I always assumed companies should focus on creating the most desirable product or service at the most competitive price point, and customers will buy what they want the most, but it's often not the case.

Want ≠ Buy

Here are two main areas that are also critical apart from the traditional 4Ps (product, price, place, promotion).

1. How the customers want to buy.

Most entrepreneurs naturally start from how they want to sell. However, by doing that they often overlook their customer's search process in finding the product/service (PR, marketing, social media, referral etc.), and the most desired payment model, such as lease, purchase or subscription.

For example, I loved the Mercedes SLK but ended up leasing a BMW, because they provided a 2-year lease option and included a very comprehensive maintenance program for free. Payment model dominated this decision.

"Align your business model to how your customers want to buy; integrate the customer buying process into your support operation" (Martin Zwilling on Forbes)

2. What are the customers' concerns.

When I first saw Oculus Rift's video, I was amazed and totally wanted one regardless of the price. But I didn't end up pledge for their campaign because it just didn't "seem fit". I wasn't sure what games will be supported and which console is required. I didn't know about the company's reputation and their execution capability (even Google failed to build a Google Glass developer community). Customers want "end-to-end solutions", which may require product/services from more than one vendor.

The other example is Alfa Romeo's 4C Coupe, which is an awesome car by many reviewers and sells on the same price range to Mercedes, BMW and Porsche's entry level sports coupe. However, being the new kid on the block, customers are naturally concerned about the reliability, maintenance cost and safety. Before getting these potential concerns out of the way, Alfa Romeo's sales number will remain at double digits per month in the U.S., even after sizable marketing spendings.

In a startup's world, these two issues might drive the business from being product-centric to being more and more customer-centric. The good-o single tagline marketing approach (think "It's toasted" in Mad Men) might appear too naive and not efficient enough. Data-driven business models are sometimes required to make sure product/services are created the way customers want to buy and eliminate customers' concerns before hitting the "Pay" button.

Originally published: https://www.linkedin.com/pulse/customers-might-buy-what-want-maxwell-zhou