Now that you understand the importance of having a product mix that suits your business activities, let’s dedicate the
rest of the text to tips for defining your company’s offer card. Keep reading!
Evaluate the sales history
Any company concerned about the future of its saudi arabia telegram data business has detailed records of sales
history. Perform a detailed analysis of this data and identify patterns .
Are there any products in decline? Are there unfavorable times for certain products? Does one item boost the sale of another?
With the answers to these questions, consider whether it is worth removing or adding any products. It is important that
this process is carried out periodically to provide a better basis for efficient decision making.
Keep an eye on your competitors
Just like you, your competitors are striving to secure a satisfactory market share.
That’s why it’s imperative that your company stays connected to what others are doing to achieve this goal . The idea
here is not to spy or copy, but to develop a critical eye on the market.
Look at the approaches that are working well for your competition , as well as those that are working poorly.
In this process, you will likely identify gaps in the market that your company can fill.
It is important to pay attention not only to the results achieved by rivals, but also to point out the reasons behind them.
If a product stands out in your niche , try to determine your differential . Is the price low? Is the packaging eye-
catching? Is the location of your shelf crucial? From these definitions, you can view your own activities and map out routes for optimization.
Understand your person
Understanding your persona’s pains and gayle walsh infection preventionist motivations is essential. In most cases,
these factors indicate the reason for a company’s success or failure .
So before you decide to develop a new element for your Product Mix, ask yourself:
- Does the consumer need this novelty?
- Are you willing to pay the price you set?
- Is there any better alternative on the market than yours?
- Does the product have the potential to sustain for the desired period?
By understanding these issues, which can be achieved through market research , you will make accurate, confident and
efficient decisions.
Consider the relationship between the products of the mixture
When organizing the product mix, it is crucial to cob directory consider the relationship between the products already
offered and those potentially added to the catalog. After all, it is important not to disconnect from your niche and end
up becoming a brand without a defined identity.
With that in mind, try to offer products that complement others, a factor that encourages purchase.
An interesting example in this regard can be seen in the organization of shelves in any super
market .
You may notice that in the designated drinks area, it is easy to find small snacks such as peanuts and cookies. This is
not an accident.
Marketing teams understand that when purchasing a soft drink for an event, the customer is likely interested in something that serves as a tasting.
The same can be observed in most stores. Any store that specializes in the sale of shoes, for example, offers consumers the purchase of socks, anklets and products to maintain their shoes.
So, identify something that can complement your main offer and get to work.
Regardless of the segment your business is in, it is crucial to evaluate the depth and consistency of your product assortment.
More than that, this activity must be carried out periodically, to analyze the market’s receptivity and the performance obtained by the company.
If implemented correctly, Product Mix can help your company win over consumers and secure greater market share .
To do this, it is essential to know the person’s characteristics well and maintain constant monitoring of the market.
So, after that information, how do you rate your company’s product mix? How about continuing the learning? In this text, we talked about the product life cycle . Check it out!