BMI – 25th Session – Product Differentiation Is Not Just Physical but Can Be Created in the Consumer Mind
The 25th Session of BMI held on 23rd March 2022 was graced by Mr. Vikas Mehta, Former CEO and MD, Lowe Mullen Lintas, Dubai, on the topic “Product Differentiation Is Not Just Physical but Can Be Created in the Consumer Mind”. Mr. Vikas started the discussion by addressing the fact that there had been no real change or disruption in the market, either at present or in the past 5 years. He acknowledged how there is a serious need for creating products and services that differentiate and create a real change or impact in the world. Mr. Vikas elucidated the importance of not only thinking over and over again to be consistent, but also the importance of thinking differently. He added how augmented products and the value that is being added to a product are the actual differentiators in the market. He explained this by quoting Amazon’s delivery system of ‘anyone can deliver to anyone’, and ended by saying that by finding the actual market gap or pain point and addressing it, any market can be easily entered into and penetrated, no matter how saturated it may seem. It was an insightful session that concluded with interactive questions and answers session.