One of the fun things about being a marketing consultant is helping companies come up with new products. Today most call this practice innovation. I have a new R&D idea for Sherwin-Williams or really any paint manufacturer. Design a clear coat finish for external house paint that when spayed on in a light mist will add years to the life of the product, improve color retention and prevent mold. I’m no scientist, but one would think a breathable (or not) resin applied over a new coat of paint that helped extend the life of the finish would be something most home owners would invest in. Especially if priced correctly.
The product would add to the total ticket price of the average house paint sale. Sherwin-Williams could even sell or rent the spray machine for an added revenue opportunity. And as a new product category, this sealer/finisher would grow the total market. “Add 5 years to the life of your paint job for only $99.”
I love growing markets and categories. Now, if I could only just get a hair color company to make it cool for men to color their hair…
Are there ways to repackage and add to your product offering? Give it some thought. Peace.