Adding a new color to our line
Recently we were deciding whether or not to add a new perfect touch solid color that matches Arauco to our line. A team mate asked "Well why don't we add 3 colors instead of just one to enhance our chances". Below was my response.
There are 5 criteria I'd add to deciding on a new color.
1. Board matching. When we match boards it is tapping into an existing market created by having the edgebanding, board and thermofoil all in coordination. We look at the distribution strength of that board company as well as the quality of the match.
2. Cross pollination. For a solid color there may be already matches in the market , however, if there are other matches it won't necessarily hurt our sales. In reality the more people out pushing a color the more likely demand for that color will rise. In addition, some door makers may prefer to deal with Dackor and some may prefer to deal with a competitor.
3. Cash flow. If we invested into 3 colors it may be better to do one right. The reason is that we can fully commit to that color and unlike many competitors, we are less likely to discontinue an item. In addition we are not spreading out the investment across more colors to see what sticks but instead on good matches when we can that are in demand, especially for board matching stock colors.
4. Operations. When we add a new color it involves warehouse management, samples, marketing , sales management and other operational people. Lots of people get tapped whenever we add a new color .
5. Sales. The more colors we have the more our efforts are spread over those items so it can become a distraction to push an item that does not have the overall marketing legs.
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