First at all you need to ask yourself and answer these questions:
1.- Do you have Productive Assets ?, See Profitability
The Profitability of the Company
Is the profitability of my products satisfactory?
Is the Return on my Investments satisfactory?
The profitability of my investments are growing
2.- See Current Products in the Market, their current market percentage, their growth in the market month by month.
See the percentage of this new product in relation to income.
See how many units of the product are sold and how many customers or consumers (see number of customers or consumers).
See if I have the database of all these clients or consumers.
Is the sale of my products currently growing?
Will my potential or future products help me increase the income and the market cake?
Does the sale of a single product or a small group of products have the highest proportion of income in relation to its totality?
Do I offer a single product or very few and do all my income depend on them?
Have my number of customers or consumers of my products been increasing?
Do the units of the products I offer and sell have been increasing?
Do I have the database of all my clients, and do I have it segmented?
3.- See the Potential Profitability of each new product
Is each product profitable?
Is there a current product that is not being profitable?
Are my products profitable and above inflation?
Are my products profitable in hard currency – Dollar?
4.- See new products to come out and potential future sales and market cake possibility
Do New Products for Sale have the possibility of being profitable?
Do the new products have the potential to be sold enough in the market?
Will the new products increase my market share in these products?
5.- See current Customers, percentages of each one in relation to the total, See monopolies of clients, New Customers, See potential of clients
See what customers we do not have that we can reach them
Do I have few clients to whom I sell a lot?
Do I have a concentration of few clients?
Are my sales concentrated one or a few customers?
Do I have the possibility to reach them and sell them to new clients?
Am I looking for new clients that I do not have now and can I reach them in the near future?
6.- See the potential to reach the mass, to increase consumers or to have high income or low income consumers but mass.
Am I selling to the people and all the people?
Can I increase my income by selling it to the masses, to many consumers?
Do I have high income consumers as clients?
Can I find new income by selling to New High Income Consumers?
Secondly, you need to apply some solutions
Possible Solutions if you need it:
Solutions, Marketing Tips and Creativity you have to know and put into practice to be an entreprenur:
It is necessary to be creative in five (5) aspects when launching, do Marketing and Digital Marketing to new product or service into the market:
First: Creation of the New Product is necessary (that the product is unique, reaching the needs and desires of people that were not there before, generating monetary and non-monetary value, that the packaging is creative in package and design, intangible);
Second: The Strategic Communication of the New Product or Service is Necessary; Above The Line (ATL) and Below The Line (BTL) Creativity, Creativity in Design and Advertisement;
Third: Creativity in the Distribution Channel is Necessary with new technology and new digital and Social Media platforms;
Fourth: Creativity in Organization or Who makes the New Product or Service is Necessary (Creative Teams, Individual and Collective Creativity, Creative Environments);
Fifth: Creativity in Advanced Research and Consumer Behavior is Necessary (needs, desires and fondness), such as knowing the Target, taking into account the unconscious part of the people rather than the conscious part, having to learn the intrinsic, implicit, unseen needs, attachments, desires and what the consumers do not currently have. If Steve Jobs had only listened to the consumer, he would have improved the Mac computer and would have never invented the Ipad, beware of this lesson.
a.-Have I a New Products (Creative, unique product, that reaches the needs and desires of the people,that it did not have before, generates monetary and non-monetary value, that has creativity in packaging and design, creativity in intangibles)
Are my new products creative?
Do I have new Products unique in the Market?
Do my new Products satisfy the Needs of the People of my Consumers and Clients?
Do my new products satisfy the desires of the people?
Do my new products satisfy the needs of my consumers, needs that were previously not met?
Do my new products generate monetary value?
Do my new products generate non-monetary value (intangibles, Social Value, social benefit)?
Do my new products have creativity in the Packaging?
Does my new products have creativity in the design?
b.-Am I being Creative in the Strategic Communication of the Product or New Service (Creativity ATL and BTL, Creativity in Design and Advertising)
Am I creative in communicating my new products?
Is my advertising creative, innovative, new, current, modern and adapted to the times?
Am I being creative in my conventional advertising on my products?
Am I being creative in my non-conventional advertising – BTL- in my products?
c.-Am I being Creative in the Distribution Channels
Do I have new Distribution Channels for my new products?
Do I want to be creative or increase my creativity in my Current Distribution Channels?
d.- Is the Organization or who makes the new products or services being creative (creative teams, individual and collective creativity, creative environments)?
Are my work teams creating new products creative?
Do I have creative work teams in the Organization?
Do I maintain creative work environments in my organization?
Are the people who make the new products and services creative?
Is my Organization as a whole Creative?
e.- Are you being creative in advanced research and consumer behavior (needs, wants, desires and what currently do not have the consumers)
Am I being creative in market research to find a new consumer?
Am I advanced in the investigation and study of the behavior of my consumers?
Am I advanced in the research and in the study of the behavior of my new and potential consumers?
Am I reaching the needs of new customers and consumers?
Am I attracting new consumers to my client portfolio?
Am I reaching the wishes and desires of consumers?
Do I meet what consumers do not currently have?
Do I meet what new generations want with my new products?