This product segmentation framework is to help you better understand your own product lineups, giving you a current picture on your own existing products. Therefore, at the end, you can decide should you want to add some more new product or services into your current layout or remove any unpopular items from your lists. So, but before we begin working on this framework, please do take out a piece of paper and list out all the available products and services that you are currently offering at this particular moment. Then group your product accordingly to the segment boxes prepared in this framework. So I'm going to share with you in detail how can you work on this framework? Okay, the first I Fox boxes that we look at is the give away boxes.

So if you look at this, what are the some of the give away free product You are giving away to your prospect. The objective here is to generate leads and build trust. So for example, in terms of giveaway, it may not necessarily have to be the sample of your product. But sometimes it can be something which just absolutely cost you nothing. Example like if you are giving away ebooks, or some how to do videos that will teach your prospect on something that you are currently offering. So giveaway item can be something like this a total digital item that you give away for free.

So go back and ponder What can you give away for your customer in order to generate leads and build trust and trust. Second, let's look into the basic item and best seller. I'm sure that in your business you definitely will have some basic item that you sell but primary is to get your business as usual and generate good cash flow into it. So these are the common item that you sell in your business or the service that you provide in your business that generate the business as you should be. And of course on top of this item, you will definitely have certain product or services, which is the best seller, which is the item that is moving really fast and also generate good cash flow to you. So list out these two differences because the basic item is the is the core product that usually help your visa.

But the best seller usually is the item that you want to identify and highlight, particularly when we move to the topic of when we're going to do marketing. And these are the bestseller items that we're going to highlight our customer to attract more people to come in. Next, we're going to look into the value added product. This is what we call the easy to upsell or easy to cross sell products. And this value added product is to help build Generate addition profits. So you don't necessarily need to create something new it can be just as simple as you're going to sell this product in the bigger size.

As I'm buy your sell your coffee on the bigger says, you're going to show your shampoo in the bigger size because because volume type of format, you can also bundle your product like three in one. So I can take three of my product bundle them together, then they become a value add product. You can also work on your product packaging. Now to package your product all together as a bundle together. For example, you can also add cream on your coffee for example, if you go to Starbucks, if you just add $1 just to add cream to your coffee. You can also add $1 to get a dessert or get a larger size of item.

So look into the item that you can really, really value add on. And don't ask don't underestimate this value add because this is where you're going to help you generate more transaction and more average spending per transaction. So this is really important. Next a really low into a seasonal product. So any product that you occurring selling is only happened or you only sell or that you only provide based on season. So you don't have these all year along but come to Southern holiday season or southern special season like your anniversary that is a Christmas program or whatever thing that the only happened based on season and this will is will help you to create additional demand from the customer and also generate additional profits.

And we also want to look into based on the above all the above product that you are currently offering how many of these products eventually help you to generate a recurring revenue it's really important that you do have a recurring revenue generated from the product and services that you are providing. So look into And make a remark on those products who are currently helping you to generate more recurring revenues. And lastly, this is where you want to come out new ideas or new product that you can do what are the what are the upcoming new item that you can add towards your current product existing layout or and what are the products that you like to remove from your existing list because the for those they will be some unpopular product that you just want to remove from your shell and make space for a make space and also resources for other for other product to go on shelf.

Alright, so this is the product segmentation framework. So do spend some time on it and Lisa or your product and fill in the blank and you will have a better and clarify picture on how can you design your product better