Product vs Platform

A product is consumer centric. It serves the need of the end-users. On the other hand, a platform is both producer and consumer centric. A platform, from the company perspective, has to empower the producers to create. Producers in our case include partners, third-party developers, hobbyists etc.

End-users not only get benefitted from the product but also from the platform and the apps/products that it contains. Usually these platform offerings are available via a marketplace. A good marketplace can retain the customers/end-users by fostering innovative solutions sourced from the producers/developers.

A platform is characterized by it’s ability to extend a product. When products transition into platforms, it is imperative to provide a good developer experience (DX). It is analogous to user experience (UX) which can determine the success or failure of a product. Reaping the benefits of good DX/UX translates into successful adoption.