In the information business, a unique rate for a course with constant feedback can be used, which plays a key role in interaction with the client. In a flower shop, a subscription for systematic delivery of bouquets becomes a premium offer.
The product line is the most important thailand whatsapp number component of the sales funnel. It consists of products that meet the needs of buyers, satisfy them at all stages of the transaction and help smoothly lead the client to the purchase of the main product/service.
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5 stages of forming a product line
Creating a product line is a difficult, multi-stage process that requires careful development and detailed analysis. A correctly designed line will become an impressive advantage over competitors and will help the company establish success in the market. Its formation is carried out consistently and consists of five stages:
Defining the company's overall goals and analyzing the market situation
Before you begin developing a product line, you need to clearly set your goals and conduct a market analysis to find out how your product/service line can find demand and become popular.
One of the primary and most important actions in the process of developing a product line is to define goals. They can be different: increasing the company's overall income by increasing the range of products and increasing trade volumes; conquering new segments and attracting the target audience; active competitive struggle and selling improved products to strengthen its place in the market.
Company Market Analysis
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Once the goals have been set, a market analysis should be carried out to assess its current state, customer and competitor desires. The stages of this activity are presented below:
Studying the needs and desires of customers.
Research of competitors' products and their further actions.
Analysis and forecasting of potential changes in the manufacturing market.
Determining your own competitive advantages and optimal segments.
Market analysis will help you find out what products/services should be included in your own product line, what their unique characteristics are, and how to differentiate yourself from competitors.
It is important to remember that goal setting and market analysis are continuous and closely related to the other stages of product line development, such as concept, design and marketing strategy.