Tag Archives: Marketing Strategy

Marketing Strategies for New Products

Market new products is not easy, especially if the product is not yet known to the public. It takes capital or substantial marketing costs, as well as the struggles and specific marketing strategies for these products hit the hearts of consumers.

In addition to how to attract customers, the novice must also face competition from other entrepreneurs that business has a product to market first.

This becomes quite a challenge, for business people. Because to successfully enter a market, they must have a strategy to attract consumers. We recommend that you create a product that has its own advantages compared to other products. So that consumers can be attracted and identify new products that you offer.

In addition to creating products that are superior, there are still some things to consider to introduce consumers to new products, among others, as follows:

* Perform market research, to find out how big the market potential of a product. If the research results show some positive results, then you should not hesitate anymore to market the new product. However, when research shows a lack of interest of the consumer, should do the evaluation and give more value to your product. So that the product is readily accepted by the market.

* Gels to customer needs. Trying a new market by offering products consumers need, is one of a very powerful marketing strategy to attract consumers. Due to the existence of such needs, consumer purchasing power will increase. Including the purchasing power of the new products that provide solutions to their problems.

* Create an effective promotional activities. Promotional activities to be very important to introduce new products, at least consider supporting factors STP (segmentation, targeting, positioning) and the marketing mix (product, price, place and promotion). This is so that promotional activities are carried out in accordance with a predetermined target market. Promotion strategies that can be done, among others, to maintain quality of products, offering competitive prices, choosing a strategic business location, giving a bonus or rebate at the time of launching the product.

* Then give the best service for consumers. Because of good service, becoming one of the supporting factors for creating a quality product. The better the service you provide, the more extensive your market anyway. Vice versa if you give bad service, consumers would be so quick to leave your product.

Marketing strategies for new products, also a major effect on product sales. Because the first impression that the consumer obtained from a new product, will determine its assessment of the product image.

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Determining the Market Strategy

After we did a SWOT analysis to determine the ability and establish a market where we are headed, then the next we need to develop marketing strategies.

Marketing strategies (marketing strategy) is a means used to help us make and sell goods and services in accordance with market conditions and the target company or the intended consumer tastes. Lots of strategies introduced in the theories of marketing, but in general the usual marketing strategies and can be selected are:

1. Penetrate the market
Strategies to reach target market through buyers who have not achieved
Practical efforts that can be done include:

a. Increase unit sales by lowering prices, making the goods or services that are more numerous, and others.
b. Adding the location or the sales staff in order to reach more number of buyers.
c. Increase advertising to be more well known.
d. Adding goods and services by conducting clearance programs for goods almost out of date.
e. Sales promotion. as giving gifts, discounts, vouchers, and so on.
f. Enhance brand recognition by doing publicity, research and the like.
g. Improve promotion and advertising through the media and in a manner consistent with the target buyer.
h. Lowering the price by giving special offers or discounts based on the number of products purchased

2. Developing Markets
Strategy is done if the target buyer of the old already saturated or has run out so that new buyers need to find the target with a fixed offer goods or services that are old.

3. Developing Products
This strategy includes changes in goods and services that keep using the same mode of production by means of production. ii strategy is generally done to extend the shelf-life or life cycle, where if we know that the target buyers getting bored and we must change the goods and services offered.

4. Conduct Diversification
This strategy is the development of new products are still in touch with old products to be offered to new markets as well.

5. Applying Low Cost
This strategy is based on low input costs so as to produce goods or services are cheap too, but that does not offer low quality.

6. Focusing on the Market
This strategy is done by providing services to buyers, especially with limited service of, and buyers can be determined clearly, more effectively and efficiently than competitors.

7. Doing Differentiation
This strategy concentrates on the creation of new goods and services are seen as very different from the others.

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