Business Culture

How to Introduce a New Product

If you have a great product in your hands to sell and you are wondering how to introduce it, here are some steps to get you to the profit line:

1. Prepare for war

If you fail to prepare, you are preparing to fail. So prepare! Just like how a soldier prepares before going to battle! Because this is where consumers either shoot you down or allow you to get their attention and their money. Think about the following questions thoroughly:

• Who are your target customers?
• Where will you engage the customers?
• When will you engage the customers?
• What tools of marketing are you going to use?

2. Select the marketing tools

Since you must know a lot about competitive products such as their attributes, price points and the methods used to promote them, you will need to invest in discovering your own ways to introduce your products. For instance, will most of your budget be spent on point-of-purchase advertising to support the retailer's efforts, or will you engage in a robust general advertising program?

3. Use effective words

What you say may make or break your great product. You should explicitly say that what you are offering is NEW and GOOD. You should convey that you are quite EXCITED about your product. Otherwise the customers may not know. Here are more words you can choose to use: original, latest, hottest, first of its kind, fastest, advanced, etc.

4. Patience, patience, patience

According to a study, it takes around 9 promotion encounters before your target customer considers to buy your product or avail of your service on the condition that your product is of good quality and you make introduction at the right time and right place. So keep trying and be patient to wait for your success. The day when you decide to give up might be just the time your customers almost go to the cash register. This is the most pathetic thing for a salesperson.