How to market a new product
Video: The Best Marketing Strategy For A New Business Or Product in 2021 2024, July
The competent introduction of a new product to the market is one of the key aspects of marketing. A successful launch of the new product is able to provide the product with high profitability and a strong position. Preparation for this stage is no less important than direct work on the sale of goods.
You will need
- - marketing research;
- - designer services;
- - promotional materials;
- - money;
- - staff.
Instruction manual
1
Do market research. Your goal is to determine the competitive environment, positioning of your own product, features of demand and the existing price situation. The results of the analysis will become for you one of the key factors in bringing a product to market.
2
Highlight one or more USPs (a unique selling proposition) that accompany your product. These may be unusual properties, lower price, after-sales service, higher quality, free delivery and service. In this case, your potential consumer should understand why he needs to buy your product, and not similar.
3
Based on the finished USP, create a promotion strategy. Choose a slogan, features of an advertising campaign, the most effective media and promotion methods. Make a marketing plan that will help you rationally distribute the budget for bringing the product to the market. If the competitive environment is strong enough, and there are a lot of similar products, choose more aggressive methods of promotion. Provocative phrases, price dumping, high-profile sales promotion campaigns: at the start, any methods that do not contradict legislation and ethics can be used.
4
Design a catchy logo for your product. Based on it, create a full-fledged corporate identity that will make the product recognizable and help the consumer easily distinguish it from analogues. Issue souvenirs with a logo, as well as POS materials for placement at points of sale.
5
Create a “deferred” demand for your product, fake artificial excitement about the launch long before the start. For example, when introducing an electronic novelty to the market, it is advisable to provoke discussion of this topic on Internet forums, post informational articles in the press, and hire agents who will inquire about the novelty in stores. So you can achieve a situation where they will already know about your product before it appears on the market.
