DaJobSucks

Killing your own product

Killing your own product; well that sounds completely ridiculous. Why would I want to kill a product that is selling well for me and which has made my business profitable. Why would I want to compete with myself.

Well, I can guarantee you that whatever product you make, sales will eventually flatten out during the end of the products sale life cycle. As competitors align and organize themselves, they will seek to "kill" your product and in most cases, when products die because of growing competition, it is very difficult to resurrect them as it may get lost in the sea of your competitors products.

So why should I kill my own product?

The simple answer is that you will be in control of your own destiny. I am not suggesting that you just take your product line out of stores, but you should make products specifically designed to replace your own product in the market. The new product should be better in all respects and more ingenious than any product competitors can even consider. This product should be created long before sales in the old product has flattened out. Preferably, you should have a fully developed new product when sales in the old product has started to increase. Promotion for your new product should begin at the point when sales for the old product is rising, because by this time, competitors and followers have released similar products. Your new product should be released close to point sales begin to flatten out. The later can be done earlier depending on the level of competition, but the trick is to be the leader and not the follower. You most be proactive and not reactive.

This simple concept will increase your chances of keeping your business competitive amidst waves of attacks by competing companies.

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