Product is similar to the bait that is dangled towards the customer. Just like how the bait draws the fish towards itself, the product draws customers towards it. Product is not necessarily an item for sale but can also be services, ideas, solutions etc.
Your Product should satisfy a need
If you offer a bait that a fish isn’t likely to grab on, you’re wasting your time! So a product is something a customer would like to own! A marketer should first find out what the customer needs and then design the product accordingly and not vice versa. Same goes for those providing services or solutions. Before designing a product, ask yourself, if its going to add value, fulfill a desire or make life easier for the buyer.
Product must deliver
Then again, the marketer must always make sure the product delivers what’s expected from it. This is where quality comes in. Don’t think you can fool your customers by providing sub-standard products. They sure can be lured into buying your product once, with all those inviting advertisements, however, they won’t come back again. Only good quality goods and services brings back customers. One satisfied customer brings in ten more customers, but one dissatisfied customer turns away 15.
Our Product vs Existing Ones
If your product is not an entirely new concept, you will have to work on the additional features. Ask yourself why a customer should choose to purchase your brand? What additional benefits will he gain? Differentiating your product from existing ones does not mean adding unnecessary features. Take the example of mobile phones. Adding new features not provided by others is great, however, make sure these features don’t complicate things further. User-friendly always has the edge. Have a look at Google, who has strictly maintained its simple homepage, devoid of ads, fancy graphics etc. So getting your product to stand out has to be done wisely.
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