Less is more: believe it or not, setting your sights a little lower could be the key to marketing your new product

Entrepreneur, August, 2003 by Don Debelak

2. Seek out new market opportunities. When Ross began, scrapbooking was a fairly new market. New markets change rapidly. Retailers prize innovation and seek products that meet customers' needs. But large companies often can't adjust their product lines fast enough to keep up with changes, so inventors have an edge.

3. Sell a product line that customers think is important. Retailers may or may not stock all the little extras and add-ons customers might like. But they always stock the broad product line, like Ross' line of papers, borders and accessories. Package your product into configurations that offer customers lots of value, and you're bound to receive big orders from the independents.

4. Love your product and your industry. Independent store owners are typically in business because they're devoted users of the products or are otherwise big supporters of the industry. Your enthusiasm for your product might not mean much to a big retailer, but it's a major advantage with independent retailers.

5. Avoid the big retailers. Independents like to sell a unique product line, and they'll often drop your product if it's available at a lower price from a mass merchandiser.

RELATED ARTICLE: BAD NEWS FIRST?

The new about new product launches in 2002 is good and bad, according to Productscan Online (www.productscan.com), from Marketing Intelligence Service Ltd. a leading researcher of new products. The bad news? Their count of new product introductions in 2002 hit 31,785 up sharply from 15,886 introductions in 1992. The good news is, only 8.8 percent of those products earned the company's highest innovation rating. These statistics suggest that big companies, which need to introduce new products often, may need the help of inventors to come up with truly innovative offerings.

AMAZON.COM WANTS YOU

Millions of people visit Amazon.com every week. Wouldn't it be great if they all had access to your innovative product? Now you have that chance: Amazon.com is currently looking for innovative products to feature on its site. For consideration, send an e-mail to ideas@amazon.com that includes the following: product description, price, how long it's been available (or its release date), where it's currently sold, who manufactures the product and how you currently distribute it. Following an evaluation process, some products will be selected for inclusion on the site. For details, log on to www.amazon.com/exec/obidos/tg/feature/-/413471/103-4492008-177345.> Don Debelak is the author of Entrepreneur Magazine's Bringing Your Product to Market. Send him your questions at dondebelak34@msn.com.