How Do You Bring A New Product To The Market?
Bringing a new product to market requires a strong vision and an experienced marketing and advertising team behind it. It can take months or even years before a product can enter, let alone, break or saturate the market. Deals must be made and negotiations must be had, but a new product can be brought to market by following these basic guidelines. Research competitive brands and products. Determine the level of market share for each and create a summary of signature lines or services that have achieved a recognizable consumer base. Develop a product and marketing strategy. To bring a cosmetic product to the retail level, for example, negotiate with large retail chains like Walgreens or CVS for visible end-cap displays, a specified number of in-store promotional messages and coupons, and free-standing inserts for shoppers. Plan how you will anticipate and deal with consumer switching patterns, so the brand launch is successful enough to stimulate a trading up affect for the new brand or
