When a Product Doesn't Sell
What happens when you produce a product that, as much as you loved it and believed in it, turns out to be a dog? You may betempted to let the product sit, hoping it eventually will sell. But don't procrastinate. Try everything in your power to get theproduct off the shelves as quickly as possible.
When any of its 250 products are waning, $62 million Pentech International, a maker of pens and markers, in Edison, N.J.,gives retailers a choice: it asks them to either accept money that can be used to advertise the product or send theproduct back at Pentech's expense. "If a product isn't selling, I want it out of there because it's taking up space that can bedevoted to another part of my line that moves," says Pentech CEO Norman Melnick. "Besides, having a product languish on theshelves doesn't do much for our image."