Saturday, December 05, 2009

Better Product = Market Leadership?

Split right down the middle. I am talking about the first poll I conducted on this blog. The question asked was
"Does having the best product ensure market leadership?". Fifty percent of the voters agree, while the other half disagree. I belong to the latter category.

Now, I am not saying that having a good product is not important and that it does not help. It does, surely. But It takes more than just having the perfect product to gain market leadership. Sales and Marketing for example, Distribution reach is other, Price is equally important. And, sometimes it is something purely superficial such as color etc

Internet based markets are democratizing some of these effects. But product managers would do good to take some of the other considerations in to account and not fall into the hype of their own products

PS: More importantly how do you conclude a product is better.  For whom. Humans are (some economists may diagree) not completely rational. I wonder if it is sometimes "Arbit' and more importantly "Is it Luck". Which brings me to the next poll?  How important is luck to business success?

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