Lutz Braun Blog

Attractiveness of our Product Range

04.09.2019

The range of products is an essential part of your success. But most of the time, this aspect is ignored. Certainly, you develop new products and you remove old ones, this also depends on the individual product cycles. But you also have to think about how attractive your new range of products is. Ask yourself the following questions on a regular basis:

  • What kind of margin do we have with our products or product groups?
  • What kind of products suits our company, which ones not (anymore)?
  • Do I know our “top sellers” or also our “bad sellers”?
  • Do we have products that do not suit our core competence, but which have a high margin? Or vice versa?
  • Are our prices attractive?
  • Have we already dealt sufficiently with the topic “pricing”?
  • How do we fix our prices?

Every entrepreneur should have a look at his range of products. For me, the analysis of our product range was an eye-opener and it resulted in several changes and improvements.
An advice: ask yourself whether the customers pay the price that corresponds to the real value of the product?