For as long as societies have existed, they have been run on the buying and selling of products. Some products are necessary for survival, i.e., clothing and food. Other products are created as a luxury, or to enhance the quality of living for an individual.
None of it is bad. It’s actually very exciting to live in a world where choice and opportunity reign. It allows for a higher standard of life for everyone involved. It puts the power in your hands. If you want to make your life better, do what you have to do to get there. Buy the product, sell the product, wear the product, or live a minimalist lifestyle if it suits you.
The point is, life is a give and take- a balance between ‘necessary’ and ‘would be nice’. The challenge for a person creating a product is to coexist in both categories. Some items are obviously necessary, while others are more suitable to fit in a luxury category.
As a supplier, how do you make a ‘would be nice’ item also a ‘necessary’ item? The answer is multifaceted.
Be Observant and Make What People Want
Sometimes the answer is simply stated, but not so simply done. The trick to having a product that people will buy is by creating a product that people want. Have you ever noticed that a product will come out and if it experiences popularity, what seems like a hundred knockoff brands will come out with a product that is almost exactly the same?
The reason is because somebody found what people wanted, a market was created, and due to supply and demand, other companies want to cash in on the demand to make money. You can operate through knockoffs all you want, but if you’re observant and predict what people want before they want it, you’ll be much better off and most of the time, people will stick with your brand because you’re the original. Not convinced about that, ask someone who knows about long term product success.
Build a Company With Integrity
You might experience a lot of success upon the release and popularity of your product, but if you don’t build products with quality, and operate your business with integrity, you might have trouble keeping customers in the long run.
The first sell is great, but it’s the customers that come back and tell their friends about their favorite product that keep you in business. In all things, treat the customer like a loved one. Strive to give them the best product possible and offer as much help as possible. Be good to them, they’ll be good to you. It’s kind of like the golden rule. Or karma.