Product Spotlight: Product Development
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If you own a business, you have a product. You may think it is the best of its kind.
Hopefully it is, because that is the key to success–or the first step to attaining that success.
Even if your product is the best of its kind, even the only one of its kind, our prospective buyers have to be aware of its existence and convinced of their need for it.
No product or product line is a static commodity. Competitors will imitate and innovate. Consumers’ perennially fickle tastes will shift. To be prepared for these developments in the marketplace, development needs to be a constant consideration for the product line. Whether your product is software or a five-star menu, your job–beyond providing that product–is listening to the feedback of your customer base in order to maintain and increase the flow of your business’ lifeblood: satisfied customers continuing to buy from you. Customer feedback, whether in response to targeted e-mails or social media posts, or in consumer-initiated ratings on sites like yelp.com, can drive the development of new and/or improved products.
In the dynamism of the marketplace, that constant cycle of development and distribution,, your customers must once again be made aware of its existence, its value, and their need to acquire it from your company. Here, all of the e-marketing tools which were used in acquiring your initial consumer base should be re-enlisted to spread the word regarding your product development.
Change is the only constant. Being constantly aware of the dimensions and directions of that change can enable your business to continue to profit in accord with and in response to that change. Look to Strategic eMarketing (SEM) for help with this vital process for your specific business.