The Product Profile Sheet

The Product Profile sheet analyzes your products in terms of the concepts discussed in this chapter, such as:

• Features. List the key features of your product that add value to it. The more specific the description, the harder it is for competitors or customers to redefine them to your detriment.

• Benefits. Express them in terms of time or money savings. Express a benefit as a verb followed by a noun.

• Value Type. Decide whether the benefits are perceived or measurable.

• Focus. Determine if the benefits have an internal or external focus or both.

• Unique Strengths. Review the summary on unique strengths before you classify a feature as such.

• Value Rating. Assign a 1 for a feature everyone possesses, and a 5 for a unique strength only your company has.

• Analogies. What everyday event parallels your highest-value unique strength or strongest feature?

Use this data to decide which market segments your products best serve. You develop a Product Profile sheet for each product. A Competitor Product Profile sheet should also be filled out for each product. (Microsoft Word templates for the sales tools shown in Exhibit 2-5 and Exhibit 2-6 can also be found as downloadable files on www.measuremax.com.)

Product: Talk Free and Clear Calling Program
Features	Benefit	Value Type	Focus: Internal, External, or Both	Unique Strengths	Value Rating
Digital Signal	Improves reception	Perceived	Both: you can reach customers more easily (I). Customers can reach you more easily (E).	Yes	5
	Increases battery life	Measurable	Both: same as above	Yes	5
	Extends talk time between recharges	Measurable	Both: same as above	Yes	5
Hands-Free Operation	Increases safety	Perceived Value	Internal (external to other drivers)	No	1
Free Weekend Minutes	Reduces weekend costs	Measurable	Internal	No	1
Analogy: The difference in reception between digital and analog is like using a satellite dish to get your TV picture versus a set of rabbit ears antennae.

Exhibit 2-5: Product profile sheet example.

Products/Services: Predicto Services, ProdoGain, and CodeCheck
Products/Service	Feature	Benefit	Value Type	Focus	Unique Strengths	Value Rating
Predicto Services	Variance Alerts	Prevents Unscheduled Breakdowns	Perceived Value	Both. It ensures uninterrupted shipments to their customers (E) and saves money from lost production (I).	Yes	5
	Tolerance Checks
Analogy forVariance Alerts: It is like the low-fuel warning in your car. You look for a gas station before you run out of fuel.
ProdoGain	Single-Operator Controls	Eliminates Need For Two Operators	Measurable Value	Internal	Yes	5
ProdoGain	200-Unit Capacity	Increases Capacity By 15%	Measurable Value	Internal (more revenue) and External (more available stock to their customers)	No	1
ProdoGain	5-Year Warranty	Eliminates Repair Costs	Measurable Value	Internal	No	1
Analogy for single-operator controls: It is like flying your own private plane; you do not need a copilot to help you get where you are going.
The CodeCheck Program	Computerized Program	Analyzes Operations for Potential Violations	Perceived Value	Internal	Yes	5
Analogy for Computerized Program : It is like using a geopositional satellite to navigate you through a gigantic legal maze. It tells you how to stay on track, and how to get back if you get lost.

Exhibit 2-6: Product profile sheet example.

The example in Exhibit 2-5 shows how you record the Talk Free and Clear service package on a Product Profile sheet. The Market Profile sheet in Exhibit 2-6 on page 64 illustrates how a salesperson, Steven Smartsell, working for a fictitious company called Future-Tech, fills one out. The company provides high-tech products and services to computer manufacturers. (Subsequent chapters will follow Steven's sales efforts throughout the process of using the selling system described in this book.)