Keys to a Winning Product
This article from HBS Working Knowledge suggests that the success of new product introductions may be predicted by determing where the product falls in a quadrant with four dimensions:
"The four dimensions fall into two categories, purchase motivators and purchase barriers. The new product has to excel at:
Providing high purchase motivators
A. It must be less expensive than existing products (lower price).
B. It must provide better features than existing products (greater benefits).
Eliminating purchase barriers
A. It must not have any switching or adoption costs (easy to use).
B. It must be readily available (easy to buy).
Customers for whom all four conditions apply will purchase the product or service because there are only benefits and no barriers. The closer any new product comes to succeeding in all four dimensions, the greater the chance that the product will be a winner. And, of course, the innovation will be a financial success if these conditions can be met at a profit."
