Preferred Product Definition

What is a ‘Product’?

11/6/2020

Grant Hunter

Our Topic of the Week panel took on the broad question “What is a ‘product’?” in this weeks conversation. This clip is from our conversation on the Wednesday poll on “What’s your preferred approach for what products address?”

Market Problems was the winner in the poll, perhaps due to the large number of Pragmatic Marketing students and followers of Steve Johnson. I voted for “Under/Un-met Needs and Wants” in a homage to my Drucker, and with some influence from Rob Goldberg’s Monday answer.

Rob shared his thoughts on Jobs to be Done (JTBD) which led to a discussion of JTBD for activity versus JTBD for outcomes and the book Rob recommended “When Coffee and Kale Compete.”

Jon Harmer, who had originally answered “Under/Un-met Needs and Wants” pushed his thinking around what a product is and if you are willing to pay for it, and how Google fits into that paradigm, where we agree that as a user we pay with our data, which Google then monetizes.
I frequently use Market Problems, Need and Wants and JTDB interchangeably, it just depends on which construct works best for you, as I rewatch this conversation I think I am still in the Under/Un-met Needs and Wants camp, not just in homage to Drucker, but I find it easier to apply than JTBD.

My key takeaway? Whether you use Market Problems, Market Problems, Need and Wants, JTDB, or something else that is market focused, on the challenges faced by the persona and the desired outcome, you are doing it right.

We would love your thoughts on this exact topic, vote in the poll and add your thoughts in the Community at https://community.productgrowthleaders.com/posts/whats-your-preferred-approach-for-what-products-address