Post by Ismail AbdulAzeez on Sept 17, 2021 11:04:08 GMT 1
You can’t be with us in this forum for a long time and still be complaining that you are unemployed; it is not possible because we are continuously bringing to your knowledge businesses you can easily do without spending too much money.
Within the last one week, about 3 people have consulted me on this same problem so I have decided to put a general solution for more of our forum members to go through and benefit from.
In this series we are going to look at how you can pick a new product in the market and single handedly make it successful. It may sound strange but it is completely doable as it has been done many times before by people who are just fresh in the business.
Let me tell you something you need to understand today; there is no product made by manufacturers that does not have a problem it solves, you only need to do a research, discover the problem it solves and dominate the market.
If you have a company, you cannot say that your company is successful if your products are not successful; your products must be selling well in the market for you to say that your company is successful.
Remember that if you cannot make your product successful, the business will fail and close down. So you really need to read and understand this great solution to business success.
Let us first of all look at what makes a successful product.
A typical example is a call I just received from one of my students who was asking me of a new product he can market; his problem is that the other product that other people have been marketing for over two years has been oversold according to him.
I said according to him because a product cannot be oversold, there are more than 200 million people in Nigeria; what quantity have you sold that makes you conclude that the product has been oversold?
However, he wants a unique product. This product has not been sold in the market locally; the customers have seen other products around for quite some time and now need a fresh product. But does this mean that the product will be a success?
This is the nut we want to crack now. Come with me and see how we are going to treat the issue. So this is the time to show them something new.
How can you achieve this? The first step is to include unique features into the product. If you are developing the product from your factory, be sure that the product will have some unique features that your present customers have not seen before.
When they see new features they will feel attracted to those features and the movement will start from there.
You see, when a product or service possesses new features and the customers are feeling the pull, it is now time for you to use the unique features to create appeal.
If you are in the service industry, be sure that your services are offering far more appeal to your existing customers and those of the competition.
For physical products, superior design is very important. Let me tell you, no matter how good your product is but if the design is not appealing you will be losing customers because of bad product design.
In your campaign, people are more likely to see and fall in love with the design of your products before placing order for the physical products.
One of the greatest qualities a new product should possess in order to crush the competition is its ability to offer solution to problems that people are going through.
We have said it time without number that buyers are not interested in the features of a product, but are more interested in the ability of the product to solve their problems.
Your product must offer solution to a problem in order to be successful:
People face certain problems that can be daily, monthly, or yearly. Products that offer everyday solutions to people’s problems get more success.
But remember that we discussed in the past that before importing the products, you have to first find out if truly the product can solve those problems claimed by the manufacturer. Do not just believe; you can import one or two pieces to use in finding out the claim by the manufacturer.
After using the product, you can then place order for more if you are satisfied that the product actually performs as claimed by the manufacturer.
We will continue the article in this series to consider issues that border on features that make a product successful. The reason being that it is only when your products are successful that your importation business becomes successful.
Within the last one week, about 3 people have consulted me on this same problem so I have decided to put a general solution for more of our forum members to go through and benefit from.
In this series we are going to look at how you can pick a new product in the market and single handedly make it successful. It may sound strange but it is completely doable as it has been done many times before by people who are just fresh in the business.
Let me tell you something you need to understand today; there is no product made by manufacturers that does not have a problem it solves, you only need to do a research, discover the problem it solves and dominate the market.
If you have a company, you cannot say that your company is successful if your products are not successful; your products must be selling well in the market for you to say that your company is successful.
Remember that if you cannot make your product successful, the business will fail and close down. So you really need to read and understand this great solution to business success.
Let us first of all look at what makes a successful product.
A typical example is a call I just received from one of my students who was asking me of a new product he can market; his problem is that the other product that other people have been marketing for over two years has been oversold according to him.
I said according to him because a product cannot be oversold, there are more than 200 million people in Nigeria; what quantity have you sold that makes you conclude that the product has been oversold?
However, he wants a unique product. This product has not been sold in the market locally; the customers have seen other products around for quite some time and now need a fresh product. But does this mean that the product will be a success?
This is the nut we want to crack now. Come with me and see how we are going to treat the issue. So this is the time to show them something new.
How can you achieve this? The first step is to include unique features into the product. If you are developing the product from your factory, be sure that the product will have some unique features that your present customers have not seen before.
When they see new features they will feel attracted to those features and the movement will start from there.
You see, when a product or service possesses new features and the customers are feeling the pull, it is now time for you to use the unique features to create appeal.
If you are in the service industry, be sure that your services are offering far more appeal to your existing customers and those of the competition.
For physical products, superior design is very important. Let me tell you, no matter how good your product is but if the design is not appealing you will be losing customers because of bad product design.
In your campaign, people are more likely to see and fall in love with the design of your products before placing order for the physical products.
One of the greatest qualities a new product should possess in order to crush the competition is its ability to offer solution to problems that people are going through.
We have said it time without number that buyers are not interested in the features of a product, but are more interested in the ability of the product to solve their problems.
Your product must offer solution to a problem in order to be successful:
People face certain problems that can be daily, monthly, or yearly. Products that offer everyday solutions to people’s problems get more success.
But remember that we discussed in the past that before importing the products, you have to first find out if truly the product can solve those problems claimed by the manufacturer. Do not just believe; you can import one or two pieces to use in finding out the claim by the manufacturer.
After using the product, you can then place order for more if you are satisfied that the product actually performs as claimed by the manufacturer.
We will continue the article in this series to consider issues that border on features that make a product successful. The reason being that it is only when your products are successful that your importation business becomes successful.