There are many reasons for this. Many experts point to the lack of "understanding of marketing" behind it. It could be a false pricing structure. It could be due to a lack of customer demand.
In order to be successful, your product must be in demand, which means that it must meet the needs of everyone/ a high number of people. This is an indicator that you are solving a problem that does not exist for your customers. You need to dig deeper and identify your target market. Differentiate yourself from competitors/ potential competitors.
It is unusual that your company does not have a product, that appeals to a particular audience. This is a common misconception that leads people to believe that potential customers of their product or service should be included in their target market.
It's how you talk to the people who buy it about your product or service. Successful sneaker companies are known to focus on a specific goal. Conversely, Converse makes a more personal declaration of identity. It's fitness and sport that win. There is a need for sneaker companies to help us know which sneakers meet our personal needs so that we can compete with ultra-fashionable products. One of the most important lessons in targeting your customers is to identify who your customers are. Find out what your niche is and what isn't.
Just because your product or service may appeal to a wide range of people doesn't mean you can't learn more about how they market your business as a result. How your customers talk about you, is always important. As a company, you are well aware of the advantages and advantages that your own product offers. But your customers don't have the same knowledge when you put your new product in front of their eyeballs.
It doesn't take much to tell a story. Focus on the benefits of the product, the value to the audience, the problems it has, and how they relate to the product. A detailed story involving emotions and senses will involve the entire brain of the client. When you tell stories, especially good ones, you will involve different areas of the customer's brain.
Getting a product in front of the customer is as simple as ever, but getting it right and right is one of the challenges. There are many cases where a product with defects fits perfectly with a customer but fails miserably. It all boils down to poor product promotion.
Greed can lead to seeing oneself as the universal product. They say that the more people you target, the better the results are, and the less likely you are to feel the sting of rejection and failure. This leads to making product marketing as vague as possible.
People will buy your product if you can get them to fall for it, not the other way around. What most of us don't realize is that creating a product that everyone loves is just as important as selling it and generating revenue. It may be a failure to develop a product that people need, sadly. There is almost no way to understand the psychology of a customer and what they may deem as "essential". Instead of fighting in a market with crazy, low, margins would make much more sense to compete in the higher margins area.
If you're one of the big, established brands like Kleenex or Coca-Cola with a huge budget, the advantage of the day is that you can monopolize the airwaves for those of you who can't afford even the bare essentials. Serve a niche market and you have a great chance to be heard. If the market is too full, you have to play it safe. Right now, you are not. Focus on, "now".
Learn how to refine and develop customer segmentation. You will go through a lot of heartache and disappointment when you realize that your idea is not worth a Trillion $. There is still a lot of work to be done, you have to start right away.
