The New York Times had a great article on Sunday about the success of Pure Digital Technologies “Flip Video” camcorder. The article’s basic message: Pure Digital has created a big market by embracing the principle of “good enough.”
The Flip Video won’t win any awards for its breathtaking design, or the quality of images it captures. The camera is simple, easy to use, and relatively inexpensive. It costs $100 for a camera with 30 minutes of capacity and $150 for a camera with 60 minutes of capacity. The device connects easily with a home computer, allowing seamless video transfer.
Pure Digital has sold a million Flip Videos over the past year. Clearly, users that are uploading videos to YouTube or emailing short video clips to friends and family are willing to trade off picture quality for an unobtrusive, affordable device.
In a perfect world, companies would introduce pitch-perfect products that were easy to use and affordable. The reality is that there often is a tradeoff between basic performance, ease of use, and price.
Established companies typically favor sacrificing ease of use and price in the name of performance. They fear the very term “good enough,” because they think sacrificing raw performance will render their products inferior.
Remember, though, that quality is relative. It is always worth asking: What would happen if you intentionally lowered raw performance in the name of simplicity, convenience, accessibility, or affordability? What new markets could you serve? What new consumption could you enable?
Read the rest at Scott's Harvard Management blog, Innovation Insights.