What's New?

Few buyers can resist the urge to ask the question, "What's new?" Many promotional products sales persons feel compelled to answer this question instead of redirecting the inquiry toward solutions rather than products. In fact, many a distributor rep has been heard to boast: "If it's new, I know about it and probably have a sample ready to show." Industry trade shows are filled with suppliers pitching attendees on the latest version of "the best thing since sliced bread." In advertising and promotion, "new" is among the most attention-getting words in marketing.

While unique new products stimulate growth, create interest, provoke excitement and add vitality to the average sales presentation, they may not effectively solve the problem or satisfy the needs of the buyer. A recent publication by Peter & Donnely, Preface to Marketing Management, states that new product failure rates range to 90% depending on the industry. In fact, 80% of the promotional products purchased are "old", "tried and true" products with a track record of successful results.

So, while it's exciting to learn about the latest gadgets and trinkets available, it is much more prudent for a buyer to work with a promotional product consultant who is interested in discovering the business challenges of the customer and discussing approaches toward resolving these challenges. New solutions should take priority over new products