Creating and Selling a Product – Turn Your Ideas Into Real Goods

There are millions of products that are available in the market, and we have used at least a few hundred of them. But not too many realize that whenever they use something, they are actually looking just at the physical form of an idea. Whether we talk of movies, video games, home appliances or for that matter, the food we eat; all of these things once existed inside the head of a person. Large companies also once had a humble beginning which started from an extraordinary idea that appealed to the masses.

If you happen to have the madness of a genius trapped inside your head, then you can also turn your ideas into cold hard cash, by following these steps:

Creation of the Product:

There are many starting points that you can adopt while creating a product. The best will be to create a product based on an original idea. Another line of action can be to make necessary changes in an already floating idea, and then come up with a better product. While you can start the process backwards, by first going into the market and gaining information about the demand volume, and then produce a product that is according to public demand.

Designing the Product:

Although, you always have a loose picture of your product in your imagination, but it is best to draw your thoughts on paper. This will allow you to make necessary changes quite easily, and think in an objective way about the needs of your product and the consumer. You should define the purpose, appearance and features of your product, and at the same time make a comparison with the present products in the market.

You should realize the importance of design and appearance, as despite all the qualities unless your product appeals to the aesthetics of your customers, success will doubtful. Steve Jobs says that, it’s so much more than just veneer, its actually interior d├ęcor. This implies that the design of the product is a fundamental characteristic of a product, distinguishing it from the rest. During the creation of the recent model of iMac, Steve jobs insisted on not installing a fan on the equipment, which resulted in production of a far better product that was more efficient in thermal management.

Conduct Researches through the Market:

While creation of a product is the easiest phase, selling it can turn out to be a nightmare, if there is no demand for your product in the market. You should determine the target market for your product, which will pounce upon your product. Understanding the nature of your product will let you know if it would require intensive promotion or not.

Conducting a market survey, will also aid you in understanding the standing of your product among the manses, and then you can design your marketing campaigns accordingly.

Sale of the product:

Selling the product can be the hardest part; therefore, the first thing that you must put in order is your selling strategy. Selling a product involves many other aspects other than just simply getting into the ears of your customers. You have to place yourself in the boots of your customers, and have a deep look at the features of your product.

Which feature will really appeal to the masses? How can you define your product to your customers? And finally, is your product string enough to knock out other rival products?

Deciding the Sales Route of your Product:

The route which you use to offer your product to customers will immensely affect the production, pricing and handling of your product. A key consideration will be to sell it online or offline, or both. Offering your product online will open new horizons for the marker of your product, inducing more demand from buyers. Will you be ready to offer discounts to customers who purchase in bulk? This is a technique that is popular among sellers to promote sales.

Using an affiliate program to promote your product can also a good option, but you must ensure that the pricing covers up the commissions. The options may be plenty, but choosing one which can be stable and helps maintain a high level of sales requires some thinking.

Fixing the Price:

Setting the price of your product, can be a perplexing job. Most businessmen often falter when they come across this obstacle. And unless you exhibit some sense and take steps oblivious to care, it could turn also out to be the cause of your downfall.

Fixing the price involves a strategy and this decision ought to be taken after taking your input and sales costs into consideration.

The Demand and Supply Rule:

Another important not to miss is how much demand for your product already exists in the market, and how do you plan to meet these demands? You may have to manufacture your product over a longer period, and checking the supply of raw materials is also essential.

You also have to take a deep look into the market and make up your mind about creating demand in the market for your product. It is a possibility that the type of product you produce may not have sufficient demand, so you will have to act and take steps to create it artificially.

The fate of your product may also be linked to any of the existing products, for instance, if you manufacture leather casings for iPods, then, any major changes in the shape or size of its latest released product, may kill the demand for your product, unless you also make the necessary modifications.

Keeping an Eye on Your Rivals:

It is also helpful to keep an eye open for your market rivals who produce and sell similar products to yours. Their selling techniques, target audience and marketing strategies can help you define your own strategy.

Product Promotion:

Once you have completed your product, now all that remains is to create awareness among people about its existence and benefits. You will have to choose which medium of promotion may be most suitable to reach your target market. Creating a website may not be enough, and adopting conventional media may well attract buyers in huge numbers.

It is also important to remain flexible and open to new ideas, as you may have to modify your promotion strategies with the passage of time.

Day Spa-Salon Marketing – 5 Great Promotional Ideas

Promotions are a great way to get your employees involved. Promotions build morale and momentum. Here are just a few more promotional options that you could be implementing. [See Promotions, Promotions - Part 1]

1. Staff Promotions: Yes, you should constantly promote your staff – to boost morale, reward hard workers and call client’s attention to your employees’ abilities. Staff promotions could include incentives, choosing a Stylist of the Month, displaying staff’s educational certificates, and featuring a different staff member in each newsletter.

