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Benefit Buffet Fallicy
14.04.2016
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When launching a product (especially when you are a small startup), there is a common mistake that most everyone makes the first time around: benefit inflation. The problem arrises when someone thinks of a small change that could be made to the product that might appeal to a particular group of users. As they add more and more features/benefits, the hope is that the product will appeal to a larger and larger audience and better justify its price point. The reality is that additional features/benefits do the opposite: they restrict your market and reduce the perceived value of an otherwise good product. To explain how this happens and how to avoid it, we will make a few mind experiments: Read more…