All products are not equally sold in the market. Some are sold more some are sold less and some of the products die before they start selling.
Basically selling of a product depends how a product is presented to its customers in the market. How much a product
has demand in the market. How customer perceive it. How much a product fulfills (serves) customer’s requirements of quality and use. How often product is used and so on…
If you want to stand and keep selling your product in the market, you have to keep Eagle’s watch on the market to study the market and improve your product all the time.
Product can be improved basically by two methods:
A) Adding a new feature to existing product that makes it more attractive to consumers
- This involves research and development activities to reformulate the product based on the current market demand
- Change of complete product action plan (change of functionality)
- Change of complete product form and container ( change of cream product to serum product, change of container jar to treatment pump bottle)
- Add license or certification to make product more consumer reliable and trusted
B) Improving existing features of the existing product to make it more appealing
- Improving physical and chemical properties (Appearance, Viscosity, Color, Smell, Feel etc.)
- Adding new / removing existing ingredient
- Changing product action, claims, dosages and population group
- Removing chemical ingredients to make it natural or organic
- Modifying product formulation in compliance with licensing or regulatory requirements
- Transformation of packaging – new container, new design and new product label
- Reverse Engineering (Study formula, analyzing ingredients and their proportions, testing for properties, reformulating, retesting, and delivery of product samples)
- Amendments in existing product formula