Business
Plan - DIY - Part 5
CONVERT FEATURES INTO BENEFITS
THE "...WHICH MEANS..."
TRANSITION
FEATURES
|
"WHICH MEANS"
BENEFITS
|
|
Performance
|
Time Saved
|
|
Reputation
|
Reduced Cost
|
| Components
|
Prestige
|
| Colors
|
Bigger Savings
|
| Sizes
|
Greater Profits
|
| Exclusive
|
Greater
Convenience
|
| Uses
|
Uniform Production
|
| Applications
|
Uniform Accuracy
|
| Ruggedness
|
Continuous Output
|
| Delivery
|
Leadership
|
| Service
|
Increased Sales
|
| Price
|
Economy of Use
|
| Design
|
Ease of Use
|
| Availability
|
Reduced Inventory
|
| Installation
|
Low Operating Cost
|
| Promotion
|
Simplicity
|
| Lab Tests
|
Reduced Upkeep
|
| Terms
|
Reduced Waste
|
| Workmanship
|
Long Life
|
|
|
BUYING MOTIVES
| RATIONAL
|
EMOTIONAL
|
| Economy of Purchase
|
Pride of Appearance
|
| Economy of Use
|
Pride of Ownership
|
| Efficient Profits
|
Desire of Prestige
|
| Increased Profits
|
Desire for
Recognition
|
| Durability
|
Desire to Imitate
|
| Accurate Performance
|
Desire for Variety
|
| Labor-Saving
|
Safety
|
| Time-Saving
|
Fear
|
| Simple Construction
|
Desire to Create
|
| Simple Operation
|
Desire for Security
|
| Ease of Repair
|
Convenience
|
| Ease of Installation
|
Desire to Be Unique
|
 |
Space-Saving
Curiosity
|
Increased Production
|
Availability
|
Complete Servicing
|
Good Workmanship
|
Low Maintenance
|
Thorough Research
|
Desire to be Unique
|
Curiosity
| | | | | | | | |
_________________________________________________________________
PRICE / QUALITY MATRIX
SALES APPEALS
PRICE/
QUALITY
|
HIGH
|
MEDIUM
|
LOW
|
| HIGH
|
"Rolls Royce" Strategy
|
"We Try Harder" Strategy
|
"Best Buy" Strategy
|
| MEDIUM
|
"Out Performs" Strategy
|
"Piece of the Rock" Strategy
|
"Smart Shopper" Strategy
|
| LOW
|
"Feature Packed" Strategy
|
"Keeps on Ticking" Strategy
|
"Bargain
Hunter" Strategy
|
Next Topic: Appendix
II - FINANCIAL MANAGEMENT
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