When running a business, there will be times where you will be having a hard time trying to sell your products to your customers, and that is completely normal.
Although normal, a company’s inability to distribute and sell their products can lead to bankruptcy if not handled immediately. And obviously, this applies not only to small companies. Even big companies with a big brand name can face the difficulty of selling their products, too, although almost rare.
One of the biggest companies that ruled the photography market, Kodak also went through the difficulty of selling their products. The brand was hailed as the best camera manufacturer at the time. Steven Sasson, the inventor of the first ever digital camera even worked for Kodak. But, Kodak was more widely known for their film cameras, thus the company decided to center their marketing efforts for their film cameras.
The problem rose when Kodak decided to stay on their ideals to sell mainly film cameras, while digital cameras have become more popular to society due to the simplicity and effectiveness, compared to film cameras. Ironically, Kodak went bankrupt in 2012, due to their inability to sell their film cameras, despite being the inventor of digital camera.
For your company to be able to overcome the difficulty of selling its products, you will need to understand why your market is not interested in purchasing or even, seeing your products anymore. And here are the several common reasons why your customers aren’t purchasing your products anymore:
Your product is outdated.
Everything in this world needs to evolve in order to survive. Animals, since the Stone Age, had to find ways to adapt to the conditions that could be the reason to their extinction. Not only animals, brands and their products need to evolve in order to survive to conditions that could be the reason of a brand’s downfall, including being outdated. Outdated means the brand is unaware of updates, their market’s desire, current trend, technology, etc. People would rather to buy from companies that update their products frequently, such as Apple with their iPhones.
Your competitors offer the market a better value.
When your company fails to provide its customers the value they expect, needless to say, your customers will be disappointed with your brand. The problem here is not about the price of the products you offer, but it’s more about the value you’re giving to your customers. BlackBerry was undoubtedly the most famous smartphone manufacturer in the 2010s.
It all changed when Apple and Samsung decides to compete with BlackBerry, and the market slowly turned their direction. It was 2012, where BlackBerry almost lost all of their customers, because Apple and Samsung offered the market products with better value, which was the touch-screen smartphones.
Your product is boring.
Creating a product that fails to excite the market is one of the big companies’ biggest nightmares. If you’re unable to comprehend this one, imagine talking in front of a big audience about something that is very exciting to you, just to see your audience yawn and talk to each other instead of listening to you. Having a boring product is dangerous for brands especially when the market expects something exciting from the brand. What you should do is to ask your customers for constructive criticism and suggestions, in order to avoid business stagnation.
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