Part 2 : Differentiating The Product- Pura Botanica

By Ternary Triangle 6 years ago
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The process of launching a product is complicated by the amount of competition. The free market is a beautiful system and to succeed, you need to be different. You may think your idea is the next best thing. However, chances are that someone else had the idea before. It is up to your company to determine how your product or service is unique, what the benefits are of using your brand versus the others, if it should be locally sourced, and what distinct features your product has that the competition does not.

The techniques used to associate your company with your product or service and how that shows, versus the other companies out there, is critical to the differentiation of your product or service. This is accomplished in many ways. Celebrities that show interest in your product or service can be asked to endorse it. Famous artists can be asked to help design it, or its packaging. Actors and athletes can endorse the idea as well, and you can even implement your family (or company) history!

The other half of differentiating your idea that many companies fail to recognize,is in the consumer. The target market of the new product or service is equally as important as the product itself. Even if the single most amazing product came out next week for a given market, if there is little to no one in that market your product could fail. The current reputation of your company can make a big difference in the launching of a new service; if no one trusts your company, what can be done? It is best to initially focus on your friends, family, and colleague’s reactions to your product or service. This way you can save money and publicize your concept.

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 Ternary Triangle

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