WHEN YOU EXPAND YOUR PRODUCT LINE, WHERE I WOULD START?
WHEN YOU EXPAND YOUR PRODUCT LINE, WHERE I WOULD START?
WHEN YOU EXPAND YOUR PRODUCT LINE WHERE I WOULD START - To learn more about this author, visit Joe Dager's Website.
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We talk a lot about Target Market, Ideal Client and your core message. But do you spend the time on analyzing what you are really good at? I mean think about it, what are you good at? Without question, is there one thing that you do better than anyone else? For example is there one product that just flies through your facility, while others just never seem to get done?
It seems pretty obvious but which one should you be marketing? Sometimes it is the ugly one, not the real attractive one to market. However, I challenge you to narrowly focus on these items and look at a way to develop this portion your business. Put some sizzle back in it.
Don't necessarily look at your competitors here; think of your own strengths. Think about those areas in which the organization excels. Leverage these to realize economies of scale and even the possibility to develop secondary products using your core products as leaders. Here is a 8-step process, you could use to go about it:
1. Describe your most profitable products.
2. Define any common characteristics of these products.
3. Analyze these characteristics; define core competences and processes that surround them.
4. Segment your customers that use these products.
5. Base your new marketing strategies on developing this customer segment.
6. Introduce new products to this segment first before trying to expand this segment.
7. If possible look at adding to the product line not only as an add-on sale but also find a low cost of entry into that product channel.
8. If these competences are hard to copy, give even greater priority to this segment.
Do you have any other suggestions?
WHEN YOU EXPAND YOUR PRODUCT LINE WHERE I WOULD START - To learn more about this author, visit Joe Dager's Website.
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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