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According to Keller and Kotler, clients are the center for success of organizations and their products. In this essay, success of electronic products (product I bought) is explained with reference to characteristics of innovation (relative advantage, compatibility, complexity, divisibility and communicability) while putting into perspective Keller and Kotler’s approach in marketing.
For an electronic product to be successful, we must consider characteristics of innovation since innovation brings a variety of new products which “transform industries and companies”, (kotler and Keller, 2009).
This is because the extent to which an innovation is perceived as superior to previous innovations (relative advantage) influences success of electronic products as customers go for superior innovations (A Century of Innovation, par. 2-5).
Innovations should also be consistent with existing products (compatibility), otherwise they will be rejected. Furthermore, they should be easy to use (complexity) and should allow divisibility for risk reduction and small scale testing on customers. Communicability influences success of electronic products as visible advantage of products can lead to acceptance by customers (A Century of Innovation, par. 7)
For characteristics of innovation to enhance success of a product, other approaches are incorporated for example Keller’s and Kotler’s approach in marketing.
According to Keller and Kotler, innovation and teamwork are important in success of products because “marketers are playing a key role in development of new products by identifying and evaluating new product ideas and working with other areas in every stage of development” (Kotler and Keller, 2009)
The kind of innovation a company employs also influences success of electronic products. Such innovations may be applied with Keller and Kotler’s approach.
For example, solution innovation solves client issues, brand innovation captures new markets, process innovation adds value to customers and platform innovation creates new brands or electronic products. On the other hand, companies employ other modalities for example syndication innovation which incorporates various sources of information to the advantage of customers.
However, it has to be noted that success of innovation varies from company to company. It is important for companies to build innovation into their core operations to enhance success of products (A Century of Innovation, par. 2)
To this end, there is need to focus on proper management of client information, customer data analysis and understanding client needs. This leads to increase in existing customer value which in turn captures customer loyalty and wins new customers (kotler and Keller, 2009).
In addition, “perceptions and beliefs held by consumers are reflected in associations held in their memory” (Kotler and Keller, 2009). Hence, Keller and Kotler emphasize importance of brand in differentiating one product or service from another. This means that a product’s success depends on needs of customers, their perceptions, beliefs and experience with the products.
Keller and Kotler employ a distinct approach to understand needs of customers in terms of their thinking, worries, products they admire and people influencing them.
This provides the organization with clues on modalities to build relationships with clients in ways that uplift them in terms of their needs (kotler and Keller, 2009).
Furthermore, information on clients’ choices of products is essential in marketing process and product success whose main goal is to provide quality services to clients for a profit. This is based on Keller and Kotler’s view that “marketing involves satisfying customer needs and wants” (Keller and Kotler, 2009).
Therefore, there is need for companies to conduct research so that they are kept abreast on innovation in terms of relative advantage, compatibility, complexity, divisibility, and communicability.
This is because many organizations admit that a large percentage of innovations are derived from customer complains for example interactive websites and customer complaint cards (kotler and Keller, 2009).
References
A Century of Innovation: The 3M Story. Web.
Kotler, P., & Keller, K. (2009). Marketing management (13th ed.). Upper Saddle River, New Jersey: Pearson Prentice Hall. ISBN 13: 9780136009986
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