20601016 Entry#-9 - Is your great idea real business?

original article


How to succeed in business market

(Alalysis by ACCORDs)

1. Do you have advantages?(Value Proposition)
- To be successful in the business market, company should have their own strength which is called value proposition. Value proposition is one of great means to attract customers to buy their products. For example, in case of “NIKE” a special motto “JUST DO IT”&”Using one of greatest basketball player Michael Jordan as their model” can be a great value proposition. It motivates customers to enjoy sports and then naturally it makes them to buy NIKE products to play sports well like Michael Jordan.

2. Is it simple and easy to use?(Complexity)
- The main purpose of product might be how it functions well. Also how it is made for customers to use it handy is important as much as it. When people make product, they should consider complexity and user-friendly. Steven Jobs “MAC” is one of the companies which pursued those things. It made customers to feel comfortable by a sound effect when we turn on the computer. Also, it is the first company which started to use MOUSE which is prevailed to all over the world.(convenience)

3. How it is well adapted to cultures and life styles?(Compatibility)
- Social structures, cultures, traditions are different among each country. Therefore, if people want to make a product to be permeated to other country or circumstances, they should make their products by considering those cases. Let’s think about why microwave industry is not popular in France while it is a big hit in the US,(Because of their slow pattern life style)

4. Research customers behavior and needs(Observability)
- There is saying that if we know ourselves and enemy we will win 100 of battles of 100. Like this, to succeed in the business world, we should know customers well. Business people should listen to customer’s “sense, seeing, touch, hearing, and emotional variation” Car companies’ focused on car door and appearance of engine is one of a good example of this. Car sellers do that because they have found that most customers are so much care about those things.

5. How much risk do you take?(Risk)
- I’d like to define doing business as a risk game. To get something from business market, we should take loss(investment). That way we can obtain a lot bigger thing. There is acronym that represents risks that we should take “FUD=Fear, Uncertainty, Doubt”. When Hyundai’s market share was not good they took risk saying “If car breaks down within 10years, we warranty it.” This is a awesome example of taking risk





6. Do you offer sampling and trial to customers?(Divisibility)
- Before buy products, customers might want to know the products if it fits well or has no defects on the products etc. Therefore satisfying these customer’s needs is rising as a new trend of business market. Giving opportunity for customers to experience in person is very important when we do business. In case of cosmetic company, they let people to apply their products if it fits them well or looks good after they apply it. It’s a good system to get customers mind.


Reference:
http://www.edn.com/index.asp?layout=roadblock&sid=280464759&target=index%2Easp%3Flayout%3DCommunity%26industryid%3D47048%26industry%3DBusiness%2BStrategy
http://www.strategy-business.com/
Lecture from 8 APL 08 Class (ACCORDs)