6.1.1 Importance
The product is important. Whether it’s a chair, a beverage, an aircraft or an
anaesthetic, it’s the product, and perhaps some related services, that the customer
wants. The product is the source of company revenues. Without a product, the
company doesn’t need to exist and won’t have any customers. Without a product,
there won’t be any related services.
The company generates revenues from an on-going stream of innovative new
and upgraded products. Great products make it the leader in its industry sector.
Great products lead to great profitability.