Challenges of Selling Watches

Describe Your Product or Service Here
Author’s Name:
Institution of Affiliation:
Course Name:
Instructor’s Name:
Date:
Describe Your Product or Service Here
I am currently looking forward to starting the business of selling watches. Even though most people can opt to sell all types of watches, I am looking forward to only selling luxury watches since I am targeting the high-class market. Our company will offer different types of watches, from analog to digital, casual, and dress (Belin, 2021). Customers could wear it for fashion or as a practical device such as a smartwatch.
Even though selling watches is one of the most profitable businesses, it has some sales challenges. One of the problems that face I will face is the problem of determining the price (Gomelsky, 2022). After creating the watch and before releasing it, it will be critical to determine the price that it will be selling at. The main reason is that if the selling price is too high, it will scare away customers making the business. On the other hand, if the price is too low, it will attract clients, but the profit earned p...