Will your business expand faster by selling new products to existing customer or selling current products to new customers?

[Jlife]

It will depend on the demands of the people ,because there are some people that are always interested in the older products maybe they just believe that it is more superior compared to the new one that is being produced.

 

[Justin]

You can expand your business by selling to new customers in new market as well as selling the same products in the same market. It depends on the kind of products you are selling.

 

[BrolySSJ]

You can expand your business by selling to new customers in new market as well as selling the same products in the same market. It depends on the kind of products you are selling.

Exactly! People often tend to see this as a one or the other sort of situation however if you have a balance between the two this is the best chance of success for your business in the future. It will gain loyal customers and have new customers as well.

 

[tyrim88]

To answer this ultimate question, you may want to compare how long it will take and how much it will cost your business to capture the growth with each option in order to determine which is the better course.

To find that out, here are three steps:

a. To locate a prospect, close the deal, and collect the cash, estimate the time required and the cost for your company.

b. When your business produced and sold the last new product, calculate the time it took and the cost.

c. With the lowest cost and fastest time to market, pick the option.

These three basis are essential when taking a decision to make, hope it helps you. Please share your feedbacks below.

This is a good postulation,but most times the business terrian and dynamics can actually alter a lot of things.In our own case,we found out that most customers we get while still on our existing product,came becausse of how quality our product is,and also the pricing we kept the product.And for far distant customer,our courier do the delivery for them at very minimal cost.

 

[gammarays]

You expand your business with both options. A business should have existing goods and new ones according to their niche. You can sell new goods and old stocks to old and existing customers.

 

[Kelly5]

Wether old or new customers. Old or new products. All that matters I business for you as a business owner is to see that you are able to sell off your products to all and sundry and make your profit

 

[Thinker009]

The business would expand more if you are selling new product to new customers, because they are the ones to fetch more customers when they see that your service is good

 

[Jlife]

The business would expand more if you are selling new product to new customers, because they are the ones to fetch more customers when they see that your service is good

Customers sometimes do not actually care if the product is new or the older one, they always care about the satisfaction of the products to them and that is the most important thing.

 

[Yusuf1]

I think it will be better to sell new products to existing customers just because of the fact that it will be very easy to convince the existing customers that have been patronizing me before with faith

 

[Good-Person]

I do not think that we should differentiate or discriminate against our customers. We must take good care of all of our customers and make sure we provide excellent services to all of them regardless of whether they are old or new customers.

 

[Thinker009]

Customers sometimes do not actually care if the product is new or the older one, they always care about the satisfaction of the products to them and that is the most important thing.

Some customers still likes new products , like take for instance new phones ,and trending clothes and gadget's ,they love it , they don't want old models and others that less inferior

 

[Jlife]

Some customers still likes new products , like take for instance new phones ,and trending clothes and gadget's ,they love it , they don't want old models and others that less inferior

Ok in this case it depends on your marketing strategy that will determine how and which type of product you will sell to your customers, phone is rebranding and that is very profitable.

 

[Setfragil]

Your business will expand the both ways. You have to sell new products to existing customers and introduce old and new products to new customers to improve your sales patronage.

 

[Richard92]

It depends on the type of product and it's quality. If your customer thinks your product sucks after buying, I'll advice you keep looking for new customers every now and then. Or you simply work on your product.

Your business will expand by selling present products to new customers and also improving on the brand of those products all this will help to improve the business.

 

[Thinker009]

Ok in this case it depends on your marketing strategy that will determine how and which type of product you will sell to your customers, phone is rebranding and that is very profitable.

Yeah marketing technique differs , there are some marketing strategies and technique that you would make use of and get more profit than expected , so they differs

 

[Hena101]

Though business can expanse in both cases but it's good to sell new product to existing customers because you will retain them and at the same time making new customers.

 

[Josemendez]

Business that have the same number of customer for months is not expanding . It is Paramount that they keep the customer base growing by attracting new customers to their products

 

[Setho]

Your business is going to actually flourish depending on which type of product selection you do and also if you apply the right marketing strategy.

 

[Senator]

All that matters for your business at any given level is that it is making sales andore and more more customers are making demands for your products. Why restrict yourself business to one class or set of customers in the first place?

 

[Jlife]

Yeah marketing technique differs , there are some marketing strategies and technique that you would make use of and get more profit than expected , so they differs

I know there are a lot of different strategy for business but you need to search the one that will be suitable depending on the type of business you are doing because this will really help you to succeed.