Fundamental Project Range

[PaxRomana27]

Hi there,

Background
My company sells a range of products within a single market. Similarly to many other companies globally we have products that are absolutely fundamental to the work of our customers (pens pencils etc), and some products that improve the quality or their work, save them time, etc. At this time many of the consumers in the market are dealing with a restricted budget.

Taking all this into account, I have an idea to create a fundamental product range on our website. This would include all products essential to the day-to-day activities of our consumers. My thought process behind creating this range would be so consumers are more likely to see this range and then make all their day-to-day essential purchases from one single source, us.

Question
I'm sure this is not a new idea, but is there any research/ case studies that would shed light on the advantages/ disadvantages of this idea? I'm also happy to hear any advice/ criticisms or opinions you may have.

Thanks

 

[IanSuth]

i would guess you will need to differentiate from your current standard range to not cannibalise sales from those higher margin versions. If the "fundamentals" range is "good enough" why would they pay more for the current versions

 

[WaveJumper]

Are you sure its a 'budget thing' and not just the time of year, a pens a pen if you need one you need one (although cannot remember the last time i did personally) back in my corporate days come this time of year the focus was not on budgets but winding up projects before the Christmas shut down

 

[PaxRomana27]

Are you sure its a 'budget thing' and not just the time of year, a pens a pen if you need one you need one (although cannot remember the last time i did personally) back in my corporate days come this time of year the focus was not on budgets but winding up projects before the Christmas shut down

Yes, my company sells to teachers and schools.

 

[GraemeL]

It's not a new idea. All of the Contract Stationers (such as Lyreco) have a core range, or will create a personalised core range for a single customer. The focus of the core range is definitely low price. Often they will create a page on their internet ordering system specific to a school or school buying group such as ESPO. See this.
Judging your company by the question you have asked, I very much doubt that you could be competitive by following that route as your competitors are huge. No way would you match their buying power from worldwide sources.
By publishing your core range openly on a website, you invite competition.

If you want good research in that market, this is the company to use.