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5 Criteria for Product Success

30/5/2010

1 Comment

 
I just rediscovered this in the book entitled "Bringing Your Product to Market" (1997) , although there looks like author Don Debelak has a revised edition.  In the introduction, he lists the 5  essential criteria for a successful product:
  • The product is easy to distribute.
  • The technology is simple.
  • The product is perceived to be unique.
  • The benefit is obvious.
  • The product can be sold at 4-5 times it's manufacturing cost.
In my now over 20 years working with technologies (mostly in life sciences) and over 10 years with entrepreneurial/ early stage enterprises, I  certainly agree with all of these criteria and can unfortunately cite numerous examples where lacking one or more of these criteria  led to eventual failure in the market.
1 Comment
Duncan Jones
21/1/2015 11:55:53 am

I would also add":
- The product/technology has a sustainable competitive advantage (i.e. intellectual property including patents and know how/trade secrets or unique assets (i.e. land/location, exclusive distributors etc.)

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