Determination of product or service: The first step to build your successful electronic store
The step to identify the product or service that you will provide in your electronic store is the cornerstone of building your project.
It will determine everything from the design of the store to your marketing strategy.
Why is this step important?
Focus: Focus on a specific product or service helps you build a strong identity for your store.
Deep understanding: Knowing the product or service well allows you to provide an accurate and convincing description of customers.
Supporting marketing: You can identify the target audience more accurately and direct marketing efforts to it.
Competition: It helps you to understand competitors and determine your strengths and weaknesses.
How do you choose the appropriate product or service?
Passion: Choose something that you care about and believe in. Passion will encourage you to continue even in the face of challenges.
Skills: Think of the skills you have. Can you produce the product yourself or have enough knowledge of the service you provide?
Market: Study the target market. Is there a request on the product or the service you think? Is there a strong competition?
Profit: Can you make a profit from selling this product or service? Estimate the expected costs and revenues.
Excellence: How does your product or service differ from other products and services in the market? What is the competitive advantage you offer?
Examples of questions that help you make a decision:
What is the problem that my producers or service solves?
Who are the target clients? What are their needs and desires?
What is the value I offer to customers?
How can I reach potential customers?
Useful tools in the search process:
Google Trends: It helps you to know how popular the keywords associated with your product or service.
Competition analysis tools: help you understand competitors’ strategies and determine your chances.
Opinion polls: Opinion polls to find out the opinion of potential customers.
Additional tips:
Start with one product: Don’t try to sell a large group of products in the beginning. Focus on one product and make sure it succeeds before moving to other products.
Specialization: Specialization in a specific product or service helps you build a good reputation and reach a better target audience.
Adaptation: Be ready to adapt to the market requirements and change your products or services if necessary.
Remember: Choosing the right product or service is the first step to build your successful electronic store. Set the time to research and study before making the final decision.
