Importance of target locations for implementation
When we decide on releasing some product, be it software or any service, the most important thing to be cared about is the targeted audience. By the targeted audience, I mean the end users in the case of a software/hardware, listeners in case of a music album and so on. If our product is targeted to hit a specific market, proper research should be made regarding the audience who are going to use the service.
We know that there is a phase of requirement gathering in any of our product development life cycle. Most of the times, we are concerned about the functionality of the product, that its end user might be using. By this phase, one may be able to make the users, who actually are using the product happy, but it helps little to gain more customers for the product. For that, we rely greatly on marketing techniques. This works for products which could be available for use at any location. But while we decide to launch some service, then the targeted location should also be taken care of. There should be proper study on the amount of usage and also, sales expected at a certain location, before fixing it as the targeted location.
This is a serious matter for products in critical domains like Banking, Finance, Healthcare etc. If we initiate an investment bank in an area where most of the people are below poverty line, or are banking illiterate, there won’t be much time required to wind it up. Emphasis should be made on this specific field, during the phase of requirement gathering. If not properly planned, it becomes difficult in the implementation phase to identify the coverage of critical target locations. The estimation thereby plays an important role in service products and packages. There are quite a number of examples that we can find in our day-today life where this problem persists due to missing of study at estimation phase. For example, a major banking giant in India with most of corporate accounts with them has got very less number of ATM counters nearby the IT park, as well with lesser money limit, thereby leaving the major revenue generating corporate clients with the situation to look for distant tellers. This exists at the same time when there is more than required number of counters in posh market places, where the plastic money would be the more expected choice.
These types of situations make our customers take necessary decisions, which might in effect result in us, losing business. Hence, the targeted location is as important as the audience while considering a product or services launch.
We know that there is a phase of requirement gathering in any of our product development life cycle. Most of the times, we are concerned about the functionality of the product, that its end user might be using. By this phase, one may be able to make the users, who actually are using the product happy, but it helps little to gain more customers for the product. For that, we rely greatly on marketing techniques. This works for products which could be available for use at any location. But while we decide to launch some service, then the targeted location should also be taken care of. There should be proper study on the amount of usage and also, sales expected at a certain location, before fixing it as the targeted location.
This is a serious matter for products in critical domains like Banking, Finance, Healthcare etc. If we initiate an investment bank in an area where most of the people are below poverty line, or are banking illiterate, there won’t be much time required to wind it up. Emphasis should be made on this specific field, during the phase of requirement gathering. If not properly planned, it becomes difficult in the implementation phase to identify the coverage of critical target locations. The estimation thereby plays an important role in service products and packages. There are quite a number of examples that we can find in our day-today life where this problem persists due to missing of study at estimation phase. For example, a major banking giant in India with most of corporate accounts with them has got very less number of ATM counters nearby the IT park, as well with lesser money limit, thereby leaving the major revenue generating corporate clients with the situation to look for distant tellers. This exists at the same time when there is more than required number of counters in posh market places, where the plastic money would be the more expected choice.
These types of situations make our customers take necessary decisions, which might in effect result in us, losing business. Hence, the targeted location is as important as the audience while considering a product or services launch.
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