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Four phases of choosing a new technology product


May, 2017
When I choose to buy a new technology product, there will be 4 key phases.  The first question for early adopters is ‘does the product have the Functionality required’?  If there is only one solution with the required function then I will purchase it.  The next to be considered is whether the product is Reliable or not.   Given multiple choices that work reliably, I then decide based upon ease of Availability.  Only after these 3 factors have been ticked off, will I then make a decision based on Price.  Each of these factors are important, but they only really matter in turn if a competing product is also available.  If there is only one product offering the required functionality, then there are no other competitors to consider.

Research that Philips Lighting has conducted with lighting installers backs up this thinking, with the top four factors influencing their purchasing decisions being Quality, Availability, Price and finally ‘Ease of Installation’.  Our customers clearly trust a lighting product to meet the functional need of producing light.  How a product offer addresses each of these other decision factors is the key to a strong, successful business and requires the combination of abilities and services from manufacturers and distribution partners.  Only when working together can we satisfy these needs, and ultimately create value for each other.
 

If you’re interested in learning more about how Philips creates value with Partnerships, then contact us here.

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