The Curious Eye

Personal opinions on a variety of things

Potential products and perennial thinking!

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Long time no see!…Well life is been a little hectic off late. Its mostly the perenially occupied mindspace that eats away my time. So I am sitting at home doing nothing but thinking and processing thoughts, jumping from one idea to another. It does sometimes makes me feel weary but it has its own pleasure. So the past few days have been into more of idea-gestation and less of real work. And let me tell you who the culprit is!

It is this small concept which I learnt in my marketing courses at my B-School. I don’t know how I remembered it because I must honestly admit that its been a year after graduation and I have already forgotten quite a lot of stuff I learnt during B-school, except ofcourse some of the powerful concepts. So one such concept is about product development. (Oh btw, a short digression from the topic – For those who would like to short-cut their way into increasing their knowledge about “marketing” without going to a B-school or running through pages and pages of Kotler’s bible then I suggest this website for you— knowthis.com. Its simple sweet, exhaustive but not tiring and very useful.)

So as a tribute to this website for saving me from endless cramming up, I would like to throw before you the concept I was talking about. So go and check out –www.knowthis.com/principles-of-marketing-tutorials/product-decisions/components-of-a-product/

Okay, okay…now let’s focus on on what I had begun without any de tour in the way…

So the concept basically (as per my understanding) is that any product is a package of offerings. So you gotta have some core offerings which are like the most raw abstract form of offerings you wish to make to your customer. Around these offerings, you have to meet some basic requirement. For example: allowing conveyance is the core offering of a car. But ensuring that you have a seating is like a basic offering, Unless you  are saying its not a car, but a segway or something. Next comes a level called “augmentation” where you augment your offerings. So you provide a service garage to your car customers along with a car. And so on and so forth

But I have kind of tweaked this whole “Total Product” theory in my own way. So here it goes:

Core Product: I want to have a car

Basic Product: I want to have a racing car

Augmented Product: I want to have a racing car that can also fly

Potential Product: I want to have an aerial, amphibian, acquatic, all-terrain car that can also teleport across time.

Well, greedy, ain’t I? Somewhat yes, but more on the imaginitive side. So a lot of things around us are products of one form of other. And they fall into either of the buckets mentioned above. Can you experiment this concept with those products? Lets say, you have a pen. Just think of it what would be an augmented or a potential version of a pen. (Well you can share it with me as a comment and then we can challenge  each others imagination…..Ok. That would be quite-nerdy! but nevermind…who cares!)

Anyway, can you  categorize the products around you as per my slightly tweaked Total Product theory? I see that so many things are only core and in some cases only basic. Leave alone potential or augmented they haven’t even taken the form they should have by now or maybe no one bothered to up it one level ever since they have been created; So it is my firm opinion that extending the offerings of a product through your imagination can lead to completely new innovative insights. And this kind of thinking is almost addictive for me. Coz I can imagine everything from my bed to my room to my fan to TV to the road I walk on, in a completely new manner, in its potentialized form. And then I realize there is so much the world hasn’t achieved yet. We are so far behind in terms of being close to the future we dream of. By the time I reach such a realization I am already overwhelmingly tired of thinking but still agape at the vision of the future. And hence, equipped with eternal hope of contributing in whatever way I can to bring home that “potential” future. Cheerio!

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Written by pghode

March 7, 2013 at 3:48 pm

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