The Big vision becomes a critical success factor if it is unifying, pervasive and fully embraced by the Organization and Teams end to end. The vision must be something that motivates and drives the Organization forward and has the acceptance and buy in from the staff, line and senior management.
Beware the fancy sounding (shrink wrapped) vision statements churned out by that high flying consultancy firm, engineered in the boardroom with the Executive team and consultant alone. I have seen this play out a dozen times over my lifetime and these vision statements remain just that – a vision that will remain inside the head of the Sr. mgt team, without the energy, enthusiasm, motivation and commitment that comes from a vision built through organization wide participation.
Believing that we have a ‘Great Product’ could be a highly subjective position to take. How do we measure the product in terms of how it compares to offerings already out there in the market place? What are the unique design factors that make it stand out? What customer segment are we are going after? What is our position versus competition in that segment? Is there any white space opportunity out there that we are trying to win?
How are we priced? What sort of independent (positive) reviews can we draw on for our product? How does our product measure up against competition in terms of Bench tests, Tech. Spec comparisons, user feedback? What is our product value proposition?
Promotion is arguably the most complex of all the three operatives listed in this thread (Vision, Product and Promotion).
As mentioned in an earlier post, it is my opinion that any successful promotion effort must be predicated on a few key factors:
a. what is the promise we can offer in terms of product or service quality – a promise we are confident we can live up to
b. Do we have access points for consumers to feel, touch, test or experience the product or service we are offering
c. Do we have a strong value proposition that differentiates our product/service offering such that the consumer buying decision is positively influenced
d. Do we have a past history of consistency and reliability – in terms of product/service performance and customer satisfaction