Basically, businesses that are into tangible products are on a dead end today. It is because they don’t have an idea on how to create a successful product. Most of the businesses today only adds more features on a certain product and increase its price. They market it as new products even if it is only an improvement of the latter.
It is true that we are lacking enough minds to create a successful product, but deceiving the public is not something that businesses should do. The richest man in the Philippines once said that you have to be honest with your customers if you want them to stay and be loyal in your brand. Well, how can you expect them to stay and be loyal to your brand if you are not giving them what they deserve?
If you wanted to build a successful product, here are some of the important things that you need to know.
Put Innovation as your Product’s Foundation
When creating a product, you should always put innovation as the foundation because in the end, everything comes down on how your product is unique from the others. It is really hard to create a unique product and it is also the reason why every company spends a lot of time, effort and money to create a new product.
Instead of wasting time thinking of adding new features on an already existing product, think of a new product. It will take time, but you don’t have to release new products on a regular basis. You can always add features and tell them that it will be a new addition to the products. You don’t have to add features and increase the price of the item.
Your Product should be Functional
The term “Functional” is not only for electronic products. It can be applied to all the other products on the market today. Let’s say that you already have an idea on what to product, the question is how can you make it functional? You cannot sell an idea. Your idea should be functional if you want people to buy it. If your product will not live up to what you are claiming, it will never be successful no matter what you do.
If you think that the idea of the product is good enough or the design, it should be functional first. It should be a step by step process. You can determine the functions of a product unless you innovate first. You cannot make a design unless you do the first two.
Think of an Attractive Design
Don’t overdo the design because you are not selling a product just because of designs. Make it look attractive and make sure that the functions will not be affected in any way. This is the last step in the successful product pyramid. Even if it is only about the design, it plays a very important role in the marketing of the product.
Many business owners and Filipino billionaires know about this, but only a few are using this. It should be done by business owners if they want to make a successful product.