In the B2B foodservice space, many manufacturers leverage industry trade shows to launch new products. And although the timing is great, all the ‘new’, ‘innovative’ and ‘must-see’ products can start to look alike after a while. That is, unless your launch looks very different.
I know we’ve shared with you before the most important steps to realize the success of your product launch (and why many of product launches fail). If you remember, #1 on that list was to “Really understand your customer/consumer.”
So your company has a brand new product that is going to change the way your customers do business. You’ve field-tested the product. Customers love it. It saves them money, increases their efficiency and throughput, and in general enhances their bottom line. Boom. You’re ready for launch, right? WRONG.
Have you ever thought about why customers buy your product? Is it because of your brand name or the product features and benefits, or maybe the persuasive copy written in the catalog? Or is it price?
Take a close look at your company’s product and service portfolio. Does your portfolio reflect your company’s business strategy, or is your portfolio loaded with a mismatch of products or services with little potential for growth? New products and services set the future direction of your company. If your portfolio does not support your company’s […]
So it looks like the economy just might be turning around, albeit slowly. (And who knows what news today’s stock market may bring.) With this tentative optimism, most companies are furiously looking for ways to improve sales. But we would issue this warning: be sure you are anticipating potential roadblocks.