The PRODUCT

When you do the business, you must be very clear about the PRODUCT that you are going to sell to the Customers. Here is some information that might help you to understand it.:


1. If you are manufacturing something :

-The Product is the physical item (the outcome) from the Factory


2. If your Business is providing Services :

-The Product is that "Service" you are providing


3. If you are into Profession (one many army) delivering the Services yourself :

-Here "You" yourself are the Product


One of the reason for Business Failure:

Founders or Business Owners often FAILS to understand that offering a Product/Service for FREE does not VALIDATE a product/service.


Offering a product/service for FREE often delays the Validation.

Customer Behavior is EXCEPTIONALLY DIFFERENT in both FREE and the PAID cases.

As soon as you put a Pricetag on a product, you'll see how acceptable it is in the market.

Because Nobody want to spend even a dime on something that isn't worth of it.


No matter how good your Sales & Marketing strategies are, if your Product is not up to the Mark, all of the money invested in Sales & Marketing is just a waste.

Author:

Lakshman Singh


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