Some people think that the only way to be successful in business is to have a unique product. Discuss if you agree or disagree.

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Business is all about dealing with products which eases up the daily task of end customers and I believe in
this
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competitive world there are numerous products which are already in the
market
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and are uniquely but not successful.
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Firstly in
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Firstly, in
this
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essay we will be taking a look at how numerous and newer businesses are already
in
Suggestion
on
display, dealing with the same products and are achieving quite heights and
secondly
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will talk about some examples where companies have launched a unique product but failed as it was not easily adaptable. Currently in the
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market there
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market, there
are examples of various companies like “Uber” & “Lyft” both are in the same business and are successful I.e. Cab service. They stand apart each other by offering different services
such
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as ride sharing & various other modes of travelling which is helping their survival and separate customer base. Another example, could be various supermarkets which are selling day-to-day household products
such
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as “ Walmart” and “Costco” which are having almost the same products in their stores and both are
market
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leaders today because of their offering services & discounts. I would like to mention about companies which were unique enough
,
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,
but could not survive in Business for long.
First
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classic example would be of “Orkut” when they came into
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market they
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the market, they
the market they
were only social media service and people using it didn’t understand it quite well and they were kicked out of
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market
Suggestion
the market
easily. Another example is “Rental Cars” when they were launched they had a successful
market
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with almost no competitors & they
also
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had various rental options, later on they didn’t give much preference to customers and just focusing on their earning & revenues which decreased their customer base and
finally
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lead to closure. To conclude
further
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I would disagree that only developing unique product helps in getting Business success. It's about how the product is easily adaptable & company keeps innovating it more which helps their survival in
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market
Suggestion
the market
for
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in
the long run.
Submitted by girish.watwani2008 on

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