Investigate what makes for a successful company that can make a product that is instantly bought by you, the consumer?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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There are a number of things that make for a company that can do this.  Let us examine three of the most important of these things.

First, the company must be creative.  To think of what this means, think about a company like Apple.  This is a company that employs people who can come up with really innovative new things that people will want.  They have consistently managed to come up with new things like iPods and iPads that people wanted.  For a company to make a product that I buy instantly, they have to be creative enough to make things that will seem really attractive to me.

Second, the company must be at least somewhat efficient.  It needs to be able to make the product that it has created efficiently enough so that the price will be low.  Even if Apple was creative enough to come up with the iPad, I would not have wanted to buy one if it cost $1,500.  So, the firm needs to be able to keep its costs low so that it can sell at a price point that is attractive to me as a consumer.  It also needs to be efficient enough to make the product be of high quality.  It is no use having a great idea if your engineers are not good enough to make that idea into a real product that works well.

Third, the company must do well at marketing its products.  In order for me to buy the product “immediately,” I need to know about it.  I need to be made aware of the product before it comes out for sale.  The firm has to create a marketing campaign that will make me think that their product is something I really want.  If they do not market well, they will not accomplish this.

So, in order for a firm to get me to buy its product immediately, it must be creative enough to conceive a great product, efficient enough to make the idea into a high quality product at an attractive price, and adept enough at marketing to make me want the product before it hits the market.

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