Before you jump into the business world to offer a product for sale to a wider audience of consumers, it's a good idea to do some research to gain insight into what products you have to offer.
There are several things that can be your reference, including:
- Is this product needed by many people?
- What problems are your customers facing?
- Can this product be the solution to this problem?
By understanding the 3 things above, it will at least give you an idea before actually determining the right business product.
Many people who have sold their business products but did not make a profit or even a loss, and in the end gradually failed.
Therefore, in this Success Tips article, you will get new insights on how to determine the right selling product.
Tips for Determining the Right Selling Product!
# Focus on One Product
Having lots of customers is great, but that doesn't mean you're wasting a lot of time on things that don't have a big impact on your business.
To clarify the meaning above like this:
Selling products to everyone will actually make it difficult and confusing for you to determine the focus and sales strategy,
why?
Because everyone is different, and you have to be able to know the best way to do marketing so that it can be right on target to your intended consumers.
If you can narrow your target market, it will be easier to carry out marketing strategies to get maximum sales.
For example, you want to open a culinary business. If you are an employee and live in an office area, the product you can sell is lunch for office employees.
Focus on the needs of that target market by providing the most relevant services to get them to switch to your business.
# Providing Products That Solve Consumer Problems
Once you have determined the most specific target market, the next thing is to know what problems they are facing.
For example, the target you set is office employees who have remote access to find lunch, or sometimes these employees have less time off so they need time efficient to get lunch faster.
You have to find out the problem so that you can provide the right solution for those who need your services.
# Present the Best Solution
Now the last thing is that you must be able to provide solutions to the problem of the target market.
This can make you the best choice for consumers to get satisfaction when making a purchase.
Well, you need to instill these principles in yourself so that they are not only useful for determining product sales but also help you in running a business.
Read more : How to Start Selling Food from Home
5 Ways to Determine the Right Selling Business Product!
1. Determine Your Niche First
Because you are still confused about choosing a product, it is important for you to choose a business niche first. For example, what business industry would you like to enter?
There are many choices that you can choose, it can be in the culinary industry, fashion, or even technology such as building a startup.
This can help you to do product research with more clarity and direction.
2. Trending products
Look at emerging trends to help you find products to sell.
Usually products that are trending are products that are sought after by many people to sell faster in the market
3 Don't Choose Products With Too Many Competitors
Even if you have many customers, you should also consider how many competitors are selling the same item.
If you still want to sell similar products because you have great consumer opportunities, that's fine as long as you can provide more value than the products you sell. This difference can be an added value of your selling product.
4 Determining the Right Price
You must determine the price range of the product you want to sell. If the capital you have is large, of course the product to be offered also has a greater price and vice versa.
5 Disposable or Durable Products
The latter are products that are sold once or purchased repeatedly. For example, if it's an electronic item such as a television, cell phone, or laptop, the consumer will only buy it once. However, if the culinary product is heavy food, consumers will buy it many times.
You can also take advantage of many digital tools to find the most relevant business products for you to grow.
It is hoped that after reading this article to the end, you will immediately know what product is the most appropriate for you to sell and guaranteed big profits.
Read more : 15 Examples of Very Promising Low Capital Home Businesses