Friday, November 26, 2010

Developing New Products

Businessmen and manufacturers are manufacturing products according to their taste and perceptions and forgetting the major and most important thing about selling more and earning great profits that is to design products according to the consumer taste, wants, needs and desires.

This is the most common mistake that nearly every manufacturer and businessmen make that is making such product that they themselves like and perceive that customers are going to like it. This is nothing but a very simple kind of gamble.

If you win it that means it was your luck and if you lose that it's your fault because you did not start well and so you ended badly. Good ending means good starting and good planning. Its not a gamble.

It is something that you have to confirm that is growing sales and increasing your margins of profit. That is possible if you are designing the product as simple as according to the customer need and want. They are not going to buy something they don't want or buy.

Like if you think that you love yellow color, people are not going to prefer it because they like other colors.

So it is never possible that the things you like will be liked by others. The products should be rather must be designed according to the customer taste. That is only possible if you know it, and if you don't then you need to go and ask them. You must go for a survey first and after an analysis of what they like in majority declare it and manufacture that.

Only then sales can improve and you can earn great profits.

The following should be taken care of in developing new products:

1. Ask the customers about their perception of a product based on

a. Taste

b. Color

c. Design

d. Flavors

e. Packaging

f. Ingredients

g. Weight

h. Price

2. After confirming all these test the market from certain areas and find the response

3. That can be done by

a. free sampling

b. Buy one get one free

c. Introductory prices

d. Any other promotional campaign

4. If majority likes, approve it and then commercialize and start heavy manufacturing of the product/s.

Following these ways can guarantee success of your products sales and can earn you great and abnormal profits. Just simply think like a customer and make it like a manufacturer. This will work very well for your company and business.

By : Aasim_Gill

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