Business Strategy Evolution: Part B

Ok, this is the second part of the evolution of business strategy. I have some thoughts but unfortunately very few spare time to write them down and post them here... This is the second part which is very short but I am already working on the third (and maybe last) part.


The Beta Products

Harsh competition forced many companies to speed the process of product development and resulted in a model where customers are also testers of the early stages of products. Beta versions are very popular and common on the internet. Furthermore beta versions apply more to services and tangible products rather than regular products (I can’t imagine Beta toothpaste!). Two are the key points when discussing the beta products: Firstly, betas mean less testing for the company thus lower investments. Lower investments lead to lower risks associated with product failure. So, we come to the second point: The collaborative model where business and customer cooperate for the interest of both (company for increased profits, customer for better experience). In that model, customers constantly give valued feedback to the company and in a way they actively participate in the product development.
So in brief, Beta products help companies be ahead of competition and lower the risk of product failure, which in normal occasions is very high (the majority of products fail either in development or at their launch).


The Experience Approach

Businesses are trying a different approach in delivering products; a holistic approach. From the core product, we have advanced to an escorting set of services as a point of differentiation. From now on, companies are starting to transform products’ & services’ consuming to “Experiences”. That is a new emerging approach that is unexploited yet. Experience means more integration of services, more customer satisfaction and a strong focus on loyalty and value for customer.