Amplified Impact w/ Anthony Vicino
How To Create A Product People Will Actually Buy | Ep. 793
Feb 27, 2025
The discussion highlights the critical trade-offs businesses make between speed, price, and quality when creating products. A case study showcases a company that mastered the balance of quick delivery and affordable pricing while maintaining competitive edge. Listeners gain insights into strategic positioning, making this topic particularly relevant for entrepreneurs and aspiring business owners.
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Quick takeaways
- Balancing speed, price, and quality is essential, as achieving all three is typically not feasible in product development.
- Adapting to market dynamics can lead to success, showcasing the importance of strategic positioning and flexibility in business.
Deep dives
Balancing Speed, Price, and Quality
Business owners must navigate the inherent trade-offs between speed, price, and quality when developing products or services. It is essential to understand that achieving all three simultaneously is generally not feasible; typically, one must choose two out of the three options. For instance, ordering a low-cost item online usually results in slower delivery times and potentially lower quality compared to a more expensive product that ensures expedited shipping and high standards. This balance requires critically assessing the target market and defining brand positioning to determine which aspect to prioritize.
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