hollister womens coats Diversifying to Survive is What Product Managers Are Doing

It seems almost like an impossible challenge: find ways to constantly make your product(s) both more popular (more sales) and more profitable (better prices). When confronted with this challenge, it's all too easy for product managers to shrug, throw up their hands, and then focus instead on rolling out the next product or version of an existing product. However, if you are going to survive,discount hollister mens plaid shirts outlet, then this is a problem that you are going to have to find a way to solve.It's All About DiversifyingIt turns out that the key to survival is to broaden your product's appeal to new markets while increasing your profitability among existing customers. Now these are fine words, but exactly how to do them is the challenge that product managers face.Knowing who your current customers are is the right place to start. Once you have a list of who has bought your product in the past, you can start to do some segmentation. More often than not most of your existing customers will have something in common: company size,cheap hollister classic shirts for men sale, customers that they are going after, type of products that they sell, etc. Once you know what these characteristics are you can start to identify potential customers who occupy segments that are similar but different.Three Ways To Diversify And Boost ProfitabilityIn order for a product manager's product to be a success, it needs to generate a profit when it gets sold and it needs to get sold as much as possible. Here are three thoughts on how to make both of these things happen.
Cut back on extra services that aren't boosting the bottom line: this can be a painful and difficult thing for product managers to do. Over time we keep adding additional services to our products in order to keep them competitive. Over time we lose sight of whether these services are why our customer is buying our product. Often they no longer influence the buying decision and yet they are still costing us money to provide them. It's time to drop them now,hollister jack wills hoodies for men.
Favor Groups Over Individuals: when you start to focus on your product's bottom line, you quickly realize that it's always better to have more customers than fewer customers. This will serve to insulate you when market downturns occur. To make this happen, sell a single product or service to a group of people for a lower price instead of one higher priced product / service to just a single customer. This may require some product redesign,hollister sweaters for women, but it will be worth it in the long run.
Maximize Free Advertising: If you are going to increase your customer base,hollister womens coats, then the word is going to have to get out about your product. In this era of the social network, one sales fact remains true - people believe what their friends tell them. The group approach enhances word-of-mouth advertising. The more satisfied customers you have, the more free advertising you'll get.Final ThoughtsIncreasing the number of customers that your product has while at the same time boosting your product's profitability is possible to do. The trick is to diversify your customer base while trimming costs at the same time. I'm not saying that this is easy to do, but if you can find a way to do it for your product, then you will have found out how great product managers make their product(s) fantastically successful.