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Dennis Thorgesen
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Dennis Thorgesen   My Press Releases

Building your brand; choosing the right product

Published on 5/19/2013
For additional information  Click Here

What your brand is looking for is building your business future based on the right product.

So what is a right product?

These are the characteristics you are looking for;

Mass appeal

This can be appeal within a very large niche or wanted by people in more than one niche.

A more exceptional product is better.

You want it to grab the attention of the people to whom it is presented.

Demand

This can be a demand your marketing creates or a real demand by the audience. A demand you create is going to take longer. It can pay off well in the long run as has been the case with Subaru®.

Marketing

 

Their marketing campaign “Love your Subaru” has served them well. They use their brand design in ways their competition doesn't which also makes a difference.

Avoid Me-too

The amazing thing is Subaru has been able to do this in a “me-too” niche with plenty of completion. This is something which is not something normally recommended. If you can buy a very similar product cheaper it is probably not a good idea for your product.

Postioning

One thing Subaru did right is position their company in a sub niche where they have less competition.

Passion

When you are passionate about your product you are more willing to do what it takes to bring it to market. When minor setbacks happen you won’t be shelving the product. With a passion based product it is simpler to find buyers because your passion shows.

Example

When possible we like using examples Kenguru® This is a good example even though in this case Stacy Zoern has spent over two years bringing her company’s product to market. As these things go the company’s product is in a real sub niche.

Somewhere recently these words came up

“I gotta get me one of those.” Someone told me this was a famous line spoken by Will Smith. This is how those who have a need for her product feel about it.

Target market

A little less than one percent of the world population has a need for her company’s product. At the moment this is estimated at 67 million people. In the next 15 years or so the need will continue to increase, at that time it should start declining.

Price point

At the price Kenguru has set their only competition are used modified vehicles. Unless you are buying a totaled vehicle you are not going to find an all-electric powered unit for anywhere near what they are asking.

A great product won’t require hype

It can be described simply and people will still want it. People, who have a need, and spend time watching a short video showing how it works, want it. What they gain (freedom) makes it a worthwhile purchase. It has no direct competition.

Fill a specific need

Most people in wheelchairs are dependent on friends or family even for simple things like having food to eat. Always having to have friends over and not being able to visit them at their house can make a person feel a little unequal. Depending on one friend to visit another doesn’t always work if they aren't in the same circle.

Ability to modify to meet other needs

This we see as a big plus for this vehicle. They can add what we consider simple changes enlarge the audience. A joystick control system and enough room to load a power wheelchair fill yet another niche.

Making it larger

Given enough space to carry another person or added reachable storage space increases its audience even more.

Choosing your product

As you are building your brand choosing the right product for your business can be simple if you follow the guidelines brought forth here. In most cases you won’t want to spend over two years bringing your product to market. If you have the right product though spending this much time is well worth it. ©May 16, 2013 9:45 AM CDT Dennis Thorgesen for Lisech eMarketing, All rights reserved.

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