How Great is Your Product?

February 18, 2008 by Rich | 1 Comment
In Sales, Startup, Value


PowerHomeBiz Small & Home Business Blog:

Ryan Allis, CEO of the marketing and online communications firm iContact Corp., in his book “Zero to One Million: How I Built a Company to 1 Million in Sales … And How You Can, Too” has a great section on what makes a product great.

According to Allis, the perfect product has the following attributes:

  • It fulfills a need or want
  • It has either niche market appeal or mass market appeal
  • It has at least a 2:1 markup ratio; 5:1 or higher is optimal
  • It has a high perceived value
  • It must be replenished or repurchased by the consumer often
  • It is easily up sold and cross-sold
  • It has a related backend product

So how do you know if your product is great?

Read more.

Photo by McGraw-Hill.

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