Recently, I saw a Nepali candy called XS candy, a product of Kwality confectionery, totally failing in the Nepali Market.
What is value?
A product exists to give value to a customer. If a product isn’t able to give some value, the product might not be successful in gaining attention. According to (Schneider & Hall, 2011) has listed 5 flaws for the product failures, which are as follows
Flaw 1: The company can’t support fast growth: The company cannot meet the market demand at the desired quality
Flaw 2: The product falls short of claims and gets bashed: The product is over-hyped and under-performance.
Flaw 3: The new item exists in “product limbo.”: Testing the segment of market of the product before launching.
Flaw 4: The product defines a new category and requires substantial consumer education—but doesn’t get it: The product is new and technologically different so as the user needs to learn to operate it
Flaw 5: The product is revolutionary, but there’s no market for it :
XS candy was a qualitative product of Kwality Group, which though produces low quality products and mostly targets the rural market. At first, the product was qualitative, giving taste of world class candies with an average packaging. Later the company couldn’t deliver the same quality candy and the packing wasn’t good too.
I think the product fits into Flaw-3. The product was high quality chocolate but targeted the same market segment that they used to focus. I would have repacked the chocolate into a good package. On next, I would have positioned it as high class chocolates. Thirdly, I would have focused to the school by giving them to the students to taste the product.
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Recently, I saw a Nepali candy called XS candy, a product of Kwality confectionery, totally failing in the Nepali Market.
What is value?
A product exists to give value to a customer. If a product isn’t able to give some value, the product might not be successful in gaining attention. According to (Schneider & Hall, 2011) has listed 5 flaws for the product failures, which are as follows
Flaw 1: The company can’t support fast growth: The company cannot meet the market demand at the desired quality
Flaw 2: The product falls short of claims and gets bashed: The product is over-hyped and under-performance.
Flaw 3: The new item exists in “product limbo.”: Testing the segment of market of the product before launching.
Flaw 4: The product defines a new category and requires substantial consumer education—but doesn’t get it: The product is new and technologically different so as the user needs to learn to operate it
Flaw 5: The product is revolutionary, but there’s no market for it :
XS candy was a qualitative product of Kwality Group, which though produces low quality products and mostly targets the rural market. At first, the product was qualitative, giving taste of world class candies with an average packaging. Later the company couldn’t deliver the same quality candy and the packing wasn’t good too.
I think the product fits into Flaw-3. The product was high quality chocolate but targeted the same market segment that they used to focus. I would have repacked the chocolate into a good package. On next, I would have positioned it as high class chocolates. Thirdly, I would have focused to the school by giving them to the students to taste the product.