Since this blog was started everything(ok, only 2 posts :) ) is Google.So don't think it's going on the lines of my other blog Googlinx.To prove my point now I am going to post one of my self created theories-PANORAMA.PANORAMA is what determines a product's success in the industry.PANORAMA stands for
P - Popularity
A - Advertising
N - Need
O - Onliness
R - Rate
A - Availability
M - Marking
A - Appearence
Popularity:
This point corresponds to not the reach to the people but to the talk among them. That means it depends on what do the people think about your product,how good do they rate it.
Advertising:
One of the very important factor in the success of the product,this decides the reach to the customers.So this factor corresponds to the amount of advertisement the product has got-it migh be directly from the manufacturing company,or by reviewers or by some controversories .
Need:
As you know,no one will purchase a product just because it's very nice one or it has a great popularity,they buy it because they "need" it.That's why this factor has made its place in the success of a product.
Onliness:
Onliness or uniqueness of a product will also contribute to the success of a product.If your product is unique in its own way,then it might have a chance to win over other.If not, how would buying your product or a competitor's affect the customer?
Rate:
Rate corresponds to the cost of your product compared to the other similar products in the field.So to make your product success you should sell at a cheaper cost and to sell it at cheaper cost you should check out your manufacturing processes(yeah,I need not tell that).
Availability:
The availability of your product also makes an impact on the success.Do you like to buy a soap in your street or in the other part of town?So you have to make it as easily available as it can be.This factor will be a very crucial one when it comes to FMCG products.
Marking:
Dictionary meaning of this term turns out to be "evaluation of performance by assigning a grade or score" .So for your product to be success it means it should be marked well.It could be marked well when it's of high quality.So this factor corresponds directly to the quality of the product.
Appearence:
You may think it might not be a major factor in all products.But whatever your product may be - may it be an FMCG or a service delivered or an automotive ,this factor is very important.By appearence it doesn't only mean that it should be good looking.It means that the product should also be good in terms of usability nd deliverability.
Though it may not be always possible to have all the PANORAMA in your product,but the amount of it you have is what determines the success of your product.
P - Popularity
A - Advertising
N - Need
O - Onliness
R - Rate
A - Availability
M - Marking
A - Appearence
Popularity:
This point corresponds to not the reach to the people but to the talk among them. That means it depends on what do the people think about your product,how good do they rate it.
Advertising:
One of the very important factor in the success of the product,this decides the reach to the customers.So this factor corresponds to the amount of advertisement the product has got-it migh be directly from the manufacturing company,or by reviewers or by some controversories .
Need:
As you know,no one will purchase a product just because it's very nice one or it has a great popularity,they buy it because they "need" it.That's why this factor has made its place in the success of a product.
Onliness:
Onliness or uniqueness of a product will also contribute to the success of a product.If your product is unique in its own way,then it might have a chance to win over other.If not, how would buying your product or a competitor's affect the customer?
Rate:
Rate corresponds to the cost of your product compared to the other similar products in the field.So to make your product success you should sell at a cheaper cost and to sell it at cheaper cost you should check out your manufacturing processes(yeah,I need not tell that).
Availability:
The availability of your product also makes an impact on the success.Do you like to buy a soap in your street or in the other part of town?So you have to make it as easily available as it can be.This factor will be a very crucial one when it comes to FMCG products.
Marking:
Dictionary meaning of this term turns out to be "evaluation of performance by assigning a grade or score" .So for your product to be success it means it should be marked well.It could be marked well when it's of high quality.So this factor corresponds directly to the quality of the product.
Appearence:
You may think it might not be a major factor in all products.But whatever your product may be - may it be an FMCG or a service delivered or an automotive ,this factor is very important.By appearence it doesn't only mean that it should be good looking.It means that the product should also be good in terms of usability nd deliverability.
Though it may not be always possible to have all the PANORAMA in your product,but the amount of it you have is what determines the success of your product.
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