IDEAS


Poor product definition or pricing structure.
An Ill-defined product may not be accepted if it does not provide expected or new and acceptable user benefits. An Ill-priced product may not be purchased if it is over-priced and, if under-priced, it may be perceived as inferior or 'cheap'.

What to do about it!
The market, users and competition should be analyzed well enough to determine acceptable product parameters such as:
  • A completely validated product (works as advertised).
  • A verified value chain: Features User needs User benefits; (A user buys benefits; benefits originate from needs and needs drive product features).
  • A Unique, but not 'way out' product.
  • Good User manuals.
  • Intriguing product style (industrial design).
  • Considered Cost-of-Manufacturing, Cost-of-Sales, support and user pricing.
Just remember that users look at a product and say, "What's in it for me?"

Strong Competition or No Benchmarking.
Unknown or under-appreciated competition can leave you in the dust.

What to do about it!
Seek out the competition and compare and contrast your product with theirs. Provide a product that is:
  • Less expensive with reduced, but most important performance and features.
  • Better performance and features at same price.
  • Fulfills more user needs at not too much greater price.
  • Next Generation, but not too 'way out'.

 
JUMP TO PAGE
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46

©2003, Richard M. (Dick) Haney
BACK TO: RICHARD (DICK) HANEY   IDEAS