Manufacturing

Launching New Products and Services by Rodney Overton

By Rodney Overton

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Barcoding, import criteria, government regulations, expiry dates Sell satisfaction What credibility do you have? Do you understand the customers business? Do you understand your company’s back up service? Does the customer have a contact person to liaise with? Are you cost effective? Can you deliver on time? Will you service the product? What have you done for your customer today ? Price is an important part of any purchase decision. An important step in selling any product is selling: • The benefits of the product • The values of the product VALUE SELLING CHECKLIST Product and service features Benefits and capabilities that satisfy requirements with cost effectiveness Stock holdings Delivery times / lead times Physical location Quality and Quality Assurance Warranties After sales service Reputation Conformity - Government requirements, bar coding, packaging, presentation.

OVERCOMING THESE WEAKNESSES What can I do to overcome these weaknesses? OPPORTUNITIES • To revamp existing premises and create a new improved image. • To increase product range and mix • To motivate and train sales staff • To take on new dealerships • To form strategic alliances THREATS • Many major national furniture retailers within 3 kilo radius • Increased parking restrictions • Increased competitor activity in area TAKING ADVANTAGE OF THESE OPPORTUNITIES What can I do to take advantage of these opportunities?

Pages stapled together lose marks. HANDSHAKE DEALS Often in a selling situation a ‘deal’ will be agreed to on a handshake. Is this a satisfactory way of doing business? Would it be better to follow up with a polite letter outlining your understanding of the agreement? For instance you could set out your understanding of the price, time span, and other relevant details of the agreement. 42 Launching New Products and Services Intimidation When selling your new product there will probably be times when you will feel intimidated by the behaviour of the people you are trying to sell to.

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