Article: Products That Sell

Note: - This Article is part of a series of Articles on the subject of 'Taking a Prototype to Production'

Product Development Mindset

The key difference between developing a Proof Of Concept and developing a market ready product is mindset.

For Proof Of Concept the thought process is about How To Make It Work

For Product the thought process is How To Make A Product That Sells

Successful products broadly fall into one of three categories:-

1. Similar to products already in the market, but may have Similar Features at Lower Price

2. Products That Solve a Problem

3. Products That Bring Joy

Let's explore these product categories a bit.

1. Similar to products already in the market, but may have Similar Features at Lower Price

We see these kinds of products everyday in our lives, but pay very little attention to them. Toasters, grinders, pans, pens, notebooks, keyboards, mouse, usb memory sticks, fans, lights etc, etc . The list is endless.

Most probably the only thing which made us buy one make over the other was price, features being almost the same. Not much in terms of Uniqueness or Innovation, the oft bandied about word. Yet many of these products are very successful. Selling in large numbers and making money for their manufacturers.

Uniqueness is overrated. Innovation need not be in Product itself. It could be in the sale of the product, or service after. It could be in the Production Process which makes it cheaper than its competitor. If any one aspect is better, there is a good chance the Product will do well.

Let's not ignore the chance to develop such products.

2. Products That Solve a Problem

Some examples are Products that save electricity, or water or help improve health. These products target specific problems present in the world, for which a viable solution has not been found. These require large amounts of study and research. The products itself may be simple but lots of time needs to be spent on monitoring their impact on the problem, and the quality of the solution that they offer.

Kind of fall in the 'Serious Products Category'

3. Products That Bring Joy

These products may not serve any useful purpose at all, but are totally irresistible. If we look around our rooms we may see such products. Some may be in the form of souvenirs, or in the form of fancy gadgets. Things like fancy clocks, lights, coasters, watches, etc. Bought on an impulse, shown off for maybe a week and then discarded or stored away 'safely', these products satisfy the short term urges of a customer.

There is a Massive market for these things.

So if you're trying to develop a new product, check if it falls within one of the categories mentioned above.

Although it is very tempting to be labeled as 'Innovative' or solve a problem that society faces, Remember, the Fun Stuff Also Sells!!!

TL Micro Automation - Electronic Products , Embedded Design Services , Consulting