Question

Your employer has tasked you with increasing sales of a product that has great potential benefits for consumers. However, sales have not been as projected before the project was approved and corporate resources diverted to the development of this product. As a result this product is loosing money. What would you do in order to meet this assignment? What internal and external variables would you consider?

Answer 1

I would conduct large scale advertising campaigns to explain to people the benefits of the product. I will also hold interaction meetings with consumers like conducting roadshows. Besides internally I would replace persons who have not promoted sales much with more efficient individuals. I will also consider offering initially product at lower prices so that people are encouraged to use it and lean benefits of the product. In this way they will consume the product even when prices are raised because it has large scale benefits to public. I would even use social media to spread awareness. Furthermore I will associate myself with groups that sell related products E. G if it is juice with health benefits I will coordinate with doctors and sportsperson to increase sales