1. Differentiation
Good design stands out from the competition. It creates customer interest before the purchase phase and user satisfaction after the purchase phase. An excellent design provides a sense of identity and status for the product user.
A well-differentiated product is priced higher than cost-orientated competitors and ultimately provides a competitive advantage for the company by catering to a specific consumer segment that is willing to pay more for having a differentiated product. A higher price point generally tends to result in a higher profit margin but is dependent on product development and production costs.
Supporting theory: Porter's Generic competitive strategies
2. Value creation
Good design is found valuable in the eyes of the customer. It creates desire at the purchase phase and user satisfaction at the consumption phase.
A well-designed product ultimately creates value for the company by building a competitive advantage compared to competitors whose sales might not convert as well due to their products not being perceived as valuable by prospecting customers.
Supporting theory: Barney's VRIO framework
3. Simplicity
Good design is as little design as possible – concentrating on the essential aspects of the product design. This principle allows customers to enjoy an uncluttered user experience while lowering manufacturing costs for the company by reducing component and material usage.
Supporting theory: Rams's Ten Principles for good design
4. Longevity
Good design is long-lasting – making the product look timeless. Although most products can easily be dated based on the use of materials, technology, and design trends – their effects of can be reduced by concentrating on principles that have endured well within the industry.
A timeless product can convey a sense of status and identity – similar to the differentiation strategy. The difference is that a well-designed product will endure multiple generations of competitor product launches while saving valuable organizational resources by having longer product lifecycles. Mid-cycle refresh, otherwise known as "facelifts" can be utilized for extending the product lifecycle at the end of the maturity stage.
Supporting theory: Rams's Ten Principles for good design
5. Inimitability
Good design should be made difficult to copy by patenting the functionality and protecting the looks with design rights. Products should be further protected by registering the trademark (for which the iconic ® will be issued) and signing confidentiality agreements during the product development phase.
This design principle will allow the company to transition from a temporary competitive advantage to a sustainable competitive advantage  – assuming the organizational use of resources will be well-managed.
Supporting theory: Barney's VRIO framework