Figure 3-1: Questions to ask as you assess your sales growth options.
The Care and Feeding of a Product Line
You have two ways to increase sales:
1. Sell more to existing customers.
2. Attract new customers.
Figure 3-1 presents questions to ask as you seek to build business from new and existing customers through new and existing products.
Figure 3-2: Sales follow a predictable curve throughout the product life cycle.
Enhancing the appeal of existing products
At least annually, small businesses need to assess whether their products still appeal to customers. When customers lose interest, a company needs to adjust features, services, pricing, or packaging — or make other changes to sustain or reignite buyer interest. Here are some of your options:
Same product, new use: Start by looking for ways you can re-present the product to win new purchases by established and new ...