Features and Benefits
I'm having a blast teaching a unit around product features and benefits.
Marketers study the features and benefits of their products/services, and that of their competitors, to understand how to position their products to customers.
In an ideal world, we as consumers analyze these features and make buying decisions from our analysis. Sometimes however we make buying decisions based on a combination of habit and emotion. That's human nature. Marketers understand how consumers think and act and help us make decisions by explaining clearly and compelling their product's features and the benefits from the features.
Marketers study the features and benefits of their products/services, and that of their competitors, to understand how to position their products to customers.
In an ideal world, we as consumers analyze these features and make buying decisions from our analysis. Sometimes however we make buying decisions based on a combination of habit and emotion. That's human nature. Marketers understand how consumers think and act and help us make decisions by explaining clearly and compelling their product's features and the benefits from the features.
Translating Features to Benefits
I have the students translate features to benefits using the model of Feature SO Benefits.
In this example, we apply the Features SO Benefits to a cellphone brand who has "the "widest screen in the market". That is the feature. SO, "you will see all the details of whatever you watch". That is the benefit of having the widest screen. Students quickly pick this concepts up with a few examples and practice. |
3 Types of Benefits
There are three types of features [link]:
Core (Ante) Benefits: Include the most basic benefits of a brand, product or service. These are considered table stakes, and must be delivered to even be considered. Fast food needs to be fast. A convenience store should be convenient. Financial services need to deliver acceptable rates. Prescription medications need to work. Once ante benefits are delivered, other benefits can be layered on in broadening value. Driver Benefits: Provide distinctiveness. Here, the benefits extend beyond antes to incorporate benefits that drive differentiation and purchase. This might include relationship benefits for a financial services company or extended release for a prescription drug. Reassurance Benefits: Provide an emotional connection with the brand. Effectively communicating reassurance benefits require a delicate balance between implicit and explicit tactics. Telling a customer to “feel” a certain way for using a brand needs to be achieved through effective creative, tone and manner. |
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This is how it looks after we build out the example in class.
At this point, I have the students do an in-class activity where they quickly apply the Feature So Benefit model to solidify understanding and check comprehension. The students choose a product/service, read the marketing for that product and complete at least one example of Features So Benefits for each type of benefits (Core, Driver, Reassurance). |
The Project
Now students are ready to try develop the skills on their own.
The students engage in a week long project that has them: -Choose a product category (baby diapers, for example) -Research all brands selling this product category. -Research the Features & Benefits brands are positioning themselves around. -Analyze the big picture. Which Features & Benefits are common for every brand. Which are exclusive to one or two brands, etc. --Make marketing recommendations when considering launching a product in this category. Which Features & Benefits would the students target in their marketing. -Create a presentation to management explaining their findings and recommendations. |
Analyzing the Marketing Analyst Career
Towards the end of the unit students begin to research the Marketing Analyst career. This is really exciting for students to learn after we have completed the project as they get to see real professionals who make money doing what they just did.
Professional's Profiles
We start by having the students read the profiles of a hand-selected cohort of Marketing Analysts. They get to see where these professionals work, where they went to school, their career progression, and what they do as Marketing Analysts.
Job Descriptions
Next, the students review relevant job postings. Here they see what companies are hiring Marketing Analysts to perform competitive analysis. They read the job description to learn what the job entails. They read the minimum and preferred requirements to understand and imaging their pathway to getting this job.
Salary Information
Lastly, we look at salary information for Marketing Analysts. Using Glassdoor, we find the average salary range for this position and also what they can expect with different levels of experience (entry level 0-5 years verses senior level 7-15 years)
Get the curriculum
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