Designing a product line to seize a sizable profit from the information being sold

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Designing a product line to seize a sizable profit from the information being sold by Mind Map: Designing a product line to  seize a sizable profit from the information being sold

1. Designing your product line

1.1. Delay: Customers want the newest information from a company and they will pay more for the latest information. So, it's important for a company to gain access to the latest information and deliver it to their customers immediately.

1.2. User interface can be away to entice high-end customers by providing a unique and fancy website. This type of website can attract more experienced users.

2. How many versions

2.1. A good practice is to make high-end product and then devalue it in some form to obtain the low-end version.

2.2. A best way to decide if you're not sure on how many versions to offer, is to always default to three.

3. Online and Offline versions

3.1. The selling of information offline or online it can be the same as physically selling product that goes through separate passages.

3.2. Displaying information online can add more value and its more effective than being offline.

4. Adjusting price and quality

4.1. When discounting low-end items you should also do the same for the high-end items too. This way you can keep both customers happy.

4.2. The value-subtracted versions; in a lot of cases when it comes to expensive vs inexpensive products it can cost about the same to deliver. Sometimes, it can cost more to issue out an inexpensive product because it's a lower version of the high-end version.

5. Pitfalls and how to avoid them

5.1. A way to avoid a pitfall is to offer customers your high-end products only at a premium price.

5.2. The practice of offering low-end product to customers provide an alternate options which disclose how customers prefer to shop low-end product.

6. Customizing browser and content

6.1. A company can take advantage of the features of how users view images in order to gain value to the product.

6.2. Customers will be more willing to pay for websites that offers a faster upload. This often happens when a company offer their webpage with or without buffering.

7. Bundling

7.1. When bundling a product you must decide if you want a specific discount on one product to consumers who would buy the other products too.

7.2. Offering a product bundle can be a great way to introduce new products.