How to Promote a New Product
Companies are coming up with new product ideas all the time. They work hard to understand what the buyers want and constantly improve what they have on offer. It is a time taking procedure that must be done properly to ensure that the end result is successful.
Much depends on how well the product has been promoted. A great product may not do well or have issues with sales in the start if it is not promoted well. Similarly, a product which is not all that great may end up being a hot one initially due to great promotion.
Products need to be promoted and promoted in the right way. It is not rocket science and can easily be done with a well laid out plan and good execution.
Instructions
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1
Define Market Segment
Every product has an intended market for which it is developed. Just like it happens at the product evolving stage, there is a market segment that needs to be identified for sales promotion as well. This guides the advertisers in understanding who to target more specifically, in order to achieve a greater outreach and more sales as a result. -
2
Plan a Sales Promotion Roadmap
Once the segment is defined, a road map for the sales promotion needs to be chalked out. It will certainly depend on the market niche or niches that are being targeted. It will also depend on how much money the organisation is willing to spend on the efforts to promote the given product. Generally a significant amount is kept for the promotion purposes at the time of the launch of a product, in order to maximise its potential of success. -
3
Promotion through Traditional Channels
Most of the sales promotion will certainly be done through traditional channels. Generally the protocol that is followed is that a formal launching ceremony is held with big shots invited along with the media. Special offers are given in order to lure buyers for a limited time period.
Commercials are made for television and print media and sometimes for the cinema as well, where they roll during the interval. Campaigns in the print media are also provided in order to further enhance the outreach of the effort. Bill boards too are important to keep the product in the public eye. -
4
Promotion through Non-traditional Channels
Recent scientific advancements have added to the options that the advertisers have. The internet is a big tool for this purpose where the products can be promoted in a targeted manner on search engines, pertinent websites and social media. It can have as equal an impact as the traditional mass scale advertisements.
