It’s all about the benefits

 

The late Theodore Levitt, professor of marketing at Harvard Business School, was a champion of customer benefits as the benchmark for value in marketing. As he memorably put it, customers don’t really want a drill—they want a hole.

That single insight fundamentally changes the way you develop and position products.

The same could be said of intelligence. Intelligence users don’t really want more information to read (or listen to) and discuss. They want to be more competitive—to have more sales, higher margins, a higher stock price, and so on. Competitiveness is the end, intelligence is but a means to that end. Intelligence derived without concern for the value proposition that it is serving will almost necessary not be value-focused, and as a result will not achieve the returns it potentially could achieve.

Excerpt from the Introduction to The Knowledge Value Chain Workbook by T.W. Powell.

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    COMPETING IN THE KNOWLEDGE ECONOMY is written by Timothy Powell, an independent researcher and consultant in knowledge strategy. Tim is president of The Knowledge Agency® (TKA) and serves on the faculty of Columbia University's Information and Knowledge Strategy (IKNS) graduate program.

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    "During my more than three decades in business, I have served more than 100 organizations, ranging from Fortune 500s to government agencies to start-ups. I document my observations here with the intention that they may help you achieve your goals, both professional and personal.

    "These are my opinions, offered for your information only. They are not intended to substitute for professional advice."

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    COMPETING IN THE KNOWLEDGE ECONOMY is sponsored by the Knowledge Value Chain® (KVC), a methodology that increases the value and ROI of Data, Information, Knowledge, and Intelligence.

    The contents herein are original, except where otherwise noted. All original contents are Copyright © TW Powell Co. All rights reserved.

    All KVC trademarks, trade names, designs, processes, manuals, and related materials are owned and deployed worldwide exclusively by The Knowledge Agency®. Reg. U.S. Pat. & TM Off.

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    E SCIENTIA COPIA. Knowledge is the Engine of Value.