As you can see, promotions will tend to overlap one another. A Father’s Day theme promotion will also be a Target Group Promotion aimed at men; it may also be a Retail Promotion if you’re including retail discount. Cross-promoting is an acceptable way of covering several bases. Just don’t try to promote to every group on every level at once. Experience has taught that the more specific a promotion is, the easier it is to gauge the success of it, so you’ll know whether it’s worth doing again.

2. Make-Over Contest: Have clients and potential customers submit photos and letters explaining what they would like to change about their appearance and why they want to have a makeover. Select numerous candidates to undergo the transformation. Make sure you have a photographer on hand to capture the moments. Tie in your makeover contest with a local talk show. Some possible makeover categories are:

  • Mothers-to-Be
  • Working Women
  • Seasonal
  • College-to-Career
  • New Attitude
  • Over 40 and Fabulous
  • Sweet Sixteen
  • Stylish at 60
  • Mother Daughter
  • A Family Affair

The client receives a free gift item (preferably a retail product) with a required minimum purchase.

3. PURCHASE WITH PURCHASE: Customers are able to buy a special promotional items at reduced savings. Some companies have used umbrellas, tote bags, and trial sizes of products, gym bags, cosmetic bags, clocks or watches. Make sure your promotional items are every bit as wanted as those the department stores offers.

4. FREE LIPSTICK CARDS: The customer may receive a complementary lipstick with any $15 minimum purchase. The lipstick card is an ideal promotional item to distribute after making a presentation to a group of consumers. Try to keep the minimum purchase to a minimum to create foot traffic for the business. A free lipstick/lipgloss offer entices women to walk into your salon.

5. YEARLY COUPON CARD: The object of this promotion card is to establish consistent retail traffic. In order for customers to redeem the coupon for the free gift, they must first make a minimum $25 retail (not service) purchase during the month. The base retail purchase requirement is beneficial for two reasons: Once the client starts to enjoy the free gift each month, she becomes accustomed to a little extra present at the end of each visit. Many clients will budget for their minimum requirement and systematically plan to restock their products monthly so they can take advantage of the coupon offer. It is fun for the client to go home with a little treasure.

Custom USB Drives – 4 Very Effective Promotional Ideas

USB drives are practically everywhere. They’re cheap, highly usable, versatile and most of all portable. These qualities make flash drives a definite must-have for anyone wanting to do anything, and that’s not even approaching exaggeration. It’s no surprise then that marketing and advertising professionals have latched on to the idea of giving them to potential customers and stakeholders any chance they get. This has proven to be an economical, practical and above all highly successful way of driving company sales, brand awareness and even loyalty.

Of course, some strategies are more effective than others. Here are the top four action-ideas most businesses can use to maximize the benefits of custom usb drives.

Freebies

Who doesn’t want a free product? Better yet, a free product they can actually use for storing their work files, music, and any other documents they want to have with them all the time. These are powerful benefits your customers can enjoy with custom flash drives. And for your business? They’re sure to push your sales up if you offer these nifty gadgets to current and prospective customers for free if they purchase one of your products or services. Go ahead and stamp these free custom USB drives with your business logo and branding images. You can even pre-load the drives with your latest product catalog, promotional videos and other marketing collaterals.

High-Tech (And Useful!) Calling Cards

If you or your employees regularly make cold sales calls to offices, or frequent industry conventions and meetings, then you’re bound to meet a large pool of potential clients and business partners. While traditional calling cards are still very much acceptable, supplementing it with a custom USB drive is a great way to make a first impression. There are even some custom USB providers that offer to combine the two, with an eye-catching calling card design bearing your company’s branding and contact details incorporated with a working flash drive.

Product or Solution Container

If you’re in the business of selling software, videos, courses, music or games you’re probably aware of the hassles of selling them offline or in traditional stores. The packaging is almost always bulky, and retailers are getting more and more concerned about maximizing their retail space. These two things often result in your products getting relegated to non-prime retail locations resulting in fewer sales and lesser branding potential. Also, putting your digital products on compact discs almost always ends up with several batches of damaged or otherwise unusable products which can frustrate your customers and give you headaches, lost sales and poor reputation. A smarter alternative is to have custom USB drives contain your digital products. They’re significantly more durable and they take up less space than CDs.

Employee Giveaways

The importance of making your internal customers happy has never been any less important in this day and age. Your employees will appreciate receiving a custom flash drive that can help them do their work better and more efficiently. It can also go a long way in creating a stronger identification with your company and culture among your employees. After all, they are the best ambassadors for your products and services. Match their custom drives with a company-issued lanyard or keychain and they’ll be more than happy to wear it even outside the office, further increasing your brand visibility.

These strategies have been proven effective in boosting sales, loyalty and awareness to many businesses, big and small. Feel free to test these strategies on your business and see how they’ll help improve your bottomline. Just make sure that you find a provider that offers a good price for reliable USB drives and gives you the freedom to design it the way you want to.