Afiq’s 5 Ps in FingerTec: Part 5
'Afiq’s 5 Ps in FingerTec’ is a 5-part mini-series chronicling
the writer’s observations on FingerTec Worldwide through the 5 Ps of marketing
as he stumbles along his first year in the company. In Part 5, the writer
discusses the Product component of the tool. You can read the past
installments here: Part 1 · Part 2 · Part 3 · Part 4
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| There's more to Google than the search engine, actually |
I came across an interesting question last week: What will happen to Facebook after Facebook? This happened during my daily market research (aka the 30-minutes of random surfing I do before starting work) as I read an article that questioned if Facebook, the company, was prepared for business if Facebook, the social networking site, would one day become obsolete. This is important, because a good company shouldn't simply bank on one product as every product has its market shelf life. That's why Google, the company, is more than just Google, the search engine. So what about FingerTec? Do we stop merely at fingerprint technology? Of course not! Read more to see how we've placed our core, actual and augmented products.
Augmented Reality?
It's a bit unconventional to talk about the three levels of a product in reverse, so try to see where I'm heading with this, okay? Augmented products are the outermost layer of a company's offering to customers, and in FingerTec's case, this refers to our comprehensive customer care and support before, during and after sales are made. Encompassing things such as our online treasure chest of marketing materials, smartphone apps, after-sales warranties, free support as well as social media sites, we've basically got our customers covered in terms of help throughout the whole decision making process. Why is this important? Because we know that even though our products can attract customers, it's our customer care and support system that gets them to stay.
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| The three levels of a product |
So what are FingerTec's actual products? If this was a form to be submitted to the customs, I'd say FingerTec offers time attendance and access control hardware (mechanical and electronical) and software, which ranges from a simple single standalone terminal to a holistic system with readers, controllers, EM locks, data management software, and etc. Quite a mouthful, huh? In particular, FingerTec's main focuses are in biometric devices, such as our fingerprint and face recognition devices, as well as data management software and applications like Ingress and TimeTec Web. The company uses a mixture of product lining and product bundling techniques, several different lines of offerings for specific needs as well as bundling them together with our other items in a single unit. This means that when, for instance, buying a face recognition device, customers can choose between Face ID 3 or Face ID 4 and buy it either on its own or bundled with software and accessories. And that's that for the driest part of my post.
At the Core of It All
Unlike the actual product, one can't touch a core product as it refers to the VALUE or benefit derived from the actual products. In FingerTec's case, although our name may suggest otherwise, we provide more than fingerprint devices. No, the company actually provides convenience, in two things: managing staff attendance and access control. Thus, it doesn't matter that all products and services have a finite shelf life, as long as one's core can continue to satisfy market demand, a company can persevere in any condition. And that's probably how Facebook, the company, will resume business once Facebook, the site, runs its course.
Unlike the actual product, one can't touch a core product as it refers to the VALUE or benefit derived from the actual products. In FingerTec's case, although our name may suggest otherwise, we provide more than fingerprint devices. No, the company actually provides convenience, in two things: managing staff attendance and access control. Thus, it doesn't matter that all products and services have a finite shelf life, as long as one's core can continue to satisfy market demand, a company can persevere in any condition. And that's probably how Facebook, the company, will resume business once Facebook, the site, runs its course.
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| Bruce Lee is happy with his core values |
According to some, the secret behind the Asian legend Bruce Lee's fast feet are actually in his core muscles. His punches and kicks are quick because his abs are strong enough to push and pull those limbs during action. Meanwhile, in Malay folklore, the source of strength for Hang Tuah is not in his keris but the first Arabic letter in his name, 'ta'. Criminals would start feeling fear as soon as they hear the first alphabet of his name, and half the battle's already won. So what can FingerTec learn from these two awe-inspiring figures? It's that the strength of a company, be it Google or Facebook, will come from its ability to use its core as a source of power. The tangible, physical products may reel people in but in order to stay strong against the tides of time, you've got to recognize your core.
About the writer: Afiq Jauhari is a Malaysian Malay male in his late 20s, previously working in a local banking institution before joining FingerTec Worldwide in December 2012 as a Junior Copywriter. His interests include basketball, comedy and writing; and still dreams of becoming a well-liked, funny basketball coach with a few bestselling books.
P/s: Thanks for reading Afiq's 5 Ps in FingerTec. It's been a blast trying to relate this marketing concept to the company. If you have suggestions on other concepts that you'd like me to take on in the future, email me here. I'll appreciate it, trust me.
About the writer: Afiq Jauhari is a Malaysian Malay male in his late 20s, previously working in a local banking institution before joining FingerTec Worldwide in December 2012 as a Junior Copywriter. His interests include basketball, comedy and writing; and still dreams of becoming a well-liked, funny basketball coach with a few bestselling books.
P/s: Thanks for reading Afiq's 5 Ps in FingerTec. It's been a blast trying to relate this marketing concept to the company. If you have suggestions on other concepts that you'd like me to take on in the future, email me here. I'll appreciate it, trust me.
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