When looking at the construction industry the longevity of a product as a singular element or as part of a system can be exponential with materials now lasting the life span of a building The Green Building Guide to Specification, published by the Building Research Establishment, states that it is generally accepted that ‘a new building will last for at least 60 years.’ With many of the foundational features lasting much longer.
But a product’s performance for the duration of its lifecycle is not the only variable that can determine its success. There are many other factors that (depending on its usage) need to be taken into consideration, such as:
- Durability (think roads and paving)
- Strength (think reinforced concrete)
- Safety (think PPE)
- Security (think locking mechanism)
- Size (think processors)
- Formulation (think paints and coatings)
Regardless of what constitutes the value of a product, if it is new to a marketplace or just new into its current market, the barometer of its success will be how it performs in situ.
Let’s take a look at some products that have demonstrated their value to break into a market: