Is it wise for a startup to produce similar product to the ones in market?

[Layefa94]

Yes it very possible to venture into what is already in the market, the Truth is there is nothing you want to sell that is not already in sell, your packaging, branding, marketing strategy and quality of your services will make you stand out

 

[Olahab]

One of the biggest problems with viral marketing is that it’s often difficult to tell exactly what the company has to offer.

If you create a video that everyone loves, you might suffer a lack of recognition. A clever video might not necessarily explain your product or even direct viewers to buy.

 

[Zevin]

A start up should try to produce unique products or services. If the products and services are not unique, the start-up may never receive funding and in the lack of funding, the start-up will never become a successful enterprise. In case the start up is producing the products that are already on the market, it should offer better features and quality

 

[Nicklas22]

You can produce similar products but you just have to make your products a little different and cheaper since you're just joining the market to attract more customers and gain more grand
It's just the way you present your product, advertising and marketing

 

[Mazhar Malik]

I hope you enjoy reading this blog post. If you ... startup marketing is a completely different science. ... Before jumping into your startup marketing, make sure you have the following ...

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I hope you enjoy reading this blog post. If you ... startup marketing is a completely different science. ... Before jumping into your startup marketing, make sure you have the following ...

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[Mixi]

There are two methods that we’d recommend for building a business website: using a website builder, or WordPress. The former is suitable for tech beginners, while the latter requires a little coding knowledge.

 

[Oshow]

I asked a mentor in business same question some years back and he asked if I truly want to make it in business.

To be successful in business you need to think of something new. Whatever product you have in mind as an entrepreneur must be new. That is the only way to make it and have fair chance to succeed. An entrepreneur should be ready to compete with the brand or product dominating the market if your brand or product is similar to the ones available in the market. As a startup, the business can’t compete at such level if your output is not backed by economics of scale.

For an entrepreneur to be successful you must be willing to do something new.

What are your views?

Well, let me start by saying this, starting a business with a similar product isn't a bad ideas so far the producer has been able to study the areas where the existing products not meeting the demand of the market maybe interm of quality or price.

 

[Atiqurrehman]

Reality: The idea should be shared with everyone you meet. Why not practice beforehand if you intend on pitching your idea to potential investors? You will get feedback early on by sharing the concept with as many individuals as possible to avoid wasting time on an idea that won't sell.

 

[Ridorz]

You are right of what you said. To create a space in a market you have to bring out a something new. Creativity and Innovation is the best to make a business grow fast and successfully. Any business man/woman that wants to be a successful man/woman have to be creative and Innovative.

 

[Adetayo100]

If your startup idea already exists, don't drop it, focus on what makes you unique. Chances are there is a solution on the market for what your idea is seeking to solve. The potential of an idea should not be judged by whether there is a competing solution on the market or not.

 

[Neeta313]

An entrepreneur needs to be creative and innovative, even if you don't want to start up a new product, you can always improve on an existing product. You want to make your products unique in such a way that it will attract customers and help your business to grow. So I will say one important skill an entrepreneur should have is being innovative.

 

[adeniji]

There always competition in marketing where by selkers were selling the same product in the same location but with different business owner. It is good in a senses that it make market more lesser in price. If their is no competition in market, their will high price fir market price.

 

[Hamza1]

You can find everything in market these day so how will you able to find something that is not introduce to market yet. Well you can be successful in a business if you make product better than the other who are in market even if you make a same product. But it's quality should be better than others

 

[Adventurer]

I asked a mentor in business same question some years back and he asked if I truly want to make it in business.

To be successful in business you need to think of something new. Whatever product you have in mind as an entrepreneur must be new. That is the only way to make it and have fair chance to succeed. An entrepreneur should be ready to compete with the brand or product dominating the market if your brand or product is similar to the ones available in the market. As a startup, the business can’t compete at such level if your output is not backed by economics of scale.

For an entrepreneur to be successful you must be willing to do something new.

What are your views?

Sure you've got to think outside the box, but I'll say this when you create something new bear it in mind that there are going to be 100 copycats once you're successful. What I always advice is just make sure you're unique and treat your customers right to ensure you snag a huge part of the Market share

 

[Mahnoor]

You want to choose a product that has an easily-reachable market.

Perhaps you may be thinking, “Everyone in the world can use my product. It doesn’t matter their age, location, gender, occupation, or income, they all will want it!”.

Maybe you are thinking “if only 1% of people buy my product that will mean 100 million units and $10 billion in revenue”. By the way, such a statement is a huge red flag for investors, causing them to run away as fast as possible. So please don’t ever say something like this

 

[Olahab]

One of the biggest problems with viral marketing is that it’s often difficult to tell exactly what the company has to offer.

If you create a video that everyone loves, you might suffer a lack of recognition. A clever video might not necessarily explain your product or even direct viewers to buy.

 

[EMMANUEL]

Based on experience this far all I could see is that when you decide to go into market and start producing similar product which are found in the market I guess there is not wrong as long as you are classical in your ways of production, because in the market you can find several set of product that give the same instructions or works in the same use, but all is left to brand your product to the taste of the market desired value.
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Based on experience this far all I could see is that when you decide to go into market and start producing similar product which are found in the market I guess there is not wrong as long as you are classical in your ways of production, because in the market you can find several set of product that give the same instructions or works in the same use, but all is left to brand your product to the taste of the market desired value.

 

[Blessingedidiong]

A start up producing a product similar to one in the market is not a crime. If that is what you have interest in,you are good to go but your could make your product an improved version of the product and I a better quality.

 

[Shigobad20201]

It is not wise for a start up to start producing similar product to the one in the market, but u think people that just start business copy similar product in order to make fast money , but the point here is why can't you build your own brand and start from the scratch.

 

[FreshKaz11]

I asked a mentor in business same question some years back and he asked if I truly want to make it in business.

To be successful in business you need to think of something new. Whatever product you have in mind as an entrepreneur must be new. That is the only way to make it and have fair chance to succeed. An entrepreneur should be ready to compete with the brand or product dominating the market if your brand or product is similar to the ones available in the market. As a startup, the business can’t compete at such level if your output is not backed by economics of scale.

For an entrepreneur to be successful you must be willing to do something new.

What are your views?

To me there is no big deal in that,as long as you are doing something that is legit and it will not be in anyway to affect people buying it health. But if someone want to do that kind of a thing because it's like a competition now against the one people no much in the market,so you have to keep the price low to the one in the market,but after your product have gain it's ground you increase it .