The Market Decides What Will SellIn business, oftentimes, things don't sell as expected or, conversely, unexpected things sell. This is because there’s a difference between how a manager sees the market and the reality of the market. But this isn’t just true for business managers. Even after doing market research, it’s not uncommon for the market to be out of sync with actual market trends. So how do you know what will sell when you make a product, and how do you know what the market wants? Here are some ways that’ll help you figure it out:
It’s impossible to talk directly to new customers. However, it is possible to talk to existing customers. It goes without saying that customer feedback is an important source of information. Just because we do market research, it doesn’t necessarily mean we’ll hear the real story there. It’s important to talk with customers in as informal a setting as possible.
Salespeople are the ones who actually talk directly with customers. They’re usually involved in a variety of conversations with customers. I think it is safe to assume that the information that comes into their ears can be trusted since they get it directly from the customer.
Instead of a full-scale, paid digital product or service, release a free version that anyone can sign up for and see how it goes. If the response is positive, release a paid professional version to introduce it to a larger number of consumers.
These are just three ways to help figure out what will sell, but there may be other good ways to check out the market. Let us know if you have any others in mind.
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