…continued… from part 1 and part 2

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4 Warranty

Warranty is different from a guarantee. When someone guarantees you that the product is good, it is usually not in written form; mostly through words of the mouth but when there is a warranty, then it is written and it gives customers a sense of trust that you will either repair it or replace it if anything happens. So, if you are making a product, make it of good quality and consider adding warranty so you can earn the trust of your selected customers.

There are other issues like installation; if your product is the type that needs to be installed. You need to show how to or make provisions on how it would be easier on the part of your customers. Not many customers like relating with products that will stress them out or products that are complicated. It would make them lose interest in your product, no matter how good it is. When you make the process of installation easier and better, then the likelihood of loving your product would be high.

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[Source]

There is also after-sales services; if you want to inculcate that with your product and also about the functionality of your products. As I said, a lot goes into products and you need proper pricing too if you don’t want to lose the market as well as run at a loss. Pricing is important to any business.

You need to determine how much you want your customers to pay for your products and you need to be sure that your price reflects the quality of the product you are offering. Every customer wants satisfaction when they are parting with their limited resources just to acquire your products. It has to be worth it.

When you want to determine your profit, you need to put into focus your sales, your cost of sales; (all the things that made producing that product a reality), the gross profit; (when you deduct your sales from cost of sales), your operating costs; (which includes the fixed prices and variable prices in production) and your net profit; when all the cost of production has been deducted from the overall sales. No business wants to run at a loss and one of the many aims of providing goods or services is to make a profit.

THE END

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Thank you for your time.

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My pen doesn't bleed, it speaks, with speed and ease.

Still me,

My tongue is like the pen of a ready writer.

Olawalium; (Love's chemical content, in human form). Take a dose today: doctor's order.

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Request:

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