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Product Launching Strategies to improve business

BY: David Prakash Kumar | Category: Business and Finance | Post Date: 2010-01-27
 



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   David Prakash Kumar
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After the creation and development of a particular product, the product launching process is the most important step towards public acknowledgement and marketing success. In order to improve the profits and business rank, there are several secrets and market strategies that can ensure a successful product launch:

1. Product - the object of the launching strategy

The new product should make a crucial difference for the consumers. Nowadays, some parts of the market grow by leaps and bounds and some others have very few brands. The various products can be successfully introduced if a product is unique and is very useful to the consumer. The category of so-called "me too products" are useful to an extent. The risks that are related to this fact are quite high.

If you do not want to invest an outrageous budget in advertising, it is better to wait until you have a product that makes a real difference.

2. Packaging

Packaging should help to position the product to express their personality and also contain a promise.

1. It must support the personality of the product and not its opposite, which means that it must be seamlessly, integrated into the communication and advertising campaign that will support the product

2. Packaging should reflect the ‘taste' prospects.

3. One other benefit of good packaging is that it is better to sell the product with the same words that were used in advertisements.

4. The product should be good to see in the package.

5. Design, graphics and quality in the packaging is essential to increase the sales from the minute the product is launched.

3. Name

The name should help in positioning the product and highlight the benefits. A good name for the product can give a sense of satisfaction to the customer on purchasing the product and it should also make a mark there on the shelf. The product will be less likely to have problems if one takes into account the following considerations:

1. Choose a name that will help brand positioning.

2. Finding a memorable name that is not interpretable in a bad way.

3. You should choose a name so common that it can describe almost anything.

4. An easy to pronounce name will always be an asset, especially if it is a product that customers need to keep talking about.

4. Price

1. The price of a new product must be in accordance with its image. An elegant perfume should be almost always expensive. Similarly, the cost also plays a role in the sales. There are some products launched for high-end customers and others that are launched for the ‘everyday man'!

2. If it falls within the category of products "me too" without a specific major difference, the price must not be larger than the competition. Only if the new brand makes a real difference, will people be willing to pay more.

These are some of the most important strategies that can be used successfully in the launch of a new product. These strategies will also help to increase the sales of the product right from the time the product is launched.

Article Source: http://www.saching.com



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