Product strategy: Factors that influence product strategy decisions of SMEs in South Africa

Abstract

Deciding on the right products to offer to the market is a demanding and crucial task that requires understanding and insight into the customer’s needs and wants. This task is even more important and crucial for SME’s who in many instances have to rely on the knowledge and feeling of the owner/manager only to make these decisions. It is therefore important for SME’s to have a well thought out strategy when deciding on what products to sell. This study aimed to identify factors related to products that SMEs consider when selecting products to sell. Surveys were sent out to SME’s around South Africa. The results indicated that SME’s selected products based on the quality of the product and customer demand.