Is Adding a New Product the Right Decision

© 2011 Apptivo Inc. All rights reserved. Is Adding a New Product the Right Decision? Whether a business is successful and wants to expand, or a business is struggling and looking for a way to improve sales, the question ultimately becomes whether to add a... More

© 2011 Apptivo Inc. All rights reserved. Is Adding a New Product the Right Decision? Whether a business is successful and wants to expand, or a business is struggling and looking for a way to improve sales, the question ultimately becomes whether to add a new product. How do you know if that’s the right decision for your business? Before you can answer this question, you need to walk in the shoes of your customers. How well do you know your customers? Do you know why they buy the products you sell? Do you know what the right price point is? Do you sales goals set for the next year? Have you evaluated whether adding a new product is the right decision or whether there may be a better way to grow your business or more importantly your profits. Once you have identified who your customer is and what they are looking for from your business it will be much easier to determine whether a new product could benefit your business. Is there a niche you could fill by adding a new product? Per Less