Analyze the market as a whole and your advantages
Posted: Thu Feb 13, 2025 4:42 am
Examples of the core product are a mid-priced tariff from a service company, mentoring from a business coach. In an online school, this is a six-month course for a data analyst.
Profit Maximizer
A maximizer product is designed to increase the check. This is upselling: phone accessories, desserts in a coffee shop, discounts on other product groups when buying the main product. Your line may also include additional services: delivery or a personal manager.
In the example with online schools, they offer to purchase an additional course related to the main one with a 30% discount. For example, a course on training to become a product analyst.
Premium product
The most expensive and exclusive product. It should be sold when the client wants to receive individual conditions. This could be a VIP tariff with a price on request.
Schools offer tariffs with feedback and personal support from a mentor.
Next, companies focus on retaining customers , for example, through loyalty programs or closed communities.
We invite you to subscribe to our Telegram channel "Business" . We write peru phone number list abou t life hacks for managing teams and effective communication with clients. We analyze successful cases of companies and the marketing tool s they use. We discuss what quality service is and how to improve it.
How to create a product line
Let's go through a number of stages of forming a product line.
Set a goal
Examples of product line development goals:
enter a new market;
increase business profits;
strengthen and expand its position in the existing market.
When forming a line, it is necessary to collect the following data:
study the audience and its needs;
look at competitors' product lines;
track industry trends and development prospects;
identify your advantages and reveal your USP .
Create a product
Develop one product - your flagship. This product must meet the requirements of the market and consumers, solve the client's problem. It is the basis for the entire matrix of the product line, so it is imperative to test it.
Profit Maximizer
A maximizer product is designed to increase the check. This is upselling: phone accessories, desserts in a coffee shop, discounts on other product groups when buying the main product. Your line may also include additional services: delivery or a personal manager.
In the example with online schools, they offer to purchase an additional course related to the main one with a 30% discount. For example, a course on training to become a product analyst.
Premium product
The most expensive and exclusive product. It should be sold when the client wants to receive individual conditions. This could be a VIP tariff with a price on request.
Schools offer tariffs with feedback and personal support from a mentor.
Next, companies focus on retaining customers , for example, through loyalty programs or closed communities.
We invite you to subscribe to our Telegram channel "Business" . We write peru phone number list abou t life hacks for managing teams and effective communication with clients. We analyze successful cases of companies and the marketing tool s they use. We discuss what quality service is and how to improve it.
How to create a product line
Let's go through a number of stages of forming a product line.
Set a goal
Examples of product line development goals:
enter a new market;
increase business profits;
strengthen and expand its position in the existing market.
When forming a line, it is necessary to collect the following data:
study the audience and its needs;
look at competitors' product lines;
track industry trends and development prospects;
identify your advantages and reveal your USP .
Create a product
Develop one product - your flagship. This product must meet the requirements of the market and consumers, solve the client's problem. It is the basis for the entire matrix of the product line, so it is imperative to test it.