You don’t always have to throw an unsuccessful product in the trash. Sometimes, simply making sure your customer sees the value in your product is enough.
For example, that’s what Nestle did. 20 years ago, after a product they came up with did not bring meaningful profits for 10 years, they decided to discontinue said product. However, an employee offered that he could bring the product a new value suggestion. And now, we have the Nespresso; breaking records in sales, and even dethroning Nescafe, the most popular product of Nestle.
Nespresso is the most commonly given example for the value creation process. Meanwhile, it is not the only example. It is possible to achieve many different values and results, depending on the placement of the product.
The second important thing to pay attention is the MVP; the Minimum Viable Product. Which means the product, which is designed and produced in the most cost-efficient way possible, earns approval from the customer. And it is important to use all of the channels of your business to sell the goods or services that your customers will want to spend money on.
We cannot do the same things over and over and expect new results. And we cannot solve problems with the same point of view that created them!
