This is a one million dollar question, which everyone wants to know. If they know the answer, they would not tell others, because, they will lose the orders and sales if they told their competitors.

You have to do some marketing intelligence, some reverse psychology and self examinations.

Marketing Intelligence

Find the target audience, and evaluate the acceptance level of your product, the competitor's product, based on positioning of your price, product quality and brand name. Survey the buying habits of the target audience, differentiate the market sector, study the demographic groups who will most likely to use your product and do market survey.



Online marketing intelligence and purchase data from vendors for the Opt-in group, according to the demographic section, the Early Adopters, the Early Majority and the Later Majority group. Do mass communication to these groups, according to their Geographical locations, their cultural background and their Geo-political environment. Do some advertisements as to the methods to employ: Hold exhibitions, Trade Fairs, advertise on TV, Radio or print media, Tele-marketing the product, Mass Emails, Website promotion, and advertise in other portals and do affiliate marketing through websites of related portals.

Self Examination


Ask them why are they not buying from you? Could be due to price of your product is higher than others, or the quality of your product is bad or they have no knowledge of your product, and fearful of accepting the product which may not function as well as the known brands.



From their feedbacks, do something to remedy the problem. Ally the fears of the customer by offering extended after-sales service warranty, give them references of well known users, or give them samples to test and some trials.



If the price is higher than the competitors, look at the price as the whole. Could you reduce your price? Work with your production, logistics and material cost departments and find out ways in which you can lower your price with the comfortable profit margin. Test the market, check the competitor's price and their product standards. Position your product price and motivate large volume turnover by giving quantity discounts.

Product



Is your product compatible with the market needs? Is it user friendly, reliable and full of features which are in the demand? Technology, innovation, product life cycle, and integrative to merge with other systems. Do your products carry the approvals of Safety Standards, Quality Assurance and Classifications of various applications?



Finally, the Selling skill of your sales people. Do they have knowledge of your products? even the competitor's products? Can they convince the customer to buy your product instead of the competitor's.



Prepare brochures, catalogues, technical specifications and application stories, customer's testimonies, and presentations in all media: the printed form, the multimedia form and the power point presentation.





Street Smart