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Product-focus is an approach to business that defines strategy, operations and metrics in terms of products. This is associated with manufacturing and firms that continually improve products to stay relevant in an industry. Customer-focus is considered a more modern approach as product-focus risks marketing myopia whereby a firm is adding functions and features nobody wants while an innovator takes their customers. Nevertheless, product-focus is an extremely common approach that works for some businesses. The following are illustrative examples of product-focus.
Thinking of strategy in terms of the product. For example, strategic focus on a product roadmap. This risks marketing myopia.Product-focused firms are typically locked in a competitive battle to improve products faster than the competition. Depending on the industry, this usually means either reducing costs or packing in more advanced features into products. This focus on competition can end up neglecting customer needs allowing a more innovative competitor a path into the market.
Developing products that have unique value relative to other products in a crowded market. Cycles of operational optimization that drive down costs and improve the quality of products.Marketing that is focused on sales and demand generation. May neglect areas such as brand recognition, customer experience and customer relationships as these are associated with customer-focus.
Measuring a business in terms of the product including metrics such as product revenue and market share. It is also common for a product-focused firm to use a number of process metrics related to continuous improvement.|
| Type | | | Definition | An approach to business that defines strategy, operations and metrics in terms of products. | | Related Concepts | |
Product Marketing
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