Multiplicity: All about Expanding your Product Line
What Makes a Product Great?
November 8, 2016
Great: /ɡrāt/adjective: Of an extent, amount, or intensity considerably above average.
Greatness starts with a vision. Greatness comes from a deep inward conviction to achieve that vision by putting forth effort and unceasingly perfecting every aspect and element until it becomes a reality. The same principle applies to the making of a great product. Let's look together for the key features of a great product!
First and foremost, a product should satisfy these criteria and deliver the following:
1. Solve a problem (or, better yet, a set of problems).
2. Fulfill some psychological and emotional needs - For example, Starbucks creates sense of belonging for customers. Also, the so-called luxury goods or high-end products, consumers purchase these goods because they convey a sense of status, wealth, and exclusivity.
4. A price that is fair and reasonable based on the target market.
5. Meet quality standards - Such as a product must meet the required specifications as defined by the operating and quality procedures.
6. Accessible and convenient - Yes, technology plays a key role.
7. Reliability of delivery - Present the mechanism to monitor progress and track delivery status.
8. Usability - The ease of use and learnability of the product.
9. Durability - Does it last as long as promised? In today's competitive market, demands on functionality, user reliability, and technical durability of materials and products are significantly higher than before.
Next, a few more ways to make your product stand out:
10. Innovation - How does the product measure in the category of uniqueness?
11. Personalization and Individualization.
12. User experience - The goal is to create happiness. You want people to feel happy before, during and after they have used your product.
13. Modern aesthetic design for both labeling and packaging.
14. Excellent customer service - This should really be a basic requirement.
15. Develop brand engagement - Create an emotional bond with your customers.
16. Offer loyalty programs and buying incentives
And now, to go even above and beyond (or simply, knock the socks off any competition that gets in your way) in achieving true greatness:
17. "First-class" design - A sophisticated and luxurious look and feel, where every aspect compliments each other.
18. Community - Generate greater brand awareness and strengthen the brand identity.
19. Deliver superior product quality
20. Flexibility -The amount of responsiveness (or adaptability) for any future change in a product.
21. Scalability - Allow add-ons or plug-ins to enhance existing functionalities and usages.
22. Commit to environmental sustainability and social responsibility.
23. Be the brand that gives - Purpose-driven construction and cause-based production
24. Continuous improvement - It goes without saying that it is important to continuously improve or modify your product along with customer service at every touch point throughout the customer journey to remain "great"!
"Here is a simple but powerful rule: always give people more than what they expect to get." ~ Nelson Boswell