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  • Introducing The Three E's of Product Selection

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    Sathish Kumar J
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    The document discusses the three E's of product selection - experience, education, and enthusiasm. Experience with a product increases the chances of success in introducing it to a market. Education expands one's knowledge and experience with a product. Enthusiasm for a product is needed to convince others to buy it, even if experience and education are present. A case study is provided of a woman who successfully started an importing business for crystal glassware due to her experience learning about the product during time abroad, education on importing, and personal enthusiasm for sharing the product with others.

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    Introducing the Three E’s of Product Selection

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    Introducing the Three E’s of Product Selection

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    The document discusses the three E's of product selection - experience, education, and enthusiasm. Experience with a product increases the chances of success in introducing it to a market. Education expands one's knowledge and experience with a product. Enthusiasm for a product is needed to convince others to buy it, even if experience and education are present. A case study is provided of a woman who successfully started an importing business for crystal glassware due to her experience learning about the product during time abroad, education on importing, and personal enthusiasm for sharing the product with others.

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    47 views2 pages

    Introducing The Three E's of Product Selection

    Uploaded by

    Sathish Kumar J
    The document discusses the three E's of product selection - experience, education, and enthusiasm. Experience with a product increases the chances of success in introducing it to a market. Education expands one's knowledge and experience with a product. Enthusiasm for a product is needed to convince others to buy it, even if experience and education are present. A case study is provided of a woman who successfully started an importing business for crystal glassware due to her experience learning about the product during time abroad, education on importing, and personal enthusiasm for sharing the product with others.

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    © All Rights Reserved
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    Introducing the Three E’s of Product Selection

    After you’ve answered these preliminary questions, you’re ready to look at the
    three E’s of product selection: experience, education, and enthusiasm.

    The three E’s will help you narrow that infinite set of product options to a much
    more manageable list, and eventually to a successful business venture. I cover the
    three E’s in the following sections.

    EXPERIENCE

    The key to being successful with a product is having experience with that product.
    The more you know about the product, the greater the chances that you’ll be
    successful.

    When I left the corporate setting and decided to form my own import/export trading
    company, I decided to focus initially on health and beauty aids and disposable
    medical supplies.

    I made this choice because of my experience in the industry. (I had just spent ten
    years working in that area, and it was something that I knew a lot about.)

    You have an infinite number of product choices. Start by reviewing your own
    background. Look for areas in which you may have some specific experience — this
    experience can come from your employment background, a family contact in another
    country, or simply a hobby.

    The key when trying to introduce a product into a market is knowledge, and
    experience is that link that will provide you with the knowledge that you need to
    be successful.

    EDUCATION

    Many people fail because they think they know it all. There will always be new
    things to learn, and the sooner you learn that, the more successful you’ll be.

    Product knowledge is important, and education is the key to gaining that knowledge.
    Use education to expand and develop your base of experience.

    Reading this book is a good place to start, but don’t stop here.

    Take business classes, visit the country you’re interested in exporting to or


    importing from, meet with your prospective customers — you can never have too much
    education or too much information about your product and your business.

    ENTHUSIASM

    You must enjoy selling your product. If you aren’t enthusiastic about your product,
    you’ll have a hard time convincing someone else that she should buy it from you.
    You can have the experience and use education to fill in the blanks,
    but if you aren’t enthusiastic about the product, it simply won’t work.

    One of my colleagues was awarded a one-year academic fellowship in the Czech


    Republic. While he and his family where abroad, his wife became very interested in
    crystal giftware items that were designed and produced there.
    She used her time overseas to meet with manufacturers, selected a category that she
    was particularly fond of, and negotiated some prices and selling agreements.

    After they returned home to the United States, she continued to express her
    interest in starting her own business importing this line of crystal glassware.

    Her next step was to learn about the process of importing and figure out what she
    needed to do to set up such a business.

    On the advice of her husband, she attended my seminar and learned all the specifics
    of dealing with suppliers, customers, and U.S. Customs regulations.

    Working on her own, she started to realize that she enjoyed going out there meeting
    and introducing clients to the products that she really loved.

    She enjoyed sharing the stories of her visits to the factories and the devotion
    that many of these craftsmen had toward the quality of their products.

    She enjoyed the challenge and that was a result of her personal enthusiasm for the
    product that she selected.

    She had the experience (product knowledge). She used education wisely.

    And she had enthusiasm — the final key in evaluating and selecting a product.

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