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Price is also dependent on other issues such as service. If yours is faster and can help them get out of the office and on their way home more quickly, they want it. People are using their mobile phones to go online as much if not more than their laptops. Today’s consumers like to take things with them—they want apps and gadgets that are portable. Typically, the more easily accessible your products are, the better it is for business.Today, everyone is looking to save time, so products and services that help people do that are valuable. In most cases, you want to have products and services that people can get quickly.
Today, thanks to the Internet, you no longer need brick-and-mortar locations in many communities.
Scarcity, however, can also generate a higher demand, so you may have a marketing plan to release products at intervals and let the demand—and the desire—build.
For example, the items sold in a bakery or furniture store are typically straightforward.
However, numerous technology-based businesses, consulting firms, and health-related services deal in highly specialized areas.
Get out there and patent it, market it and sell it before someone comes along and steals your thunder.
You can also utilize technology to build upon products or services you already provide, such as an app. These are components of service that have become increasingly important, particularly for high-technology products. At its most extreme, reputation can literally keep you in business, as is the case with many companies, such as IBM and Wal Mart, whose well-developed reputations have tided them over in hard times. Your knowledge and the means you have of imparting that to customers is an important part of your total offering. We’ve done thousands of installations like yours, and there’s no doubt we can make this one work as well.” Nothing could be more soothing to a skeptical sales prospect than to learn that the seller has vast experience at what he’s doing. If you can offer overnight shipping, on-site service or 24/7 availability, it can turn an otherwise unremarkable product or service into a very attractive one. There’s a reason Peyton Manning makes millions of dollars a year from endorsements.For many sophisticated software products and electronic devices, a seller who can’t provide tech support to buyers will have no chance of success. Whether you “tote the note” and guarantee credit to anyone, offer innovative leasing, do buybacks or have other financing alternatives, you’ll find that giving people different, more convenient ways to pay can lend your product a convincing strength. Excellent service is perhaps the most important thing you can add to any product or service today. Retailers of auto parts, home improvement supplies and all sorts of other goods have found that simply having knowledgeable salespeople who know how to replace the water pump in a ’95 Chevy will lure customers in and encourage them to buy. If you have ample experience, make it part of your selling proposition. People want to relate to Peyton and share his aura, if only obliquely. There are many wild cards unique to particular products, or perhaps simply little used in particular industries, with which you can make your product stand out.In a world where word travels fast through social media, you want to provide top-notch customer service. For instance, consider a service agreement guarantee.In this edited excerpt, the authors offer a look at 15 factors you can use to make your product or service stand out from the pack.In your plan, it’s important to be able to build a convincing case for the product or service upon which your business will be built.How can both mass popularity and exclusive distribution be strengths?The explanation is that it depends on your market and what its buyers want.The product description section is where you do that.In this section, you'll describe your product in terms of several characteristics, including cost, features, distribution, target market, competition and production concerns.For assistance in preparing or refining youir business plan, you can check the All in-depth guide “Tools that Can Help You Write Your Business Plan,” which includes templates, PC-based “wizards,” and other helpful software., the staff of Entrepreneur Media offer an in-depth understanding of what’s essential to any business plan, what’s appropriate for your venture, and what it takes to ensure success.