In this post we are going to guide you through the process of understanding what a digital product is.Therefore, as in any business, it is necessary to study the market, define your target audience and study in depth the product that you are going to offer following a business strategy.
The Digital Product
A digital product is any product that does not have physical form and it is produced, distributed and sold over the Internet. Its objective is to solve the problems or needs of the clients. Usually, it is used in electronic devices, but in some specific products you can turn digital products into physical products, for example when you print downloadable online courses.
Types of Digital Products
There are several types of products but the best format will be the one that transmits the content in the most appropriate way for your client. The most popular formats of a digital product are:
- Audio and video files
- Online software
- Web tools
- e-Books
- Downloadable online courses
- Online video games
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Online market situation
The digital products market is having success in the digital environment. An influential factor is because of technological advances. Is for this reason that we are constantly observing benefits changes in the digital products, as well as in the form to make the selling digital products easier.
Advantages of Digital Products
- Are easy to distribute, and you do not have to find a place to store your products.
- Are significantly more sustainable.
- The knowledge has no sales limit. It is produced once and can be replicated infinitely.
- Customers can receive the product immediately upon purchase.
- The cost of production is lower. For being all digital, the expenses are reduced to the management of the website and in the commissions of the payment method like paypal.
- The sale occurs automatically. At first, a series of systems are implemented and then the entire purchase process is done automatically: the customer sees the product on the web, makes the purchase and receives it.
May be interest you to read the post of “Differences between Product Manager, Product Owner y Project Manager“
KNOW MORE WITH ROBIN WENINGER, PROFESSOR OF THE DIGITAL PRODUCT MANAGEMENT MASTER PROGRAM