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Several years ago I met Davis, an executive in Ohio, who segmented his product lines into “Bought, not Sold” and “Sold, not Bought.”
“Bought” products, he said, were familiar to the buyers. They had self-diagnosed what they needed and self-prescribed a product solution for that need. Often, they’d previously purchased a product in the category. If you’ve just brought home a new puppy, you are likely very excited, but also have a number of questions. How do I care for my pup? How much work will it be to train and housebreak him? you can click here to get more info.
By contrast, a “Sold” product presented an unfamiliar solution—so the prospect couldn’t self-prescribe, and may not have self-diagnosed. In fact, their needs might be latent and wouldn’t be recognized without prompting.
The implicit questions to be answered for prospective buyers are the biggest difference between the two situations.
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