This is the fifth part of a five part series, diving deeper into individual points from the post : “5 reason’s your product is not at retail”
5 – You don’t know your competition
Selling to retail isn’t done in a vacuum. Other companies are out there pitching selling options for your product. Probably selling the exact thing that you are.
Every time I’ve heard of a new, ground breaking product that no one else has, there is another. We can argue about features and we can debate how to categorize the product. But there is competition for your product out there.
Your job is to know about it and to know the difference’s. Hopefully, your product is superior in too many ways. You don’t have to bring up the competition, unless you are entering a crowded market place that you need to differentiate yourself in.
The point is: as big as the world is, in today’s limited retail environment, it is a small world. You better know what is out there…