Key question right?
As a Product Manager-you are about to propose a new product
to the management & are thinking of a concept based on your latest market
visit-where you have found out that there is a need gap wrt what is being
offered in the market & what customer needs.
Still the question remains-even if you propose the new
concept which is sounding very attractive & viable-how will it differ from
other products-currently being offered & likely to be launched in future?
Few parameters which can make your product different than
others:
1
1) Significantly
higher performance w.r.t. most important parameters / needs in customer’s mind
Honda City-declared mileage 26 kmpl
while other similar cars offer not more than 20~22 kmpl
2) Significantly
better specifications
3 GB RAM while others offer 1/2 GB
3) Significantly
lower price
Micromax mobiles
4) Significantly
better service & warranty
Maruti Suzuki -3136 service
stations across 1500 cities
5) Significantly
better life/durability
Lava mobile phone-Drop Test
6) Significantly
better convenience in using the product
Apple iPhone
7) Customization
as per customer need
Dell Laptops & Ad Personam option for select
models of Lamborghini Cars
Or a
combination of any of above factors
And anyone of these you choose-has to be your organization
& people’s strong capability-develop if not!!!
