The following is the fifth in a series of posts about high tech marketing strategy based on Crossing the Chasm.
One of the most important functions of marketing isn’t viral and it isn’t advertising and no, it’s not creative slogans. Rather it’s in the fundamental 4Ps taught in every Marketing 101 class: Product.
In order to win the marketplace, you must wire the marketplace. According to Moore, “For a given target customer and a given application, create a marketplace in which your product is the only reasonable buying proposition. That starts… with targeting markets that have a compelling reason to buy your product. The next step is ensuring that you have a monopoly over fulfilling the reason to buy.”
According to Moore, “Whole product planning is the centerpiece for developing a market domination strategy.” He continues, “Winning the whole product battle means winning the war.”
In the following model, there are only two categories: (1) what’s shipped (the generic product) and (2) what else the customers need in order to achieve their compelling reason to buy. Moore calls this the “marketing promise” made to win the sale. Failure to meet this promise in a B2B marketplace has serious consequence, this isn’t fluff or mumbo jumbo but a promise that must be delivered on.