Page 64 - Duct Tape Marketing

48 Part I: Getting Started in Marketing

ߜ Can you make and market it? Do you have the people and cash
resources to back it? Can you get it to market? Is it easily feasible for
success?

ߜ Can you find a unique niche in the marketplace for it? The topic of
positioning and branding products is a chapter unto itself, so turn to
Chapter 7 for more information.

As you study new product ideas, beware of the following:

ߜ Features that don’t inspire your customer
ߜ Features that don’t deliver clear customer benefit
ߜ Product enhancements that don’t add significant product value
ߜ “New” products that are really old products in some newfangled disguise

that means nothing to customers
ߜ Products that don’t fit within your expertise and reputation
ߜ Products that address fads or trends that are already starting to wane

Product line management isn’t about what you’re selling; it’s about what the
market is buying. Keep your focus on your customers — on what they value
not just today, but tomorrow.