The Right Tool for the Right Job

May 28 2013 Published by neilgains under design

One of the most famous quotes in marketing, and one that a friend of mine is very fond of repeating, is Ted (Theodore) Levitt’s comment that “People don’t want a quarter-inch drill – they want a quarter-inch hole.” Despite this good advice, marketers, researchers, designers and innovators continue to focus on the drill to understand customer behaviour and develop new product ideas. Clayton Christensen writes that, “Every marketer we know agrees with Levitt’s insight. Yet these same people segment their markets by type of drill and by price point; they measure market share of drills, not holes; and they benchmark the features and functions of their drill, not their hole, against those of rivals. They then set to work offering more features and functions in the belief that these will translate into better pricing and market share. When marketers do this, they often solve the wrong problems, improving their products in ways that are irrelevant to customer needs.”

Read more »

No responses yet