brand, sell, distributionI am new to the whole concept of entrepreneurship and bringing a product to market. However I have been developing something that is currently still in its beta phase, but hope to within the next 6 months bring it to market. My product is for more of a niche demographic and thus will not be considered for mass marketing to the general public.
So the question:
1) Is a company website that builds the product the best source to sell/advertise from as the sole distributor of the product
OR
2) would it be better to contact companies that already are established in that niche market, and have my product available from multiple websites.
What builds the most brand recognition and prestige? My first thought is that a single source to buy from the company website would make it more exclusive, thus more attractive. This prevents the product from being lumped into a general pile of other products, thus no longer sticking out from the rest.
BUT then their may not be as much visibility on the product. So its a damned if you do, damned if you don’t scenario.
Or I suppose you could just do both?
Any suggestions?
Thank you.
Generally in these situations i recommend at first going where the market is rather than have them come to you, proving the need, whilst building up an online presence and marketing.
So for example i had a client who sold craft materials. They listed their materials on online market places (Amazon etc ) these places have actual people looking to buy stuff - ideal but cuts your profits and limits your control of the messaging etc.
This proved there was a desire for the product with the smallest marketing cost. Once proof the market exists then they consider spending money on e-commerce and online marketing to get an additional stream of revenue, with potentially larger profit (if you control your marketing spend) and better control over the brand, messaging and interactions with the customer, ease of expanding lines etc.
Then they move people across to buying from them (discount codes etc) rather than the market places. Although the market place is a very handy initial contact or way to acquire new customers.
It’s a long process but the important thing was the product was in customer hands early - evidence people want it is vital.
Obviously this all needs far more strategic thinking, but that’s an overview of how I’ve done it in the past
All content is licensed under CC BY-SA 3.0.