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December 2018

    Most Important Consumer Product Characteristics - What is a Product?

    It is critical for businesses to make sure that they have good services and products to market. Obviously only then, they will be able to make their target audience purchase from them and eventually earn profits. 
    In order to develop products that provide value to consumers, it is important to understand the key consumer product characteristics. What are the criteria to think of when designing a new product? In the following, we will take a brief look at the most important consumer product characteristics.

    Key Consumer Product Characteristics 

    Understanding the most important consumer product characteristics is key to providing superior consumer value.

    These characteristics include the following points: 

    1. Physical Look: What does the product look like? One needs to be able to describe the product in terms of its physical criteria, including color, shape and size, in as much detail as possible. Obviously, this criterion must be altered depending on the product, and may only partly be applicable to services.

    2. Purpose: What is the purpose of the product, and what will it do? This should be as specific as possible because a potential consumer will need to know how the product adds value. In what way does this particular product make the life of the consumer easier, more fun, …?

    3. Craftsmanship: The product needs to be made well. It should be durable so that it will last. It should come with directions for use and warranty information, if applicable. A consumer will need this information to determine the total quality of the product.

    4. Price: The price of a product is very important. A consumer wants to get the very most for their money. A business needs to make sure that the price is fair if they want to get their share of the market. Once they figure out a decent price, they can work with sales, promotions and discounts in order to entice customers to buy from them. 

    5. Comparing criteria: A business should be able to tell their potential customers why their product is the best. It should try to find out as much as possible about competitors and be able to state clearly why the particular product is better than competitors’ offerings. This step is of crucial importance in order to shape the USP and communicate the superior value to consumers.

    Hiring Help for Shaping Consumer Product Characteristics 

    Sometimes, a business may need assistance in knowing how to describe and market the product. There are companies that specialise in helping businesses determine their consumer product characteristics.

    Having clearly defined consumer product characteristics for every single product is key to success in the marketplace. A business must know its own product in as much detail as possible from different angles. Likewise, it should know as much as possible about competing products in the marketplace. With good positioning and marketing, the business can communicate superior consumer value and reach more consumers.

    28th December 2018
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