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Your Product as Everything, Often Does NothingBy Matthew
Yubas
A common marketing mistake I see over and over is trying to sell
a product as a multi-purpose solution. A product that can do many different tasks
usually doesn't do any one task better than the competition. Herein lies part
of the problem. As consumers we typically experience one problem at a time and
then shop for a single solution.
Ask yourself
as a buyer, do you specifically look for multi-purpose products or do you look
for a specific solution? Your good steak knives can be used to prune a tree, open
letters, and to cut fishing bait. But don't you usually buy a separate pruner,
letter opener, and fishing bait knife? Exceptions
to the Rule
There are a few exceptions to
this rule. There is the clock radio, boom box, Swiss Army Knife, and all-in-one
printer, scanner, copier, and fax machine. If products are typically physically
placed next to each other, there is the possibility of combining them. For example,
a clock and radio often sits next to each other on the nightstand. By combining
them together, it saves space, shares certain components to save costs, and adds
the extra feature of waking up to the radio. Where
Does it Fit?
In most cases, your customer
wants the best solution among the alternatives. Tailor your product to solve a
specific problem or satisfy a particular need or want. Imagine shopping for a
coffee maker. You might be looking for the top-of-the-line model, least expensive,
or one considered the best value. Or, suppose there was a multi-purpose coffee
maker, popcorn popper, and waffle iron? But you're looking for just a coffee maker.
You look at the multi-purpose machine but it's more expensive and doesn't have
all the specific coffee maker features you want. And using the multi-purpose machine
might prove difficult if at the same time one person wanted coffee and another
wanted to make waffles.
The other big problem
is for the retailer. Retailers and distributors prefer a product that fits into
one category. Where to they place the multi-purpose machine? Does it go in the
coffee maker section? Next to popcorn poppers? Or, the waffle iron section?
When marketing a multi-purpose product, there's
the issue of not focusing on a target market. If a multi-purpose product caters
to many different people, the cost of marketing simultaneously to each segment
raises significantly. With a fixed budget, instead of making a big noise in one
market, you end up making a small noise in many markets. Conclusion
For success, create a product that solves a problem
or satisfies a need or want better than anyone else at a reasonable price. During
early development, talk to potential customers and ask what features are important
and what features are not important. Eliminate all the features that do not make
your product sellable. And make the important features more attractive than the
competition. Then you'll be on your way to product success.
Next step: Please see the Invention Success Kit - Self-Marketing
Edition.
About Product Coach
Matthew
Yubas is the owner of ProductCoach.com. He is a Certified Professional Marketing Consultant for the Small Business
Development and International Trade Center.
He
has developed and marketed products for 24 years as an Engineer, Product Manager,
and Consultant for startups, small business, and Fortune 500 companies. He has
helped launch several new products such as software applications, wireless devices,
photography equipment, auto accessories, soy candles, children's clothing, sporting
goods, digital art, and home décor.
Mr.
Yubas is the author of the book "Product Idea to Product Success" and "Patent to Market Success" as well as several articles,
eBooks, Kits, audio programs, and DVD.
He
has been featured on television, radio, and in syndicated publications such as
the Wall Street Journal, Fortune, Entrepreneur Magazine, and Inventors Digest.
He has earned a B.S. in Engineering from
Pennsylvania Spring Garden College in Philadelphia, and an M.B.A. in Management
from San Diego State University.
Mr. Yubas
is a professional member of Inventors Forum, Licensing Executives Society, and
Product Development & Management Association.
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