Meaningful Products and Product Value

Customer value is satisfaction, experienced by taking a given action relative to the cost of that action. Typically this action is taken to achieve specific goals.

In other words: Value is a percieved benefit that helps your customers to achieve their goals.

Knowing your customers’ goals and to address them with your product with an appropriate ratio between benefit to cost increases your chance for a win-win.

Think about your customers’ goals, not yours!

The primary goal of (almost) every company is:

To make money

Especially in large enterprises, it is common to break down the goals into sub-goals such as to improve quality, increase innovation, reduce downtime, increase throughput, improve OEE, etc. which replace the main goal of the overall company (make money) during day-to-day operations.

While all of these sub-goals might make sense locally, it is often preventing a company to fully achieve the primary goal on an enterprise level.

The sum of local optima is not the global optima

The knowledge about the goals, corporate culture, innovation strategies and internal politics of a customer helps to determine the appropriate price.

Every pitch, flyer, link, poster, and whitepaper must address these goals.

The definition of meaningful is something that has a purpose, that is important or that has value.

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So if a product is supposed to be meaningful, it needs to provide value,