Two weeks ago we told you how the product development process will change in the immediate future based on five influencing factors. Today we talk about influencing factor 1: Increased need for personalisation and individualisation.
Let’s face it; we’re surrounded by social media. We have Facebook, Twitter, Instagram, Pinterest, Snapchat and who know what fresh platform will crop up by the time you finish reading this. With the influx of social media, there comes the inherent pressure. To be accepted. To belong. To be part of a cult. This stems from the desire to find common ground amongst our peers and the society around us.
AS a paradox, this also carries with it, the urge to express our individuality. We’re all individual people, with our own personalities, tastes, choices, desires, needs and wants. Who we are is reflected in how we express ourselves. An inseparable part of this is the products we buy and use. We no longer crave for the latest smart phone or the latest piece of gadget. We want to personalise it, to the point it has to be an extension of who we are. We no longer want our BMW to be a standard Metallic Ruby Red, we want it to be a Equitus Eternal Red!
Now, the challenge you need to overcome is to balance the desire for personalisation (value addition) with the standardisation of the parts (cost minimisation) that you have to make your products. Let’s look at it with an example that we’re all quite familiar with: the ceremonial night-out kebab
If you live in Manchester, or anywhere in the country for that matter, the local kebab shop will be a familiar haunt. There are so many of them, specialising in serving a selection of kebabs. Flavourful food apart, we love how they individualise your kebabs.
They have the standard kebab meats, marinades and grilling style, which form your standard parts, let’s say. The personalisation happens with your selection of accompaniments which enhance the flavour of your base product. You can go with a variety of naans or pittas, then again, pick and choose what aspects of a salad you want or don’t want, and the final step is the sauces you’d like on your kebab. Your friend and you could be having the same chicken kebab, but with different enhancements to suit your individual tastes.
Three things we wish to leave you with today:
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