Customer Benefits: A Brief Introduction to Why Customers Buy Your Products
Customer benefits are the key to understanding how competition effects companies. When a company segments the market by means other than how its products or services benefit its customers, it is unable to truly understand the competitive marketplace.
In this article, we introduce benefits and why they should matter to your company. We end with a quick example of how competitors move into your industry.
Let’s begin with why you need to define your market in terms of benefits.Â