37. Formula for Success: Real-Time Channel Development

Selecting distribution channels is a combination of art and science. Mass distribution may sound like a desirable strategy, but timing is critical if this is your goal. One mistake that businesses make is choosing this strategy too early in the product life cycle. If your product does not have brand awareness, selling through mass retailers and distributors could prove to be fatal to your business or product line. You need to create market demand for your products first, or you risk low sales and being abandoned by the channels you worked so hard to establish.

Unless you can make a significant investment in marketing and advertising, your strategy should be to build brand awareness through ...

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