There are products that are the core of a solution which will get most of the attention and interest during the purchase process.
There are products or appliances that are an important part but getting hardly any interest in the purchase decision as they have become mainstream.
It is like the refrigerator when buying a new kitchen where interest goes to the furniture and complex appliances but not to the fridge. People assume the refrigerator will do its’ job of cooling and freezing. They expect nothing outstanding from the refrigerator. Still the fridge is an important appliance in the kitchen not only because of keeping the food fresh, but also for the non-existence of the possible noise the motor and pump can produce.
How to diversify?
If your solution is like the fridge as part of a larger solution then you have 4four options for differentiation:
- Price: stand out by a low price given a certain quality
- High quality: stand out with a high quality claim (long lasting, low power consumption, …)
- Design: stand out by great design (which can be copied within months by competitors)
- Brand name: have the brand name support the perceived differentiation and quality.
This is because adding features or benefits will not make the difference as they will hardly be noticed or understood by the decision makers.
Your product has, just like the fridge, a certain perceived and expected functionality or service but nothing exceptional. Trying to change this would be an uphill battle, costing too much money for this product in a market with common and mainstream products as the perceived functionality, value and benefits will kill your efforts.
Forget disruptive products
Even if you would have a disruptive new concept it would cost you development, marketing and sales time, money and efforts to present, promote and sell your new product. Just compare with the hurdles James Dyson had to overcome and survive with his bagless vacuum cleaner.
Forget about disruptive products or solutions as they can kill/ruin your company (bankruptcy)
Are your products like the fridge in the new kitchen ?