Some people think that the only way to have success in business is to have a unique product. What factors, do you think, influence the success of a company?

Few Individuals have the opinion that only products which have unique features can sustain and generate positive cash flow for the
company
. In the impending ,essay I will discuss factors which can influence the success of a
product
in the
market
which eventually results in the success of the
company
. The major factor for the success of a
company
depends on the
product
which solves the problem of a large section of society . Where people genuinely require a
product
which will be in great demand from customers . In India, to cite an example , Maney transfers depended on bank procedures .banks have a monopoly in the money transfer segment. ,
However
Add the comma(s)
,However
show examples
companies like Paytm, google pay have developed technology to transfer money to anyone on mobile that too from small denominations to high denominations has paved the way for smooth money transfer .
Furthermore
to launch a winning
product
in the
market
company
should have an accurate
market
research report on consumer preferences and behaviour . On the basis of that companies can figure out what will be unique and can gain sufficient
market
share to generate profits in the near to mid-term. To illustrate, Soap maker like dove has only one
product
which caters to ladies' skin care , because of their uniqueness. It can be launched universally .
To conclude
, Unique features or unique selling points can lead to higher sales . launching products with successful selling points is depend on consumer preference and their liking. production should have features that can address consumers' needs.
Submitted by yash334 on

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