A marketable product is one people are genuinely willing to spend money on, which sounds obvious but is routinely missed by products built on an assumed need rather than a validated, real one. Developing one properly means testing this assumption honestly before investing significantly in building it out.
These are the fundamentals of developing a genuinely marketable product.
Start from a genuine, validated problem
The strongest products solve a real, specific problem people already recognise and are actively trying to address, even imperfectly, rather than introducing an entirely new behaviour or need that doesn’t yet exist in the market.
Our guide to how to conduct genuinely useful market research covers validating that this problem is real before investing in a full solution.
Differentiate on something customers genuinely value
A marketable product needs a genuine reason customers choose it over existing alternatives, whether price, quality, convenience or a specific feature, rather than simply being another option in an already crowded space.
Understanding your specific competitors’ actual weaknesses, from genuine customer feedback rather than assumption, often reveals where real differentiation opportunity sits.
Test and iterate before committing significant capital
A minimum viable version, tested with real potential customers, reveals genuine demand and specific feedback far more reliably and cheaply than building a complete, polished product based on internal assumptions alone.
Be genuinely willing to adjust the product based on this real feedback, rather than treating early testing as a formality before proceeding with the original plan regardless of what’s learned.
Price to reflect genuine value, not just cost
Price the product based on the value it genuinely delivers to the customer, not simply cost plus a standard margin, since underpricing a genuinely valuable product leaves money on the table just as overpricing a marginal one loses sales. Any distinctive product design or branding can be protected through the Companies and Intellectual Property Commission.
Our guide to marketing strategies that genuinely work covers communicating this genuine value effectively once the product itself is ready.
Frequently asked questions
What makes a product genuinely marketable?
Solving a real, specific problem people are actively trying to address, validated rather than assumed.
Should a product introduce an entirely new customer behaviour?
Generally riskier. The strongest products address a problem people already recognise, rather than requiring an entirely new behaviour.
What does genuine differentiation require?
A specific reason customers choose it over existing alternatives, based on real customer feedback about competitors’ actual weaknesses.
Should a full product be built before testing demand?
No. A minimum viable version tested with real customers reveals genuine demand more reliably and cheaply than a complete product built on assumption.
How should a marketable product be priced?
Based on the genuine value it delivers to the customer, not simply cost plus a standard margin.
