Okay, perhaps forever is an exaggeration or too long a time for most products to last. But, it’s somewhat an obsession for a product manager or founder that their product should last as long as possible and rake in the kind of profits/rewards they built it. This is what occupies him/her, sometimes ravaging the mind and giving a restless.
Over time we’ve looked at Products that have lasted or stayed in the market for a very long time and these are our deductions:
Products that Solve a Problem/Scratch an Itch
If your product is solving a problem that is dear to your heart, chances are high that it is scratching the itch of a whole lot of people too. Contrary to what we may think, there is a commonality to problems no matter how niched or small you think the problem is, there are most likely several people experiencing the same issues that you are experiencing. So, if your product is solving or catering for a need, you are in the right spot.
Products that have Found a Way to be Lifestyle Inclined
Some of the products that have stayed so long in their industries are products that have winged their way into the Lifestyle section. They have found a way to make themselves the ‘you can’t do without me’ product. This basically means they have become so infused into our lives, we can’t seem to live without them, the same way we can’t live without buying and eating food, buying and using toiletries, buying and wearing good clothes. Lifestyle products are products that intuitively seem to say “we’ve come here to invade your life in the most non-encroaching way possible.”
Products that are Friendly
A good product is friendly and understands what it means to be social and usable. A good product understands media – the power of media, the way it can be wielded, the pros and cons of it and social part of it. Basically, people love the product and perhaps the creators of the product as well. This ‘friendly-association’ people have with the product will make it last for a long time.
Products Whose Distribution Channel have Been Perfectly hacked
If you have a fantastic product but can’t seem to be reached by user or prospects, you already have a problem. Distribution is very vital to product development – online or offline distribution, it is essential that availability be built into your product tactics.