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How To Introduce Your Product In The Market 9 replies,18023 views

#1
Taking your product to market can be costly. One way to do it by engaging the services of a consultant, but you'd have to pay the consultant too. Here's a free advise for everyone.

I'd like to share this free article by Fran Briggs on:

FIVE STEPS FOR TAKING YOUR PRODUCT TO MARKET

Getting your product on the market requires exceptional product knowledge, creativity, imagination, persistence and energy. Here are five steps that can be implemented with low, or no cost. Now, in some cases, your "product" may be you! Are you a professional speaker? Success coach? Entertainer? ... Take these steps and get your product on the market in record time.

1. Create a Marketing Plan
An excellent marketing plan is essential and serves as the blueprint for your business success. Begin by confirming that there is in fact ... a market for your product. Many overlook this and end up making one of the most expensive mistakes of their lives. If there is a market for your product, get the most recent market synopsis for your business. Do your research online and at your local library or bookstore. There is a plethora of information and literature available to help you succeed. Speak to individuals who operate businesses like yours.

Next, do your homework. Write down your specific goals, objectives, and desired outcome for your business. After you've done this, you're ready to create your marketing plan. Be sure to include your:

- Product description
- Target market
- Customer demographics
- Price
- Competition
- Promotion
- Advertising
- Profit percentage
- Product Guarantee
- Product/liability Insurance
- Budget

2. Set a Launch Date
What is the exact date your product goes on a shelf, in a rack, in front of an audience, or online? Write it down. Your launch date not only gives you something to aim at, it helps keep you accountable. Your Launch Date is considered your debut, or grand opening. It is the day your customers line up throughout cyberspace -- or around the block -- to be the first in line to buy your product.

The launch date is typically set far enough ahead for a full-steam ahead marketing effort. Setting a launch date six months in advance is the minimum I would suggest for a strong marketing campaign. Anything less would compromise your efforts and results. Six or more months out increases the likelihood for great previews, reviews, blurbs and other publicity mediums. And be sure to arrange radio phone interviews and personal appearances with radio and television stations.

3. Work With a Business Coach or Small Group
Everyone can benefit from the guidance and support while putting their product on market. A business coach or a business support group can help you reach your destination. You can't help but benefit from the shared experience and knowledge of others. These resources can also help you hold yourself accountable for reaching your daily goals and objectives. The primary goals include helping you grow -- and stay -- in business. You can meet once a week, once a month, or even once a quarter. It's up to you.

4. Take Action Every Day
This tactic requires discipline and is one you cannot afford to overlook. You must do something everyday which moves you closer to putting your product on the market. Be sure you are advertising and utilizing both online and offline resources to do so. Go out and network and establish business relationships in your community. Join your chamber of commerce. Approach your niche market everyday with the intent to advance. Be creative, daring and tenacious. Pick up the phone and tell the people about you and how your product can change their lives for the better.

5. Sell, Sell, Sell!
Sell, sell, sell. But not without a specific strategy. Depending on your product and respective marketing plan, you may want to focus selling to individuals first, then small businesses. As you reach your goals, you are more than likely to open up to retail or wholesale. Business-to-business selling is fundamental in the success of many products. Todd Mogren, a successful Internet Marketer says, "We began selling to individuals. Lots of our growth today is coming from businesses, including IBM, UCLA and Ford."

Illustrate the low cost and benefits of your product. Break down the price to its smallest increment and make the benefit clear. For example,

"Enjoy delicious, high quality, coffee delivered to your home for less than 80 cents a day."

Get the picture?

If your product is a mail order item, factor in the appropriate expenses so when you package and ship it, you're not taking away from your profit. Your local post office can recommend the best mailing options. Visit usps website. They have excellent packaging tips. To your success! Article complements of, and as originally published in, Shamiracles Marketplace. Author: Fran Briggs.

Hope this article is of use to members. [em18]
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#2
Re: How To Introduce Your Product In The Market
Replying to [smarco]:

Several points needed to presented:

1. Your company's history.
2. Your company's ability & capacity.
3. Your company's products' advantages.

The 3rd one is the most important in my view.


