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Thursday, January 05, 2017

The New Year has arrived – a great time to evaluate your organization overall to ascertain what is working and what needs some attention. Call me old-school, but my review employs the Five P’s of marketing: product, price, promotion, place, and profit. Two areas of great focus should be product and price.


Let’s begin with product. When you have a misfit product the public does not want, only a very low price has the possibility to attract people to it. Whether you are considering new inventory by way of expansion of homes and/or services or through construction of a greenfield, it is crucial to examine the following product areas with a critical eye:

  • Size
  • Configuration
  • Current trends in finishes, paint colors, floor coverings
  • Appeal to specific personas
  • Design innovation
  • Unique selling proposition
  • Sustainability

Assess each attribute by asking the following questions to determine if implementation is a “go” or a “no-go”:

  • Is it competitive with other offerings in my primary market?
  • Does it appeal to the personas my community is attempting to attract?
  • Does it attract possible influencers of the decision-makers?
  • How does this product fit with other inventory within my community?
  • What is the potential longevity of the product?

Examining Retirement BasicsStay tuned as we further dive into the well-being check-up of an organization’s product and pricing.

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