How do you come up with the best and most successful Sales Strategy? There’s a lot of advice out there that says you’re ready if you have a written plan, a solid process, and a team of reps who know your solution inside and out. What Is Product Oriented Sales Strategy Well, not quite? The problem is that most sales strategies don’t focus enough on the customer.
They do a good job of writing down internal procedures, but they lose sight of the messages and skills your reps need to communicate value to your prospects and customers.
Understanding What Is Product Oriented Sales Strategy
In a product-oriented sales strategy, the focus is on the product. A product orientation is a way of marketing in which a company focuses on one product and puts all of its efforts into making it the best it can be in terms of quality and performance. What Is Product Oriented Sales Strategy On the other hand, market orientation is a way of running a business that puts the customer first.
A product orientation is a business strategy that focuses on making and selling high-quality products that people want. In other words, a business that focuses on its products thinks, “If you build it well, people will buy it.” On the other hand, a strategy called “market orientation” looks at the market.
The biggest difference is that product-oriented companies make products that they think will catch people’s attention, while market-oriented companies make products that are made to meet people’s already-existing interests. What Is Product Oriented Sales Strategy Look at definitions and examples of companies that use this strategy to learn more about product orientation?
Even so, product orientation is still an important part of the market strategies of most companies. During the product orientation stage of making a product, research, development, and a focus on the product are given a lot of attention.
1. Product Research
Product research is important if you want to start a business or sell a new product. It helps you figure out how likely you are to be successful. What Is Product Oriented Sales Strategy Product research can include a wide range of tasks, such as evaluating and testing product ideas, figuring out how much competition you’ll have, figuring out how much the product might cost to make, and setting the price so that you can make a profit.
2. Product Development
This is a big part of the process if a business’s main focus is on its products. Even though there are a lot of different things to do at this stage, the focus is on making the strongest process possible to make sure demand. What Is Product Oriented Sales Strategy Usually, development means making and designing a new product or finding ways to improve an existing one. It can also mean building and testing the product, as well as making, selling, and distributing it.
3. Product Focus
Product focus means making plans for things like how to sell, how to make, and what metrics to use. What Is Product Oriented Sales Strategy By putting their attention on the product, companies try to keep improving it so they can stay competitive in their industry.
Practical Use of Product Oriented Sales Strategy
Even though we said that many companies use both market orientation and product orientation, there are some that use product orientation more. What Is Product Oriented Sales Strategy Most of the time, these companies are the ones who come up with hot new products that people didn’t even know they wanted. Some examples include:
Before Steve Jobs and the Apple team became the tech stars they are today, no one had really thought of the iPod, iPhone, iPad, or anything else that starts with “i.” Yet Jobs and his team were able to make a lot of money by making these and other revolutionary new products that they correctly predicted would be in high demand. What Is Product Oriented Sales Strategy
Technically, Netflix is more of a service than a product, but by making it easy for customers to get the latest movies and TV shows, Netflix made big video rental stores like Blockbuster obsolete. What Is Product Oriented Sales StrategyAgain, the company was successful because it found a convenient option that most people didn’t know existed.
Robinhood is an app for investing that has changed the way people trade on the market. Less than a decade ago, most people couldn’t invest in the stock market because brokerage commissions were so high. Then, Robinhood made a trading platform that anyone could use to get in on the action without having to pay commissions.
Because the service was so popular, other brokerages like TD Ameritrade and Etrade had to go commission-free in order to keep up. Robinhood took a product-oriented approach because it found a problem in a certain industry and fixed it in a way that no other company had thought of or tried to do.
Benefits of Product Oriented Sales Strategy
As was already said, companies that focus on their products often come up with new products or services that fill a need in the market. At least, in the beginning, being the first business to sell a product or provide a service often means being the only one to do so. This is what happened to Netflix when it added digital streaming to its mail-delivery DVD rental service in the early 2000s.
What Is Product Oriented Sales Strategy Innovation has a downside in that when something works, more businesses try to sell it. By 2008, Hulu was already giving Netflix’s streaming service a run for its money. Today, these companies have to compete with Amazon Prime and services from individual networks and studios like Disney+ and Peacock. The point is that innovation can only get you so far.
Quality is usually the most important thing for product-based businesses. These companies know that their products need to be good because they want them to sell themselves in some ways. What Is Product Oriented Sales Strategy This method can save you money on advertising, but it doesn’t always take into account other things.