ETD: 758 What is best alternative to bring new product to market?; My new online store; Cuban Entrepreneurs

[E-Tailer's Digest]

  E-Tailer's Digest --- Everything for the  Retailer
  Issue #0758                     February 5, 2004
  George Matyjewicz, Moderator         mailto:georgem at gapent.com
  Published by:  GAP Enterprises, Ltd.  http://www.etailersdigest.com
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   CONTENTS

  [1]  Greetings
  [2]  What is best alternative to bring new product to market?
  [3]  My new online store
  [4]  Cuban Entrepreneurs

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  [1]  Greetings.
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Hi All:

Today we have some requests from list members on how to bring products and 
new stores to market.  This should be good fodder for discussion.  How 
about helping out with your expertise?

I will be in London on business the week of Feb 16-20 and need some special 
reports.  How about something that would be of interest to our 
readers?  1,500 - 2,500 words.  And it will remain for posterity at our 
site. http://etailersdigest.com/resources/Specials/index.htm

I read an interesting piece on the topsy-turvy world of business in 
Cuba.  Which got me to thinking that the U.S., and probably other parts of 
the world may have similar issues.  What do you think?

Let's hear about your business,  which will remain  for posterity at 
our  "Members: Who Are You?" site. 
http://etailersdigest.com/resources/members/index.htm And we have a form 
there for you to tell us about you.  As I said when I first proposed this 
idea, we have "known" each other for a long time, yet we often don't know 
anything about each other.   So, tell us who you are and what you do.

Now, let's get to everything for the retailer.

Sincerely


George Matyjewicz, PhD
Chief Global Strategist, GAP Enterprises, Ltd.
mailto:georgem at gapent.com
http://www.etailersdigest.com
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  [2]  What is best alternative to bring new product to market?
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Over the past couple of weeks I have gotten a number of inquiries on 
bringing a product to market.  I conferenced with one company for an hour 
and we discussed varied options.  So, I thought I would bring some of these 
ideas to our members to get your thoughts.

Here's the premise:  "I have a patent on a unique product <identified to 
moderator and can be gift item or kitchen item> and want to bring it to 
market.  I have 200 coming in from China with two deliveries following that 
with a total of 5,000 units.  They will retail for $29.95.  What is the 
best way to bring the product to market?"

So, folks what do you think?  What do you think works best?  Selling to 
chains? Independent retailers? As infomercial?  On QVC/HSN? Online?  In a 
brick & mortar store?  Licensing?

Let's get some dialogue going.

George

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  [3]  My new online store
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I would like to be informed on the latest trends and e-commerce events. I 
am in the process of establishing an online store and could use any advice 
and recommendations from your community.

Thank you.


Priscilla,
Owner, E-snaps
Dallas,TX

+++ [Moderator's Comments] +++
You didn't tell us what E-snaps will sell, so it's very hard to make 
recommendations. Some areas to consider:
1.  Have you registered your business as a legal entity, i.e., corporation, 
partnership, LLC, d/b/a?
2.  Have you gotten all the necessary permits to operate a business in your 
locality?
3.  Have you registered with the sales tax bureau to collect sales tax?
4.  Do you have a URL registered? (e-snaps.com is registered by Tucows)
5.  Will you take credit cards, and do you have a merchant's account?
6.  What do you want to accomplish with an online store?
7.  How do you plan to reach your target audience?
8.  Why should somebody buy from you?
9.  What experience do you have?
10. What is your budget?

These are just some of the questions.  I'm sure our list members will have 
more.

George

+++ Next Post +++
I would like to know about the current events -  the competitors in the 
market their strategies,etc

Vidisha Bagree
Fashion Institute of Technology

+++ [Moderator's Comments] +++
See above.  I assume you are a student at F.I.T. - the premier school of 
fashion in the U.S.  So, tell us more of what you seek.

George

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  [4]  Cuban Entrepreneurs
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In a Business Week article they discussed how  menial service providers are 
the nation's entrepreneurs, at the top of the economic ladder, earning 
hundreds, and sometimes thousands of dollars a month..  On the other end of 
the spectrum, doctors, lawyers, and architects earn $10 to $30 a month. 
(Imagine, trial lawyers and surgeons making a dollar a day!)

It's an interesting concept, and a questionable one.  While I agree that 
professionals may earn more than what they are worth, why would they want 
to go through all that schooling to earn $1 a day?

I also believe we have similar circumstances in the U.S., in particular 
with trade people.  I recently had a plumber spend 20 minutes at our home 
and he charged $160 plus parts!  When I mentioned to him that my doctor 
doesn't even charge $480 per hour, he replied "I know.  That's why I gave 
up my medical practice."

Here's the article.
http://www.businessweek.com/smallbiz/content/jan2004/sb20040126_8082.htm?c=bwfrontierfeb3&n=link1&t=email

What do you think?

George

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