Tuesday, January 04, 2011

What You Won't Do

I have said this in a previous post - your brand often depends on what you will not do, more so than what you will do. Product choice is a scary thing. You are tying up all your resources in inventory that may or may not turn into cash. But that doesn't mean that you should sell a little of everything.

Let's look at Ian's Shoelace web site. Ian, for whatever reason, has decided to sell shoe laces. Who buys shoe laces you say? People with feet, who so happen to wear shoes. Is this enough of a product mix to survive as a business? Only Ian knows this answer. In any case, I like Ian's approach. He is taking advantage of economies of scale and scope to deliver a simple, but varied, product to the world. Ian is at the top of the search engine, by the way.

If this focus is too narrow, maybe Professor Arun Kanda can help you understand it in a more complex way.

Thanks Professor Kanda, now you should be on your way. If you didn't like his methods, you may want to go with a real focus. Try it today, tell you customers what you will not do.

For advice and consultation on product development and product marketing strategies, please contact a KLCS representative for more details.

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