The 4 Criteria of a Good Product
The 4 Criteria of a Good Product
1. Big Market Potential To ensure success, it's crucial to choose products that cater to a large and expanding market. Products with big market potential have a higher likelihood of attracting a significant customer base, leading to increased sales and growth opportunities.
2. Good Demand Selecting a product with strong demand means there are already customers actively searching for it. High demand indicates that your product is more likely to sell quickly, reducing the time and effort needed to generate interest and drive purchases.
3. Can Differentiate Standing out in a crowded market is essential. By choosing a product that you can differentiate from competitors, whether through unique features, superior quality, or innovative marketing, you can carve out a niche and attract loyal customers.
4. High-Profit Potential Profit potential is a key factor in determining a good product. Products with high-profit margins allow you to earn more from each sale, providing better returns on your investment and enabling sustainable business growth.