The Five Factors for Building Successful Products
Look around you and you will see a number of successful products. An iPod, a
Sony Vaio laptop, Colgate toothpaste, Coca Cola, Parker pens… the average
consumer will use hundreds of branded products in his lifetime. What is it that
you like about your possessions? You like your Whirlpool washing machine and
the Xerox copier because they work well and just go on and on without breaking
down. You adore your Volkswagen Beetle for its sleek looks. And you can‟t do
without Kellogg‟s for breakfast.
Here then, are the 5 vital factors needed for a successful product:
1. Create something that people want
2. Design and build it with high quality
3. Price it right
4. Keep the investment low
5. Backup with after sales service.
Gianfranco Zaccai, of the design group Continuum that developed the Adidas
intelligent shoe, says a hit product should be “technologically possibly to produce,
delight the consumer and be profitable”.