By identifying critical features, the project team can exclude product features that do not add significant value from a customer perspective. Elimination of features reduces project complexity, accelerates development, and gets products to market more quickly.
B2B companies often develop and promote products without understanding if they solve problems that are important to customers — which are the problems customers are most willing to pay to have solved. A survey of industrial marketing managers revealed that the ability to segment markets, identify unmet market needs, and develop strong value propositions were among their top concerns.
Industrial Market Insight begins with identifying customer needs that are significant and unsatisfied to insure that a new product or service will deliver value the customer is willing to pay for.
