Sometimes, no matter how much a business promotes a product or service, it just won’t sell. At a certain point, the best option for the company may be to cut its losses and invest in the development of a new offering. In other cases, a few changes could make the product or service more valuable to consumers and more likely to be profitable.
How can business leaders decide whether to salvage or scrap a product or service that isn’t selling as well as it should be? Click to explore different methods company leaders can use to determine if an underperforming service or product should be tweaked and enhanced or discontinued altogether.
Lori Harris is a member of the Forbes Coaching Council, and Managing Partner of Harris Whitesell Consulting.
