But before you jump into creating your website and go on a grand marketing blitz, it is important to spend some time studying what product to sell. Here are 10 reasons why some products fail to bring in the sales:
1. Product does not meet the basic needs of the customer.
2. Product does not add value to the customer.
3. Product is of poor quality and fails to perform up to expectations.
4. Product is created for the wrong target market.
5. Product is already obsolete due to fast changing environment.
6. Product is too generic and has no distinct advantage.
7. Product is wrongly priced.
8. Product has a packaging that does not appeal to the customer.
9. Product is in a market that is too competitive.
10. Product is not user friendly and is too complicated to use.
Enhancing or changing the product's specifications are not within your control if you are not the one creating it. Hence, the only way to a great business plan is to avoid being associated with a product loser.
To analyse the product in question, try putting yourself in the shoes of a potential customer and test it for usability, reliability and whether it meets your needs. You can also go to online discussion forums to check if there are any negative comments about the product or alternatively, if there are credible testimonials written.
One very important aspect to address also is the after sales support of the product. You do not want to be caught selling something for which there is no available support from the originating merchant. The best way forward is to test the product and email or contact the vendor on your questions. If there is no reply within a reasonable time frame, move on to the next product to analyse.
