Business owners must consider all the variables whenever a new product or service is introduced. These can include price, cost, marketing, and customer response, and any one of them may spell the difference between success and failure. As Apple introduces another series of tweaked and new products, we look at some of the factors that separate the winners from the losers.
This Just In
We’ll do you one better. Apple is expected to announce an improved version of its full-sized, 9.7-inch Retina display iPad, just half a year after the company’s third generation iPad was released. The device is expected to be announced at a media event this week. It’s an example of tweaking a product to get it just right, rather than a complete revamp, and will be offered at the same price. 9 to 5 Mac
Downsizing. Meanwhile new details have emerged on a rumored 7.85-inch iPad, dubbed the “iPad mini,” also expected to be unveiled at this week’s media event. The smaller device could retail for about $299 according to analysts, making it, like its big brother, the iPad, among the company’s lower profit margin devices as compared to other, high profit margin mobile products like the iPhone. Apple Insider
Lessons from Zuckerberg. There are thousands of successful entrepreneurs who have advice about how to create better products and services. Facebook CEO Mark Zuckerberg, for example, advises businesses to listen to their customers both qualitatively and quantitatively before developing their next offerings. Tech Crunch
One bad experience. Failing to listen can have other unfortunate consequences. For example, one bad customer experience, like the one described here by blogger Jeff Yablong about customer service at Virgin America, can easily gain traction. If that negative experience is shared in the right context and spreads to enough other customers, the results could be serious. The Answer Guy
The Marketing Part
Selling margarita pizza. Marketing CEO and blogger Gee Ranasinha insists that the successful marketing of a product must start with the product itself. For example, starting with a boring product that is already very popular may be a bad idea since there’s most likely someone already providing that product. Maybe it’s time to find something a bit more unusual to sell. Kexino
The keys to success. Business success goes far beyond the products themselves. Issues like your brand, profit margin, and company culture also come into the mix. Don’t forget the importance of all three when developing your products and your marketing plan. Customers take all of them into consideration when choosing whether to buy from you, says digital marketing consultant Brad Smith. Social Media Today
Two simple things. When using social media, or any other marketing channel, for that matter, finding the best way to communicate with your customers and measuring that interaction have become best practices. Susan Oakes shares this post about considering both issues when creating your marketing plan. M4B Marketing
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