Creating a unique, original, highly desirable product isn’t really that difficult. It just takes a bit of thought and planning. Follow these key techniques to elevate your product in the minds of customers.
I always wondered what was so special about Beats by Dre, and why it was being sold at such a high price. At the end of the day, it’s a set of headphones, and there are many brands out there that could be better.
It wasn’t until recently, when I watched this video on YouTube, that I realized why it has become so popular—and expensive.
Nowadays, everybody sells the same product you might be selling. What makes it different? Why are customers buying from your competitor, and not you? Your price tag is lower, perhaps; you claim to have better customer service; but still, you are unable to attract customers. Here are some tips about how to make your product stand out.
Design: The first thing a customer sees is what your product looks like. Think of your product as a magnet that can attract customers. Make it beautiful, so that anyone passing by will say “Wow!” and want to examine it more closely.
Positioning: Positioning is basically the image of your product in the minds of your target customers. Think of who your target customers are, then try to implement positioning techniques. The goal here is to maintain that image in their minds. Think of your mobile data service provider, for instance: once you hear their name, you either think “Damn fast!” or “Turtle-slow.”
That additional thing: we all love Karak, cupcakes, and ice cream, and God knows how many shops are selling them. What makes a certain shop more desirable? It’s that additional thing they do or offer. I am sure the first Karak shop just sold plain Karak, and then another shop started selling Horlicks Karak, then ginger Karak, and so on. Don’t just sell the normal, regular product that everyone sells; go the extra mile, and add something to it.
Develop high perceived value: The key here is to make your customers go for the product and happily buy it, saying “It was worth every fils I paid.” This is what perceived value is all about. Create a perceived value for your product that is higher than the price you are charging, and you make your offer irresistible.
Know your competitors: This is one of the most important aspects you need to look at—seriously. Research your competitors, and understand what they offer, how they position their product, how much they sell it for, etc. Do not underestimate your competitors; they could take your business away in no time!
Of course, there are so many other techniques and strategies you could develop to beat your competitors; it depends on the overall environment you are competing in. Stay awake at all times, and don’t lose focus.
