Question

Topic: Strategy

New Product Stratefy

Posted by rum68br on 12/19/2008 at 2:30 PM ET 125 Points
Hello everyone,

I have started a new job last month and have found that my company is only known for one good product.

The manager wants to expand this success to the companies other product range so if sales dip in leading product, the company will not suffer. The only problem is that my research has found that the companies other product are not going to sell because they are too expensive and there are better products on the market.

The manager wants promotions. So what should I do, tell him the other products will not sell as they suck or come up with promotions which I know will not work. Any help would be great.
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RESPONSES

  • Posted on 12/19/2008 at 3:00 PM Member
    First of all, I had to laugh at your post--way to say it like it is. It seems to me that you don't want to spend a lot on the promotion of a product that you don't think will sell regardless of how much you spend to promote it. That's easy. I would; however, look for ways to make those other products competitive if you are correct in your assessment that they just aren't marketable because of both cost and quality. Begs the question: "Why carry them at all?" Your managers concern that your company is too dependent on one "good Product" is valid and perhaps you should be looking to diversify your offerings with existing "good" product or adding product to your line.
  • Posted by michael on 12/19/2008 at 4:53 PM Member
    A couple things:

    1) Remind him that if you sell an inferior product it will actually reflect bad on your core product. That's a very expensive mistake.

    2) Convince him to DUMP those products and become a middleman for a "competitor"....meaning someone who doesn't offer your core product.

    3) Make the rounds of your dentists and ask them what products they feel you could carry. They may be very unhappy with their current line. In fact, I'm gonna suggest you do this all BEFORE you talk to your boss.

    Michael
  • Posted by CarolBlaha on 12/20/2008 at 10:17 AM Accepted
    Phil is right. It is your job to make a silk purse out of a sow's ear. There is always a spin and that takes a lot of drilling deep to find.

    If you go the route of telling your boss you think all their products "suck"-- you better back it up with facts-- and a plan of where to make improvements. Obviously someone is buying these "inferior" products. Why? The reality is very few products dominate in every way-- quality, price, availability, etc etc. Its not a perfect world. If you aren't selling #1, there is plenty of room for #2, 3 and even 4. If you really do not believe in your products you should start looking for employment somewhere you will. If you create a plan that you "know" will fail and does-- they'll move you along anyway.
  • Posted by baz_ent on 12/23/2008 at 8:10 AM Member
    You can use brand association, and target marketing.
    you associate the good product with the other products, then target segment of the market that will see the products as expensive ,becuase they are of high qualities
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