Core Viewpoint - The investment landscape is shifting from "single product selection" to "platform selection," emphasizing the efficiency of asset allocation and long-term wealth preservation for investors seeking certainty [1] Regulatory Environment - The China Securities Regulatory Commission's 2025 action plan aims to establish a classification evaluation mechanism for fund sales institutions and reduce subscription and service fees, promoting a transition from a "fast" to a "deep cultivation" approach in the industry [1] Platform Strategy - Major distribution platforms are adjusting their strategies to focus on long-term returns and user experience rather than short-term gains, leading to diversified competition that includes advisory services, digital tools, and content ecosystems [1] Comparative Analysis of Fund Sales Platforms - The analysis includes nine representative fund sales institutions categorized into three core groups: third-party platforms (Ant Wealth, Tencent Licai Tong, and Tiantian Fund), bank-affiliated platforms (China Merchants Bank, Industrial and Commercial Bank of China, and Ping An Bank), and brokerage platforms (CITIC Securities, Huatai Securities, and GF Securities) [1] User Demand Analysis - The KANO model is utilized to analyze user needs across fund sales apps, categorizing them into five levels: basic, expected, attractive, indifferent, and reverse needs, highlighting the non-linear relationship between product performance and user satisfaction [2] Third-Party Platforms - Ant Wealth excels in attractive features, while Tencent Licai Tong offers limited advisory services. Tiantian Fund has the most comprehensive product offerings, catering to experienced investors [4] - Ant Wealth provides robust educational and community features, while Tiantian Fund allows users to filter funds based on specific criteria. Tencent Licai Tong lags in the richness of professional tools [4] Bank Platforms - China Merchants Bank stands out in expected needs by offering asset allocation reports, while Industrial and Commercial Bank of China relies on its offline network but shows slower innovation in response to younger, online investors [5] - Ping An Bank utilizes an intelligent risk assessment system to recommend products, addressing various user needs effectively [5] Brokerage Platforms - Huatai Securities' Zhangle Wealth integrates research capabilities to offer in-depth market analysis and fund evaluation, while GF Securities' Yitaojin leads in video content and real-time updates, enhancing user engagement [6] - CITIC Securities' Xintou provides personalized advisory services for high-net-worth clients, indicating a shift towards professional service-based revenue models [6]

Core Insights - The article emphasizes the importance of deeply understanding user needs to create strategic flagship products, highlighting that without genuine demand, products will not succeed [2][4][46] Group 1: User Needs - User needs can be categorized into explicit (above the iceberg) and implicit (below the iceberg) demands, with the latter representing hidden motivations and desires [2][4] - Identifying unmet or potential needs is crucial for product development, as conventional consumer demands are already satisfied [4][46] Group 2: Kano Model - The Kano model is introduced as a tool for classifying user needs and prioritizing them based on their impact on user satisfaction [5][6] - The model categorizes needs into five types: Must-be, One-dimensional, Attractive, Indifferent, and Reverse, each with distinct implications for user satisfaction [6][15] - Understanding the relationship between product features and user satisfaction through the Kano model can guide effective product development [5][6][15] Group 3: Demand Analysis and Case Studies - The article presents various case studies across different industries, demonstrating how the Kano model can be applied to identify and prioritize user needs effectively [37][38][39] - Examples include the consumer electronics sector, where a smartwatch's features were analyzed to enhance market share, and the food industry, where plant-based meat products were innovated to stand out in a competitive market [37][38] - Each case study illustrates the process of collecting user feedback, categorizing needs, and implementing changes that led to significant improvements in user satisfaction and market performance [37][38][39] Group 4: Strategic Product Development - Companies are encouraged to focus on "Attractive" needs to drive product innovation and market differentiation [46][48] - The article concludes that leveraging the Kano model allows companies to dynamically track and respond to changing consumer demands, fostering continuous product evolution [46][48]

Group 1 - The core issue in the current retail market is not "consumption downgrade," but rather a collective weariness of mediocre offerings from consumers [2][6] - The market has shifted from a "supply shortage" to a "supply surplus" era, leading to a situation where many companies are still using outdated strategies to address modern challenges [3][6] - Price wars are a sign of companies' inability to innovate and meet higher-level consumer expectations, resulting in a cycle of despair and competition without real value creation [3][5] Group 2 - Consumers are not unwilling to spend money; they are simply not finding products that excite them, leading to a silent outcry for better offerings [6][8] - The concept of "pseudo-innovation" is prevalent, where companies focus on superficial improvements rather than addressing the core needs and desires of consumers [5][6] - Successful brands are those that can create genuine desire and excitement among consumers, rather than just competing on price [7][8] Group 3 - The solution lies in shifting from merely meeting basic needs to creating "expectation" and "excitement" demands, as outlined in the KANO model [9][10] - Companies must focus on delivering value resonance rather than just functional satisfaction to engage consumers effectively [10][18] - Examples like Sam's Club and NIO illustrate how understanding and fulfilling consumer expectations and excitement can lead to significant business success [12][14] Group 4 - Companies need to undergo a three-step evolution to escape the cycle of internal competition: mindset revolution, capability upgrade, and cognitive restructuring [20][22] - The first step involves adopting a long-term perspective, akin to farming, rather than seeking quick profits [22][23] - The second step emphasizes the use of scientific methods to understand consumer needs deeply, moving beyond intuition [23][25] Group 5 - The final step is to redefine the company's role from merely selling products to being a partner that helps consumers achieve their goals [27][30] - This shift in perception can lead to a restructured business model that prioritizes experience, community, and emotional value [30][32] - The ultimate goal is to create desire rather than just meet existing needs, which is essential for long-term success in the market [38]