how to launch a product
TRANSCRIPT
N a u m a n V i c t o r
Roll No :3 6
HOW TO LAUNCH A PRODUCT.
There are three phases of launching a product:-
1.Market Research
2.Prelaunch
3.Launch
1. Market Research
It is always better to make a research on what is a customer’s choice and what is the type of product that will satisfy a customers needs.
• Market needs
• Position
In the market research, position plays a very important role. There is a competition between your product and other’s product. Only best product makes it to the first position.
• Price and Quality
A customer decides purchasing after observing price and quality of product. The research should be made very smartly before setting price.
• Know strong points of competition
Every business has competitors. Understanding the strengths and weaknesses of your competitors will help in success and survival of product.
2.Pre Launch
•Creating coming soon advertisement
Let customers know what is coming soon by news papers, public service announcements, internet advertisements , radio advertising; etc
•Online marketing
Making a business website can help in attracting so many customers . This will also help in advertising internationally.
•Choosing the right time
Starting too late, and your product will flop. Starting too early will also make your product to fail in attracting customers. For best results, launch your product at peak of demand.
• Selecting a suitable name
Make no mistakes while selecting the name of your product. Suitable name will give a good impression on public. Easy name is easy to remember.
Launch
•Contact your distributers
Give your distributers plenty of forward notice of your new product. More distributers means more sale.
• Level of risk
Risk involves in every type of business. There is always a chance of getting your product flop. Be careful about the disadvantages of your product.
• Feedback
Social websites is the most helpful way of getting feedback on your product. On social websites, it is easy to calculate the ranking and value of your product.