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Must-have vs. nice to have

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in Business Management

In newsletter publishing, an area where I write a lot of copy, publishers divide their products, mostly newsletters, into two categories: “must-have” and “nice-to-have.”

I think these categories can extend to virtually any type of product or service, and I would add a third category to the mix: “should-have.”

What’s the difference, and why is the difference important to marketers?

A “must-have” product is something absolutely essential to the customer’s life or business.

In business today, a PC is a must-have product. For most consumers, a telephone is a must-have product. For a cardiac patient, a pacemaker might be a must-have product, based on the doctor’s determination.

A “nice to have” product is something the consumer might enjoy but does not need. It is a luxury, a frill. Collectibles are a “nice-to-have” product. Subscriptions to consumer magazines, membership in a book club or record club, and jewelry are all “nice-to-hav...(register to read more)

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