Management and Strategy

Most profitable strategies are based on differentiation. If we look at Customers entire experience with a product or service what is called a consumption chain, it may uncover unforeseen opportunities. Following are steps that can be followed…

1. Mapping the consumption chain.
   1. How do people become aware of their need for your product or service?
   2. How do consumers find your offering?
   3. How do consumers make their final selections?
   4. How do customers order and purchase your product or service?
   5. How is your product or service delivered?
   6. How is your product installed?
   7. How is your product or service paid for?
   8. How is your product stored?
   9. How is your product moved around?
   10. What is the customer really using your product for?
   11. What do customers need help with when they use your product?
   12. What about returns and exchanges?
   13. How is your product repaired or serviced?
   14. What happens when you product is disposed of or no longer used?
2. Analyzing your customer’s Experience
   1. What are customers doing at each point in consumption chain?
   2. Where are customers when they are at this point in consumption chain?
   3. Who else is with the customer at that point?
   4. When (day, date, time) is customer at that point in consumption chain?
   5. How are Customer’s needs being addresses?

Just answer these questions and you will have clear idea of where the company should be focusing on for future product improvements.

Source: Discovering New Points of Differentiation (HBR: 97408)