Product
Development
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Your
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Your
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Your product failed miserably upon introducing it to the retail market. |
One of the advantages to having a relationship with the sales channels is that you can discuss future products. This allows you to develop products that are ideal for retail; and therefore sell better. |
Retail - your connection to the real World The perfect relationship between retail and vendor is when the vendor begins to involve the retailer in the product development. The retailers have the advantage of knowing what other vendors are developing. Therefore, using retail as part of your product development could increase your odds of creating products that are optimal for retail. You may feel there are certain areas of discussion that you cannot trust people outside of your company, but you reach a point where you benefit from knowing the retailers point of view. Moreover, retail knows they will benefit from products that are optimal. |
Texas instruments Once a Product Developer responsible for Texas Instruments showed me a prototype of a palm-like product. When asked my opinion, I told him that I didnt think it would ever be a commercial success. They did not like my explanation. Nevertheless, by asking buyers like myself, you have the potential to increase your sales or save a lot of money. Sometimes a good product or idea is just developed too late. The buyers have good ideas about future products and if the product will make it in todays market. What is more, I never saw the product from Texas Instruments introduced. HP Big companies, such as HP, frequently ask retailers which components should be used in their computers, and what the right retail price should be.
Jens Welling |
The author of this article Jens Welling has worked with retail purchase, retail sales and retail marketing over the last 15+ years. Jens Welling has written a number of articles as a good source for any new and established company who want success with retail sales. Below are short descriptions and links to other articles. |
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Why You Have To Do Your Homework Choosing Sales And Distribution Channels Category Management Unique Selling Points (USP) Price Strategy What The Buyer Wants To Know Exit Strategy Price Setting |
Negotiation Tactics Rejection From Buyer Marketing Strategy Education Management Warranties Building A Brand Logistics Keeping Your Store Sales Alive Product Development |