Beyond Features: A Journey into Product Planning Mastery with Wit and Wisdom
Exploring Rational and Emotional Values with the Consumer Benefits Ladder
Hiking up prices — not the coolest move, right? It’s like playing with fire, risking a customer's disappearing act. But hey, if a brand can tap into the mysterious world of consumer minds, there’s a whole bag of tricks to pull out when explaining why those numbers on the price tag are doing the cha-cha. Otherwise, that price hike might just throw a wild party and ruin the brand’s performance.
How do consumers make life-altering decisions?
We’ve got the essential shoppers, the life-upgraders, the vibe enthusiasts, and the folks treating purchases like a religious experience.
Imagine buying stuff just to survive — that’s what we call “essential consumption,” your everyday must-haves.
People adjust their whole existence based on what different brands bring to the party. Jack up the prices and consumers might start eyeing the exit, ready to mingle with rival products and maybe downsize their spending shenanigans.
Essential goods are usually a family affair, considering everyone’s well-being. So, even if a brand decides to throw a price-hike party because of fancy increased costs, it can sweeten the deal by guaranteeing top-notch quality and adding in some group benefits to make folks less cranky about the price tag. Picture this: every purchase chips in a fixed chunk for a good cause, spreading the love beyond the buyer. It’s like buying your favorite snack and knowing you’re also helping save the pandas — double win!
Consumer Benefits Ladder
Alright, buckle up for the journey through the 4 types of consumer benefits — Emotional Benefits, Functional Benefits, Product Features, and Product Availability. It is a magical land of product planning, where we’ve aced the analysis, cooked up some killer product features, and predicted the mind-blowing rational and emotional values. These four steps are the rockstars of product planning, dancing to the beat of the Consumer Benefits Ladder tool. [1]
Takes a deep dive into the rational and emotional wonders our product brings to the table. Picture this: “accessible music at your fingertips” and a delightful dose of “superiority” vibes. Yep, we’re not just making a product; we’re crafting an experience!
Giving it that elusive vibe of being exclusive
Now, let’s talk about making a product stand out. This move messes with the idea of getting the most bang for your buck, and it’s like turning the consumer experience into a fancy night out. If what you’re buying kicks your current living situation up a notch, it falls into the “life upgrade” game — think cars, insurance, financial wizardry, home facelifts, and whatnot. When people are in this buying mode, they turn into info-hungry investigators, dissecting every detail to see if they’re getting a good deal, what some like to call “value for money.”
So, if your thing falls into this category, you can shake things up and make it all about the feels, tossing aside the usual focus on how much it costs. Take a car, for example — it’s not just a ride; it’s a personal contribution to saving the planet or a guardian angel for your family’s well-being. It’s like upgrading your life with a side of superhero vibes!
Let’s talk about another trick
Creating scarcity, the feeling that everyone’s scrambling for the last piece of the pie, making it the hottest thing in town. Like the NFT craze — it was like a digital gold rush, fueled by the thrill of outdoing others. Limited editions and quick sellouts? Totally fall into this cool category.
It's time to shine a spotlight on your product’s superpowers, building up that “I gotta have it” vibe. “Lifestyle enjoyment” stuff is all about adding some pizzazz to life, and it won’t break the bank. To kick this kind of spending into high gear, appeal to the “amplification” — let consumers feel like they’re getting a crazy good deal, like hitting the jackpot with a lucky bag or treating themselves to stress-busting goodies without the guilt. It’s like saying, “Hey, it’s an investment in my sanity — totally worth it!”
Now, let’s dive into the VIP club of “belief-driven” spending — the high rollers who drop cash on luxury goods, gadgets, and fancy stuff. No guarantees on the return, right? So, they turn to brand vibes, celeb endorsements, and online street cred for the final verdict.
Brands can spill the beans from the second-hand market, revealing that your product isn’t just holding its own; it’s a future treasure. This invisible value becomes a hot ticket when wallets are feeling a bit shy, sparking that gotta-buy-it urge.
And don’t forget the power of ads — the magic wand that makes consumers feel the real deal. The ads speak to the soul, making you believe you will experience what the ads are presenting.
So, when plotting those pricing masterplans, marketing maestros need to play the superhero card, reinforcing why their product is the unbeatable champ in consumers’ hearts. Or else, boom! Prices go up, and consumers might swipe right on another brand or tighten their spending belts, turning that price tweak into a performance showdown.
Reference:
[1] M. Bridges, Consumer Benefits Ladder (2021), Strategy, Marketing, & Sales