Hyk

[em1]
#3
Re: Re: How To Introduce Your Product In The Market
Replying to [everconn]:

I agree that's a good observation Hyk. Product features and advantages should be highlighted, as suggested under item 1 in preparing "marketing plan". Nothing is more important than ensuring that there are in fact a demand for the product before it's even introduced in the market.[em19]
#4
Re: Re: Re: How To Introduce Your Product In The Market
Replying to [smarco]:

I like & agree with your these words " Nothing is more important than ensuring that there are in fact a demand for the product before it's even introduced in the market. " So it also related to the topic of MARKETING PLAN.


Hyk

[em1]
#5
Re: How To Introduce Your Product In The Market
Replying to [smarco]:

sell sell sell !

Haha

Insteresting !
#6
Re: How To Introduce Your Product In The Market
Replying to [smarco]:

4. Take Action Every Day
This tactic requires discipline and is one you cannot afford to overlook. You must do something everyday which moves you closer to putting your product on the market. Be sure you are advertising and utilizing both online and offline resources to do so. Go out and network and establish business relationships in your community. Join your chamber of commerce. Approach your niche market everyday with the intent to advance. Be creative, daring and tenacious. Pick up the phone and tell the people about you and how your product can change their lives for the better.[em7]
#7
Re: How To Introduce Your Product In The Market
Replying to [smarco]:

Emm , the 3rd time reading your post.

I agree and likes these words too:

Take Action Every Day
This tactic requires discipline and is one you cannot afford to overlook. You must do something everyday which moves you closer to putting your product on the market. Be sure you are advertising and utilizing both online and offline resources to do so. Go out and network and establish business relationships in your community. Join your chamber of commerce. Approach your niche market everyday with the intent to advance. Be creative, daring and tenacious. Pick up the phone and tell the people about you and how your product can change their lives for the better.


Hyk

[em1]
#8
Re: How To Introduce Your Product In The Market
Replying to [smarco]: It is revelatory,thanks so much!
#9
Re: Re: How To Introduce Your Product In The Market
Replying to [King of solar water heaters]:

You sell sell sell

Me, no buy, no buy, no buy[em2][em2]
#10
Re: Re: How To Introduce Your Product In The Market
Replying to [everconn]:
Agree with you to take daily action.

Even so, more has to be done, such as to set daily goals, weekly and monthly. Draft a year time table, if not quarterly. The daily action is the result of the micro planners, where the macro planner say for example, a promotion drive for a particular product to a target audience and the quota for the period.

The book "One Minute Sales Manager" centres mainly on the one minute setting of goals, evaluating the results and do some fine tuning and then take action. The difference between wannabes and achievers is the ACTION. The passive people dream, and aspire, to some greater extent, they even devise plans and draw comprehensive conclusions on strategies from their market surveys. However, they come short of taking their plans to action, and they never take off, remain as the passive dreamers. But on the other hand, there are those who are on the other extreme end, they take action without plans, and made costly mistakes. So this has to be balanced and controlled with feedback.

In the field of Control Engineering, there are three components to the control loop: Measure, Set and deviation then Output to drive some action and Feedback. To marketing, measurement is to size up the market, the demands and needs through a survey, which can be in statistics or informally a figure to work on. Setting your target to gain a position in the market with your product / service and output the action to drive the measured value towards your set point, simultaneously getting the feedback back to the measure value and compare with the set value for a deviation. If the feedback is positive, then the set value has to be adjusted, but if it is negative, then the controller has to make more output to bring it to null point. In the controller, there are three modes, the proactive, the reset and integral control. Proactive, like a predictive setting, is based on information gather through market intelligence, the expected results. The reset mode is somewhat to correct the deviation over a period of time, by increasing output or reducing set point, and the amount of output is determined by the Proportional band mode, which is not time driven, but by amplitude. This is called P.I.D. or Proportional, Integral and Derivative modes.

Sorry to be full of jargon, I hope to be more illustrative in the explanation.

Joy



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