and customer needs.

The reason for this could also be dictated by the cycle in which the product is at present. For example, if it is a technology product which is based on a new technology the first set of customers would be the tech enthusiasts who always want to be associated with any new technology as they come along. They are least interested in having a whole product which eases the needs of the customer as most tech enthusiasts enjoy figuring out the issues and challenges and addressing them on their own as they come along.

Similarly, if the said product is now entering the mainstream customer market after the first two stages of addressing tech enthusiasts and visionaries are over then the entire whole product with all offerings will have to be ready as otherwise, they would not be interested in shifting from an existing product to the new offering.

The areas where organizations will also need to spend money on will also vary according to which part of the business cycle the present product is in. So, if you are a early mover into a new category it would make more sense to invest most in R&D to come out with more offerings as part of the whole product but if the market already has a few players offering similar products and almost the entire part of the whole product is ready then it makes more sense to invest in the marketing side of the product.

If you look at products which have become market dominating today, they have become so because they followed a whole product philosophy from the time that they got into the market. At times they would have been late entrants, but they overcame the same by adopting the Whole market strategy. What’s even more interesting is their product would at times have not been the best available in the market at that point in time, but they were able to establish their market dominance using this concept.

As an example, Oracle did not have the best data management product offering when the industry initially standardized around it. What Oracle offered instead was the best whole product offering that it could at that time. It offered a query language based on the IBM standard and hence ran seamlessly with all hardware platforms and pushed the product in the market with an aggressive sales force and penetration campaign.

The same was the case with Sony Betamax technology for android or even windows in operating systems or WhatsApp in messaging or Gmail in mails and in almost all segments where we see this market dominance.

In today’s fiercely competitive marketplace, success isn't just about having a great product—it's about delivering a whole product. This concept, championed by visionaries like Geoffrey Moore, extends beyond the core offering experience to encompass everything that enhances customer satisfaction and loyalty.

Imagine the excitement of buying a new gadget: it’s not just the sleek design and cutting-edge technology that captivates. It’s the seamless unboxing experience, the intuitive setup, the prompt and helpful customer support, and the vibrant community of users.

These elements collectively create a compelling narrative that transforms customers into passionate advocates. Embracing the whole product philosophy means delivering value at every touchpoint, ensuring that each interaction reinforces the brand promise. To know more about whole product experience and strategies used by successful organizations and the various steps involved subscribe to my LinkedIn page, Rejo's Business Bytes, or my website, rejofrancis.com

?