Episode 3: How does a product become successful?

Thinking of doing business! 

But, you realize that there are already others in the market that offer the same thing. They are your competition!

What are you doing? Do you give up or follow your passion and dream looking for solutions? 

In such an economically developed market, the chances of your idea being completely innovative are slim. But that doesn't mean you can't start your own business.  

You know what I was saying in the last episode? 

Competition is important! But always ask yourself: what sets my product apart of others that already exist in the market?

When you present your product to a potential customer, the value you provide is made up of the actual product and the sum of the elements that differentiate it. 

What this means? 

It means that it is important to highlight, in addition to the product itself, a set of aspects that make it different from the competition: the way of promotion, the relationship with customers, the packaging, the quality and durability, the price, the sustainability, the location of sale or maybe the ingredients used if we remember our lemonade stand!

Here's how he thought about making an entrepreneur who wanted to open a pizzeria:

Continue the discussion with a friend / parent to better understand what it means to find "something different" to help you get noticed by customers.

Here are some questions to guide your conversation:

• What restaurant do you know that differentiates itself through a special relationship with customers?
• What product comes to mind when you think of very good quality?
• But at a special price? What product do you know that differentiates itself with an excellent price in relation to the value offered?

Challenge to direct experience: 

One way you can differentiate yourself from the competition is through the packaging your product has. Remember your lemonade stand and create a packaging that you think would be different and attractive!

Remember, every successful business has something special that makes it unique!

The next episode appears on Friday, May 15, 2020.

#staytuned #do the Challenge #learn at home