HAVING A GREAT PRODUCT ISN'T ENOUGH: YOU NEED MORE! | MARKETING MYTHBUSTERS #smallbusiness

Simply having a great product is no longer enough anymore. 20 or 30 years ago, it wasn't uncommon for products that you bought, especially if they were electronics, to arrive DOA, which meant dead on arrival. Today, it's unimaginable to think that a brand new TV that you just bought wouldn't work when you got it home. Electronics, cars, software, they just all work great. And that includes what your competitors are making. It's tough to buy a truly bad product. Sure, you need a great product to win, but on its own, a great product is no longer enough. It's just the ticket to entry. It's table stakes. In mature markets, it's hard to have an objectively demonstrably better product. If you compete on features, you've only got a small window of opportunity before everybody else catches up. A great product is only enough to get you through the door. You need to win the customer over on other things if you're going to succeed.