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Tuesday, 10 June 2014

Introducing New Products

Any Entrepreneur or a company would begin giving solutions to existing products. Once the company has made its stand in the market, they slowly begin making advances and bring out innovative products of their own.Several companies fail when they try to introduce new products into the market. There are several reasons for this. Companies are often enamored of their new product ideas that they fail to do their research, or they ignore what the research tells them. Sometimes the pricing or the distribution channels are wrong. Sometimes the advertising doesn't communicate. Some do not understand the need and the market or their competitors.

If a product launch has to be successful then one has to have a constructive research in place. The research must be integrated and well researched so that one can solve front end issues.
Here are methods which our marketing and sales team follow before We launch a new product.


Market research:

We would not want to fly in a storm and crash land with our new products.Our Marketing ans sales team first analysis the product, run a Market research which does more than just confirm their gut feelings, it provides us with information and gives us a good direction. It identifies market needs and wants, product features, pricing, decision makers, distribution channels, motivation to buy. They're all critical to the decision process.

Timing:

All elements of the process are coordinated. The production to the product is marked to the scheduled of the product launch or demo date. A set time frame for the roll out is planned. Many products need to be timed to critical points in the business cycle. Miss it, and invite failure.There are marketing tales galore about companies making new product announcements and then having to reannounce when the product lags behind in manufacturing. The result is loss of credibility, loss of sales, and another failure.

Testing:

We have an advanced QA and testing team who test the product before we launch it. Test-Market the product making sure that it has all the features the customer wants. We also make sure that the product demo is running smoothly. 


Distribution:

Who sells the product? Our independent sales representatives have sufficient sales potential in the new product to convince a distributor, retailer, or agent to take on the new line. They will give you an assurance for the investment of your time and money.


Promotion:

Finally our promotional team joins in. They will support the product by supporting, introducing, advertising, Web site, seminars, public relations. 
Arowana has its expertise in various industries. It has a variety of Products and Solutions which may cater to your needs . take a look at products of Arowana.




Reference: http://www.inc.com/articles/1999/03/17958.html