“A market is never saturated with a good product, but it is very quickly saturated with a bad one”.
Henry Ford never said anything wiser. But essentially what is a good product or a bad product.
Technically a product may be great, but it may not meet the requirements of its target segment. Understanding the gap which no products available in the market is fulfilling is one short yet simple strategy to create a good product, and more importantly, a successful brand.
So how should companies go about it? Consumer focused market research is the only solution. So how to go about the same?
- First do an exploratory study to gauge the needs which your target segment may be facing which are yet to be met with.
- Then do an internal analysis to match the firm competencies vis-a-vis the gap faced by the target segment, to propose few product types with hypothetical specifications.
- Do a in-depth interview to review if the proposed product types meet the needs of the segment, or if at all, they are needed. Many products fail because they do not address any market needs.
- Do a conjoint analysis and/or a factor analysis to determine specifically what is required by the target segment.
- Go back to verify if the same matches with the internal competencies of the firm, and do a feasibility study for the proposed project.
Check out what Google has to offer now along with its core offerings in email. Google is planning a launch of its priority inbox, where, each user will mark mails as being more important and less important. Based on the priorities of individual users, obtained from feedback and text analysis of the mails more viewed by the same, incoming emails will be prioritized.
And intelligence ensures that users don’t need to set up rules to make the sorting happen. The feature takes its cues from things like who users e-mail the most and what messages are open and replied to rather than being skipped over.
Priority Inbox is scheduled to be rolled out to all Gmail users over the next week or so. Users just have to look for the “New! Priority Inbox” link in the top right corner of their Gmail account.
HP-Palm has become the hype that the mobile computing world could have done without. Is it really worth the hype? Will this $1.2 billion deal create waves in the already competitive market?
Hewlett Packard, the world leader in laptops (in terms of sales) has its own series of PDAs, less popularly known to the common man. The I-PAQ PDAs sold by HP does not rank among the top 10 PDA brands in terms of sales. With the focus shifting towards handheld computing devices, this may have been a desperate move by HP to claim its place in the competitive industry dominated by the likes of Blackberry, Apple, HTC, Nokia and O2. Continue reading “Does the HP-Palm move make sense?”
Need can either be recognized or generated. Most utility-based products like refrigerators, washing-machines, cars, etc. were introduced to the market because the manufacturers felt that there was a need for such products in the market. Refrigeration, cleaning and transport were far inferior before these products were launched, and post-introduction, they were easily accepted by the society. Continue reading “The art of need recognition for product conceptualization”
The technical team or the product development team has come up with a ground breaking product. The technology can have a deep impact on the customer. The technical team knows it, and so does the customer. The contract for a long term engagement is about to hit off, and then the customer asks how much will this technology cost his pockets? In this competitive world, the technology developers do want the best price for the technology, but at the same time, they really do not know what the best price is to which your customer will give the green signal for a long term engagement. So how does one price an IT product? Continue reading “How to price IT products in 7 steps?”
Google conducted the press conference for presenting the launch of Gmail Buzz in Mountain View, California headquarters Tuesday morning. Google is more focused than ever to make Gmail even more sociable by adding Twitter and Facebook updates, besides the latest Google Buzz. Because of the increasing popularity of Twitter and Facebook as a medium for communication, if Gmail incorporates this features, it is expected to increase the market-share of Gmail even more. Continue reading “5 Reasons why you will love Google Buzz”
Beowolf cluster: Supercomputers for the poor.
The demand for faster calculations can’t be met by only relying on the speed increase resulting from advances in computer technology as high end super computers are that much costly. One of the solutions to this problem for ‘not-so-deep-pockets’ is the distribution of the numerical tasks to a set of machines. So how to provide supercomputer capabilities cheaply? The answer is Beowolf Clusters. This process is called parallelization because the computers complete their tasks in parallel instead of the traditional step‐by‐step (serial) execution. As computer codes have been updated to use this new paradigm, the demand for parallel computers has grown. In general, such computers need to have: Continue reading “Beowolf Clusters: Cheap supercomputers for poorer pockets”
Amidst a lot of hype as always, today 27th January, 2010, Apple launches the I-Pad. While it is being viewed as the product that will rejuvenate Apple’s revenues for years to come, a question many staunch Apple fans (and those who are not fans of course) will ask, is it really worth the hype? Apple has always created a market even when there is none. Will it be successful yet again this time?
Continue reading “7 reasons why Apple’s I-Pad may fail.”
Many of us still maybe using older PCs and laptops and may have faced regular problems with the processing speed of the machine. We can follow these very basic yet effective 12 steps to speed up our machine. The benefits are simply awesome for slight investments of effort on maintainance of your machine.
Many of us still maybe using older PCs and laptops and may have faced regular problems with the processing speed of the machine. We can follow these very basic yet effective steps to speed up our machine. Continue reading “12 simple ways to speed up windows”