Understanding the core product of IndyCar racing is paramount if we are to determine parameters of the whole product.A marketing professor at the University of Delaware was kind enough to post some helpful class notes on the web. They include a succinct explanation of how to determine the core product that corresponds with our guiding Maxim - jobs that customers want to get done.
Core Product - marketers must first define the core BENEFITS that the product will provide to the customer.
Therefore, the Core Product (or service) is that which generates the core benefits that enable customers to complete the jobs that they want to get done.
Our Task
We need to brainstorm.
I ask that readers and contributors submit two lists.
- Elements of the IndyCar product that generate core benefits to customers.
- Jobs that those elements enable customers to get done.
Those who are new to this process are advised to read IndyCar Maxim #4. In addition, I have discussed the "jobs" approach to product development in this entry.
Please submit your lists in the comments section below. I will then organize them and bring them to the top of the next post so that we might give them all due consideration before we make our initial selections.
Roggespierre
1. Elements of the IndyCar product that generate core benefits to customers.
ReplyDeletea) Drivers
b) Race cars
c) Venues/tracks
d) Structure/rules
2. Jobs that those elements enable customers to get done.
a) Entertainment
b) Parasocial relationships
c) Interpersonal relationships
-John
John has an awesome start...I will add to that:
ReplyDelete1. Elements of the IndyCar product that generate core benefits to customers.
a) Drivers
b) Race cars
c) Venues/tracks
d) Structure/rules
e) Sponsors
f) Retail Sales (hats, shirts, etc.)
2. Jobs that those elements enable customers to get done.
a) Entertainment
b) Parasocial relationships
c) Interpersonal relationships
d) Brand Loyalty
e) A feeling of belonging
f) Good memories
-indyian
Question: by "elements of the IndyCar product," are those elements to be taken as the physical objects or tangibles involved (drivers, cars, etc…)?
ReplyDeleteI'm thinking what IndyCar is actually selling is an experience. And ideally, the benefits of 'the IndyCar experience' would be: entertainment, parasocial relationships, etc…
-John
The level of specificity of the "jobs" is important. Going off of what Roggespierre posted as "Maxim 4"...
ReplyDeleteUse the list of elements that is being built:
1. Elements of the IndyCar product that generate core benefits to customers.
a) Drivers
b) Race cars
c) Venues/tracks
d) Structure/rules
e) Sponsors
f) Retail Sales (hats, shirts, etc.)
2. A few jobs that customers (I'll use fans watching a race on TV) can get done via above elements:
1) Exercise parasocial relationship with one or more competitors (i.e. root for someone that they CARE about). (a, e?)
2) Feel like they are partaking in something that is somehow relevant or at least "big time". (a,b,c,e)
3) Be entertained by ACTION (i.e. passing, crashes and such). (b,c)
4) Be entertained by displays of driving skill. (b,c)
5) Watch something that has compelling implications beyond its own scope. (e.g. points championship). (d)
6) Be entertained by variables like different car and engine types, different setups, different driving approaches, etc. (b,c)
7) Feel more knowledgeable by observing technical evolution of product - see something NEW and interesting (b)
8) Enjoy seeing a preferred brand supporting the product and/or a favored competitor. (a,e)
9) Experience camaraderie with fellow fans who are all performing jobs like those above.
Is this a good level of detail? I'm sure some of these could be conveyed just as clearly with more general language. I can see how using "jobs" like this to develop both customer profiles and product element profiles could be very useful.
Oh, and are we looking to define jobs here for customers like sponsors and TV partners as well as fans?
Guys,
ReplyDeleteThe cool thing is that defining the elements and establishing the scope is entirely up to us - the product managers.
We're merely brainstorming for ideas at this point.
To answer the questions posed here:
I would think that the core product would include drivers and cars because without them there would be no product at all. Beyond those two elements, the rest is up for debate, I would think.
Best Regards,
Roggespierre
"R"
ReplyDeleteAgreed; drivers and cars--our internet and PC.
The rest can be as simple or as grandiose as we can perceive---but everything else flows from those two--even the "500".
Think of all the great drivers--not just those that won--but all the greats (Ted Horne comes to mind), and all the great cars that found fame and fortune or disfavor and even tragedy that made, and still causes the "500" to be a world event. Although a few more mistakes and it too could be in trouble.
I've spent time (way too much probably) thinking, checking and talking to people who have experience at the Speedway in the hopes of designing a formula that will be visibly and audibly attractive to everyone; drivers, builders, mechanics, engineers, fans and sponsors--and even interesting enough to find some casual viewers.
osca
Hi "R"
ReplyDeleteGood structure. Thank you.
I like what I am hearing here.
Core products I see, and I think I am repeating myself from last week:
drivers
cars
venues
rules
Jobs:
I won't repeat what others have written. The jobs listed could be prioritized, but all are good comments.
One suggestion that I think that has been touched on by the comment of feeling like you connecting with something "big time," but I want to cull out to the surface:
"obtain a sense of historical context."
I see this as the key differentiation for the Indy 500 and an essential brand attribute.
Anyway, I think this dialogue is particularly productive.
TC