how to efficiently sell something

strantor

Joined Oct 3, 2010
6,782
I've taken steps in the direction of inventing/building/selling a product, and the wall that I ran into was salesmen, or the lack thereof. I don't generally like salesmen, but I now have a greater appreciation for the role that they play.

This was for an unprecedented product, so it would be highly unlikely that someone would discover it through a web search. Nobody knows it exists or how much money it could save them if they had one, so I need salesmen to go out and convince people that they need it.

I'm no salesman. I shudder at the thought of walking up to somebody who is busy and doesn't have time to talk to me, doesn't want to talk to me, and probably wouldn't want to talk to me even if they did have time, and try to sell them something they've already decided they don't want before they even know what it is. Not my thing. I'd rather arrive on a white horse in time of need and be welcomed as a savior to fix broken things.

So I'm still in the process of trying to convince the president of the company that I work for, to manufacture and use his sales force to push my idea. I'll let you know how that works out.

If your idea is something like that; unprecedented, nobody knows it exists and won't be searching for it, then you might be better off selling the idea to an entrepreneurial company who has the means to push it/ create a market for it.

But, if your product is something that already exists and you've come up with a better and/or cheaper variant of it, then you could probably get all the exposure you need by just by putting it online, with a keyword of your competition so that it comes up when someone searches for your competition's product.
 

GopherT

Joined Nov 23, 2012
8,009
That's why I thought kickstarter would be a good start, you do market research before actually making tons of the product.

I am reluctant though because you have to expose yourself, I do not like my name to be found on Google...
If your new product is anything like your avatar, then I will take two. I have some people on my Christmas list who are tired of getting a lump of coal.
 

Thread Starter

praondevou

Joined Jul 9, 2011
2,942
I'm no salesman. I shudder at the thought of walking up to somebody who is busy and doesn't have time to talk to me, doesn't want to talk to me, and probably wouldn't want to talk to me even if they did have time, and try to sell them something they've already decided they don't want before they even know what it is. Not my thing. I'd rather arrive on a white horse in time of need and be welcomed as a savior to fix broken things.
LOL!

Seriously, start a writing career! You are in the wrong profession.

The product doesn't exist, but I know of people who would be happy having it.
 

MaxHeadRoom

Joined Jul 18, 2013
28,617
you do market research before actually making tons of the product.
.
Setting the price is always a hard decision, I have been in the same predicament, but what you have to look at is your market.
If it appeals to the masses, chops,dices, slices etc, then you have to get it out there in large numbers ASAP, large numbers, low mark-up, as if it catches on, someone is going to duplicate it and under cut you.
If it is a limited market, is it hobbyist based or industrial/commercial?
In the case of the one product I came up with, I found a certain limited industrial market where there was a demand to reproduce early technology with S.S. device.
The potential numbers were not enough for the large Co. to invest development time for the amount of return, so although yearly quantities were small I was able to sell for a very high mark up, fortunately I had no competition..
Like you, I may be in the position again soon as I am presently working on a Hobbiest based device.
Max.
 
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GetDeviceInfo

Joined Jun 7, 2009
2,192
My father had the need for a little device like that and then I read on several forums from people who have the same need... So posting on the appropriate forums seems to be a good idea. It's an automotive related accessory so I won't go into details.

As for the financial capacity... I mean a seller always wants to sell for the highest price possible, whereas for the buyer it's the contrary. I never understood how prices are being established when a product is first launched
A seller should determine the price point at which a product will return the desired profitability. A market analysis should determine what a consumer will pay for the product. For an automotive product, you may consider exploring distribution through established channels, which may mean presenting your product to the buyers of national retail chains.

A good friend of mine starting backing cakes in his girlfriends apartment. He is now owner of the largest desert cake manufacturing in Canada. They don't sell retail, but distribute to major retailers.
 

Brownout

Joined Jan 10, 2012
2,390
Also, most family-owned businesses have margins less than 3% so the 5 to 10% commission paid by Jameco is not bad - consudering that you have no inventory, no advertising, no distribution costs or effort, no product liability insurance, no incorporation costs to minimize personal financial risk from lawsuits.
That's a great deal. Thanks to those who posted it. I going to check this out.
 
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