In today’s hyper-competitive economy, marketability of a service/ product and how much market share it captures is a function of how relevant it is to the target segment and how large an impact it creates for its customers. If we consider a 2×2 matrix, with Relevancy on the x-axis and Impact on the y-axis, we can divide this matrix into four quadrants. On the upper right hand quadrant, is where we want to operate- high relevancy & high impact. If our offering is not highly relevant to the potential customer and simultaneously does not have a significant positive impact in helping solve the prospect’s business pain, we will not have a winner on hand.
Differentiation commands value and contextual relevancy & impact sustain value and enable capturing market share. If what you are offering, is not in the fourth quadrant of the 2×2 matrix, then you should reconsider investing resources to deliver your product/ service.
Remember, its not about you- its about your customer and their needs and what you can do for them and how your offer is going to help them solve their business pain.