Your product positioning is at risk in a fast-paced market. How can you ensure it stays relevant?

Keep in mind that high level market data is great for initial market sizing. However if you want to stay relevant OR better yet win with your product - you will need to conduct more personal research, specifically observational voice of the customer exercises. This is important because then you can uncover latent needs not yet addressed and stay ahead by beating competition to delivering solutions to those needs.

Continuously analyze your target audience’s needs, preferences, and pain points. Adapt your positioning to align with their evolving expectation

Para manera productos de manera efectiva se debe ser objetivo y realista, soy de los que prefiero la verdad aunque duela. Cuando sabemos la opinión real sobre nuestras marcas por parte de los consumidores podemos tomar todas acciones correctivas necesarias. Hace muchos años conocí un directivo que insistía que su marca seguía siendo el líder indiscutible, sin embargo la data lo daba como un segundo lejano lugar el cual había perdido el 50% de su marketshare.

Prendre le temps d'analyser le marché, de comprendre son fonctionnement à l'instant T mais aussi de réfléchir à ses évolutions possibles est indispensable pour penser sa stratégie à court, moyen, long terme. Etre à l'écoute de ses clients est certainement l'une des meilleures opportunités de faire évoluer son offre et de l'adapter toujours plus aux besoins et aux attentes. Intégrer les clients dans ces évolutions, les faire participer me semble être d'ailleurs une excellente idée car un sentiment d'appartenance et un lien se créé. Ce qui n'empêche d'étudier, surveiller, analyser de près la concurrence, qui fait partie intégrante du marché.

Be where the action is ! Use human intelligence (foot soldiers) over AI, data analytics, statistics ( pure and lies….); keep in touch with the last mile connecting- stations / outlets; be sensitive to their needs as well as to your Company’s; keep the Delivery partners / channel associates / last mile outlets free to be able to give you the timely feedbacks; make all the “Nodes” : ie the connecting hubs in sync with the policies and systems.

A pesar de que en mi ciudad acostumbro a no usar el trasporte público con frecuencia, de vez en cuando disfruto mucho hacerlo. En esos momentos me convierto en un mistery shopper en donde puedo tener el contacto directo con la opinión de los consumidores sobre mis marcas y competidores. Te invito a intentarlo la próxima vez que uses el transporte público.

I learned long ago that this is not about building a feature matrix to match functionality. Instead it is critical to understand your customer has a choice. Know what choosing the competitor will deliver is an important baseline. Sometimes that customer choice can even be to do nothing. These choices are considered the next best alternative (NBA) to your solution. You should understand the value of the NBA and what value your solution offers above the NBA. This also feeds into how you build proper pricing.

Impossible de se différencier des autres si on ne sait pas ce qu'ils proposent. Il est important d'analyser précisément et dans sa globalité l'offre concurrente : prix, canal de distribution, Produits et services, Stratégie de communication, Push Marketing, etc... Un seul élément n'est pas suffisent pour tirer les bonnes conclusions. Il est également, à mon sens, essentiel de rester humble face à la concurrence, de rester aligné sur sa stratégie et de garder le cap.

Reviews are going to be one of the easiest ways to understand your customers feedback. Analysing key issues that crop up in reviews will help you understand whether you need to provide more information to the customer, make things clearer in your packaging, or if your product needs adjustments made to better serve their needs.

Gather and act on customer feedback using surveys, reviews, and social media. This helps you understand their needs and preferences, ensuring your product remains relevant.

On m'a souvent dit tout au long de ma carrière que l'information est chez le client. C'est on ne peut plus vrai. Le client sait pourquoi il vient chez vous et pas ailleurs, et inversement. Il sait ce qu'il souhaite et ce qu'il ne souhaite pas. Il connaît son fonctionnement interne, les process qu'il doit suivre, les attentes de ses différents services. Lorsqu'on souhaite améliorer sa proposition de valeur, le meilleur des prescripteurs est le client car il sait ce qu'il faut améliorer pour que celle-ci soit meilleure demain. Et s'il a déjà eu une expérience d'achat, positive ou négative, il saura dire ce qui lui a manqué. Une expérience négative (toute proportion gardée) apportera d'ailleurs certainement un feedback plus approfondi.

Ship fast & often is the motto in the tech industry. Everyday new products are being churned out and it can be challenging to stay competitive. Product positioning should be agile enough to be flexible with the market & your competitors. That's why focusing on storytelling as a framework for setting up your positioning and messaging can be useful. Stories evolve and so should your positioning.

Being agile with your approach to the market and how you position the product is essential to staying relevant. My favorite method for staying agile is to utilize a scenario analysis. Consider several possible future states and develop contingency plans for making the proper adjustments. This is best done by identifying a couple KPIs that will alert you of changes in the market. You want to make sure you have time to adjust the product position proactively. So, make sure you use a leading indicator. Another useful tool is premortem. Image your product has failed and come up with reasons why. These reasons can serve as a basis for your scenario analysis. If done correctly, you position doesn't need to be redone. It will naturally evolve.

Have you ever considered that your value proposition might be speaking to the wrong part of your customers' brains? By tapping into the underlying feelings driving customer decisions, not just their rational needs, we can create a far more compelling narrative. I've also seen remarkable success with products that prioritize complete transparency about their product's limitations. Customers often appreciate and trust a company that's upfront about what it can't do, just as much as what it can. By combining these approaches – addressing emotional drivers and embracing transparency – we can create a value proposition that's not only relevant but refreshingly honest in a market full of exaggerated claims.

This is one of my favorite things about Product Management. IF we based our requirements on quantified needs, ranked and weighted up front. AND we clearly defined for engineering the "jobs" needed to be done for the customer and the value of delivering on those - then it is as simple as looping back up to the top and basing the value proposition off the needs we heard from the customers in the early phases. It should already be written and baked into the product!

Constant innovation is crucial because it allows your product to evolve in response to changing market dynamics and customer preferences. Innovation fosters differentiation, making your product stand out amidst commoditization. Moreover, innovation signals to customers that you are invested in their needs, building loyalty and trust. In a fast-paced market, where trends shift rapidly, ongoing innovation ensures your product remains relevant and sought after, securing long-term success. Good companies to look at for this is Microsoft and Tesla.

Innovation should be central to your strategy to stay relevant. It doesn't always require high-tech breakthroughs; it can be as simple as updating your product's design, adding new features, or enhancing the customer experience. These innovations keep your product fresh and exciting for customers, essential for maintaining a strong market position in a fast-paced environment. Continuously evolving ensures you meet customer needs and stay ahead of competitors.