The Anatomy Of A Good Product strategy

The Anatomy Of A Good Product

You’ve got something to sell, right? It might be something physical or something intangible, but you are sure that it is something everyone needs. Otherwise, why should anyone be interested? Making a good product is much more difficult than it seems. There is a lot of attributes to consider before it becomes something noteworthy.

Products should bring value. This goes beyond the monetary value of a product as customers are not as satisfied by frivolous items. When you develop a product or even a service, make sure you do so intending to give your customers the best experience possible. This should play a productive role in their lives.

A product becomes desirable when it solves a problem: it adds value. But another thing to consider is if it is unique. What makes your product different from its competitors? If there are similar products on the market, then do you can to distinguish yours from the crowd and make it identifiable. This is a major part of your branding.

Another thing to consider is the price of your product. A product cannot be unprofitable, but it also can’t be grossly overpriced. The best way to attract customers is to know who your customers are and what their income can support. A product that is too cheap might be seen as a cheaply made item, but a product that is too expensive won’t put you into the category of luxury unless the other attributes are high quality. Always consider your intended audience.

Distribution is another major thing to consider. Amazon is a shopping destination mainly because of its convenience. Accessibility goes beyond having an online store: inexpensive or free shipping, international delivery, discounts and customer service are crucial to connecting your product to your customers. Never take these things for granted.

Just because these are some attributes that can make a product great, these aren’t the only things you can improve on to make a product that is highly sought after. Innovation and creativity cannot be taught because it is learnt through experience—a gruelling period of trial and error. Creating something new is one way to disrupt an existing market, providing that it has the aforementioned characteristics.

Marketing is a strong part of getting a product the masses, but what happens when all eyes are on you and your product can’t perform? You lose credibility when you put forward shoddy work. Customers are much more aware today than before and there is no point in trying to insult their intelligence.

Product development goes far beyond making something and testing it out on your friends and family. Create something that you can prove is effective in an unbiased trial. A product is only as good as its attributes and a customer would value it as long as these attributes positively impact their lives.

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