Millions of products in the market but not everything sells like hot cakes. There could be many reasons for the sales of these products to not happen
- Bad Marketing
- Bad Product
- Bad Distribution
- Bad Positioning
- Wrong Market
- Wrong TG
And the list can go on and on......
But there are certain brands where people await the launch of new products, stand in long ques or book the product well in advance to get their hands on the same. Companies or brands like Apple, Harley Davidson, Ikea, WV Beetle, etc are not just known for the latest offering but most people can remember what they started with and what is their current offering. Now think the same about say for e.g. a Samsung who is competing with Apple for the best smart phone, what was the first product they launched, some of us would know but a lot of consumers will not be aware of their first product.
One thing the emerges common among most cult brands is that they have a product which is just awesome. Everything that is put in the product has a purpose and more importantly that same purpose is something that the consumer also relates to and finds its beneficial. Their products are so well made that just a PR leak of they are coming up with a new variant is enough to generate tremendous buzz in the market.
So I guess for me the learning is that if you wanna create a brand / product line which yields revenue over a longer run invest in the product do not leave behind anything to ensure that its the best in class product. Yes there are pressures on budget and this may sound idealistic but ultimately in the market the brand / product pays the price for not being the best. All the other elements like the distribution, marketing mix, etc can be played around but once a product fails its really difficult to make it a success.
Often hear from people that these bigger organizations have lots of money to waste on R&D and MR but ultimately that same research helps to narrow down the likely list of successful products rather than launching products and failing in market.
Often hear from people that these bigger organizations have lots of money to waste on R&D and MR but ultimately that same research helps to narrow down the likely list of successful products rather than launching products and failing in market.

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