Effective Marketing; How to Market a New Product
A business is not existing if there is not market for such business be it goods market or service market. I was talking to a young boy some time back and he said he wanted to start selling Soda and can drinks. While we were discussing, I asked how he was going to conquer the market and he sounded really confused. He thought his market was the place where the buying and selling occurred, he was talking about having a large space in a random sales place/ market place which made me understood that he was really confused and needed a lot of understanding about business and marketing.
What is a Market?
Unlike what the person you read above said, a business market is a group of potential buyers who have needs and wants and possess the purchasing power to satisfy them is known as a business market. The people who consume goods, services, ideas, and thoughts are the market of a business enterprise.
Do not get this wrong, because you have a million people in a community do not mean a million person are your market, your market is the number of people who need what you are about to sell, are willing to buy and have the purchasing power. If you have a hundred thousand people falling under this category then that is your market.
Keynote
Your market are group of people who;
Need and/or want your products and/or services
Must have the ability to pay for the products and/or services
Are willing to buy the product/services
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Marketing a New Product
Having a good Idea for a product is actually the skeleton for a success in sales, because an idea is good does not mean it will be acceptable. First, developing a new product is very risky as you cannot be sure it will be accepted by the general public.
A new product in most cases have no competitor which you might think is an advantage but in reality, it isn’t because it is relatively new and the public doesn’t believe in it. So you have to solve this problem and get your product into the hands of your consumers. Let me share with you how to get this done.
Keynote
A new innovative product has no competition
Customers do not believe in new products since they haven’t given it a trial
Creating an Attractive Character
The first step to get a new product to the public is creating a mass movement in form of an awareness making the public understand the leading role and influence the product will be having when it quenches their needs. The product must be portrayed future base, with the ability to solve a problem.
Going to the market with a product that consumers do not understand or have prior information about will be creating a failed product from the start. Paint a product that has a solution, no consumer cares about a product, they care about a solution. When your product stops solving their problems, needs and wants, they go for the next.
Create A Product Story to advertise
You might not notice but most selling product do adverts with product story. Talk about the product, talk about how you produce it making it look special. If you are to market a beer, tell your consumers in an advert how you get it done. Tell them about how clean the production water is, the fresh barley and the pasteurized sealed bottle to prevent germs. Tell them about how safe the product is coupled with the importance of the product to solve problems.
Source
Make Your Product the Customer’s Product
Making your product special to your customer beyond its importance is a way to sell your product. Make your product something customers really want because it is special to them. A very good example of this creating a product that is cased with its consumer’s generic name or actual name. If the products are for children, include the word child/children in the package so the targeted consumers know it is for them. If you are producing a Beer or Soda, you can use generic/personal names to attract your consumers for example, the Coca-Cola custom bottle.
Marketing is a very difficult task especially when it has to do with new products. Share with me your experience on a new product you ever marketed and the methods you used.
I will appreciate if you share your views in the comment. Thanks for taking time to read my blog
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I have learned this was the way: ;)
https://en.wikipedia.org/wiki/How_to_Win_Friends_and_Influence_People
How to Win Friends and Influence People
How to Win Friends and Influence People is a self-help book written by Dale Carnegie, published in 1936. Over 15 million copies have been sold worldwide, making it one of the best-selling books of all time. In 2011, it was number 19 on Time Magazine's list of the 100 most influential books.Carnegie had been conducting business education courses in New York since 1912. In 1934, Leon Shimkin of the publishing firm Simon & Schuster took one of Carnegie's 14-week courses on human relations and public speaking; afterward, Shimkin persuaded Carnegie to let a stenographer take notes from the course to be revised for publication.
This is a very fantastic book. I read this book a lot of times and i applaud Dale Carnegie.
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It can be very difficult to bring a product to the market. I have seen a lot of new products and innovations go down the drain, because people did not accept what they were bringing to table.
A proper understanding of how to bring a product to market will reduce this problem drastically.
Marketing is the key to a high sale of product. Thanks a lot for reading my post
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This is indispensable as it is. Having this clear allows you to project yourself, to establish the most adequate strategies and to reach that specific number of people.
It is here where the creative becomes present, we must unite not only what I want to express but use the codes of the target population... You have to make a literal study of sociology, social psychology, trends... That's why big companies have a whole team behind this.
This would then imply thinking of a product that offers a solution to something that will be a permanent problem, I assume. And it's a thinking thing, and a lot of it. Because each population, as well as having its own particularities, has its own problems to solve. And even the problems vary depending on the weather, season, among other things.
Really, I don't have much knowledge of marketing, no more than what I've been able to read in a particular way, and besides, it's not my area of training, but, I'm very clear that it's something of vital importance in any business, and even, oneself, regardless of the academic training, must learn to sell... I'm very clear about it @ajewa
Thank you for this information.
Marketing is an important tool for any aspect of life, employment, relationships, etc. Very interesting publication, I must add that a good marketing creates a positive memory of the brand and is usually associated with a pet that is the image of it.
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Dear @ajewa
I finally managed to find some time to read your publication. Sorry for such a late comment (quite busy few days).
Your friend has a really long way to go if he doesn't understand those basics. Perhaps he will do well enough - simply because he may have very little financial needs and selling soda and other can drinks can bring enough revenue, even without understanding the market.
You nailed it!
Selling story surely does do the trick. However it's important to realize that building emotional connection with our partners/clients is even more important. Difficult to achieve, but results are always worth trying.
Solid read, Upvoted already,
Yours, Piotr