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Post by dipanjali1 on Nov 8, 2013 20:27:27 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
No business can be successful without sustainable competitive advantage. Marketing definitely helps to increase the sales but it is not a silver bullet. If your product does not add value to customer, your brand is bound to fail. A good product don't need huge marketing budget. Word of mouth can be a great marketing tool which don't cost the company any money. In early 2000 Blackberry was the best product in the market for corporate people. Due to its quality, it became popular fairly quick in corporate world through word of mouth. Unlike Blackberry, in mid 80's coke came up with new product "new coke", with huge marketing campaign, but product was a failure and was removed from the market. The reason, quality was not up to par. Hence, the conclusion, marketing doesn't decide the fate of the product, quality does.
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Post by katiebourgeois on Nov 9, 2013 15:56:04 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
For any business I think it is important to be sure you perfect your product before you market. In today's world it is easier to focus on perfecting your product without marketing it because consumers are spreading the word about your product for you. Like Hunt said, "let your customers get the word out about what you're doing." It will save your business money from advertising expenses and gives you the opportunity to spend that money to perfect your product. In today's world I believe it is important to spend extra time perfecting your product because it is easy for customers to get the same product from another company.
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Post by tyancey on Nov 9, 2013 16:22:35 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
I agree with this article. Sometimes it is easy to get carried away and try to rush products out the door. However, it is important to remember to not rush into things when it comes to your business. Instead, you should take your time and make sure that the product is perfect before shipping it off to customers. If your product has flaws and you are selling it to customers, then it is only a matter of time till the complaints start coming in. As a result, it could harm your business because people will not trust your products. Instead, business men and women should focus on a product and make sure that it is perfect before selling it to customers. This will gain their trust and their loyalty.
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Post by Holland Bussell on Nov 9, 2013 21:24:31 GMT -6
What this article is implying, is that no matter how much you can hype up a product it would be in your best interest to not do so before it's fully functioning. What good would all the marketing be if you have a product that isn't performing to its requirements? Nobody would want that and would instead begin to negatively impact your company and product. Instead if you wait until everything is properly working you would gain positive feedback for the company.
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Post by zekesonnier on Nov 9, 2013 23:16:26 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
Nicely said by Hunt. Building a brand takes a good amount of time. Diminishing it takes even less time. Trying to gain it back typically is very hard. That is what Hunt was trying to say. In addition, companies should not over exaggerate their product making expectations that it can not reach. This will put them trying to build their brand from a disadvantage. A company will get their name out there from the products and users of their products, advertising is only one step, just the bait.
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Post by w0415498 on Nov 9, 2013 23:42:36 GMT -6
Yes getting your name out there is important, but making your product great is more important. What if your name is out there but yoou product is not at it's best? that will make you look bad. So it's best to make sure everything is good with your product first before you worry about your name.
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Post by sbardwell on Nov 10, 2013 8:12:58 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect A fine balance must be taken here. You want your product out but you want it to be quality. However, if you continue to “perfect” the product then it may never go to market. Another idea is that a lot of good feedback comes from launching the product and seeing how it works in the marketplace. I would suggest launching in a small test market area and working to perfect it from there. Keep in mind that your product needs to be reasonably tested before launch. Once your product is perfected in the test markets you can begin the "hype" and heavy marketing in order to spread the word. You by not means want to send out something that “might” work…. Dare I mention www.healthcare.gov?
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Post by ashleylevernharrison on Nov 10, 2013 17:07:27 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
There are a lot of companies that do this; they market a new product before it is ready to be on the market just to beat the competition to the punch. But the only thing that this does is put another crappy product that doesn't work properly out into the world. If they would have taken the time to develop the product so that it didn't have any flaws, then they would have beaten the competition anyway on quality and not on how fast they could get the product out there.
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Post by wparker on Nov 10, 2013 18:11:38 GMT -6
"Don't hype up your product until it's perfect"
I love this article. I remember the hype about windows vista, way back in the day. Everyone was excited because of all the new features that were going to set it apart from all other operating systems. Then it came out, and that was such a big disappointment. It crashed constantly, the "new and improved" features were horrible and rarely worked, and the memory need to run the OS was ridiculous. Microsoft put more development and thought into marketing and making Vista sound amazing and didn't focus on actually making a good product. Like the article says, if you make a good product, the people will eventually flock to it through word-of-mouth. That was al Microsoft needed to do. Make Vista a good OS and eventually people would buy it. Plus most people think of Windows anyway when it comes to upgrading an operating system.
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Post by danielleolivier on Nov 10, 2013 20:33:33 GMT -6
Marketing is an important tool for companies. Although, a company that has a great product that people love, the product pretty much markets itself. If people love a product, they will review it online, tell their family, tell their friends, and get the word out for the company. In order to get this free form of word of mouth marketing, a company must first make sure their product is the best that it can be before it is put out on the market. A company that puts a product out too early will find that they're spending money on marketing and for research and development costs to improve the product because it was put out too early will too many defects.
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Post by darrell2009 on Nov 10, 2013 20:39:27 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until Its Perfect
I agree in the business world when marketing a product you should let the product speak for itself. If the product is worth having and or buying then word of mouth will eventually bring forth positive results for your sales. Franchises such as Chic fil A tend to let their products speak for them they invest in quality chicken nothing processed and are able to up the prices to receive greater revenues. Word of mouth and also media mention are the number one marking engines in the world today.
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Post by clayb1919 on Nov 10, 2013 22:44:39 GMT -6
Sometimes people focus too much on marketing. Too much marketing isn’t bad but it’s when it takes away from the actual product or service that it becomes a problem. Word of mouth is one of the best marketing tools but when whats being spread becomes negative there needs to be a shift in focus.
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Post by banessau on Nov 10, 2013 23:28:08 GMT -6
Don't Hype Up Your Product Until It's Perfect
Totally agree with this 100 percent! By putting so much out there about a product, consumers will have high expectations. So what if the product is not all that of what it was perceived to be? Dissatisfaction is what occurs. It is plain and simple, don't hype up your product until its perfect. It could not be more clear; actions speak louder than words.
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Post by kselders on Nov 10, 2013 23:46:13 GMT -6
Sure, you're excited about your product and you want others to love it just as much as you do but, make sure all the dots are aligned before marketing your product. It could either help your brand or hurt it instead. After perfecting your product, then get the word out. Word of mouth and social media increase your chances of having your brand recognized in various areas of business. For example, Apple struggled in the beginning and now they're very popular.
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Post by jameciadavis on Nov 11, 2013 1:26:53 GMT -6
INSTANT MBA: Don't Hype Up Your Product Until It's Perfect
It is so easy to become excited when you are trying out a new idea. It is important to not hype it up until it’s perfect, to reduce the risk of getting embarrassed. Focusing too much on getting your name out there can actually detract from your mission to improve your product.
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