How To Introduce Your Product In The Market
Taking your product to market can be costly. One way to do it by engaging the
services of a consultant, but you'd have to pay the consultant too. Here's a free advise for everyone.
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FIVE STEPS FOR TAKING YOUR PRODUCT TO MARKET
Getting your product on the market requires exceptional product knowledge, creativity, imagination, persistence and energy. Here are five steps that can be implemented with low, or no cost. Now, in some cases, your "product" may be you! Are you a professional speaker? Success coach? Entertainer? ... Take these steps and get your product on the market in record time.
1. Create a Marketing Plan
An excellent marketing plan is essential and serves as the blueprint for your business success. Begin by confirming that there is in fact ... a market for your product. Many overlook this and end up making one of the most expensive mistakes of their lives. If there is a market for your product, get the most recent market synopsis for your business. Do your research online and at your local library or bookstore. There is a plethora of information and literature available to help you succeed. Speak to individuals who operate businesses like yours.
Next, do your homework. Write down your specific goals, objectives, and desired outcome for your business. After you've done this, you're ready to create your marketing plan. Be sure to include your:
- Product de******ion
- Target market
- Customer demographics
- Price
- Competition
- Promotion
- Advertising
- Profit percentage
- Product Guarantee
- Product/liability Insurance
- Budget
2. Set a Launch Date
What is the exact date your product goes on a ****f, in a rack, in front of an audience, or online? Write it down. Your launch date not only gives you something to aim at, it helps keep you accountable. Your Launch Date is considered your debut, or grand opening. It is the day your customers line up throughout cyberspace -- or around the block -- to be the first in line to buy your product.
The launch date is typically set far enough ahead for a full-steam ahead marketing effort. Setting a launch date six months in advance is the minimum I would suggest for a strong marketing campaign. Anything less would compromise your efforts and results. Six or more months out increases the likelihood for great previews, reviews, blurbs and other publicity mediums. And be sure to arrange radio phone interviews and personal appearances with radio and television stations.
3. Work With a Business Coach or Small Group
Everyone can benefit from the guidance and support while putting their product on market. A business coach or a business support group can help you reach your destination. You can't help but benefit from the shared experience and knowledge of others. These resources can also help you hold yourself accountable for reaching your daily goals and objectives. The primary goals include helping you grow -- and stay -- in business. You can meet once a week, once a month, or even once a quarter. It's up to you.
4. Take Action Every Day
This tactic requires discipline and is one you cannot afford to overlook. You must do something everyday which moves you closer to putting your product on the market. Be sure you are advertising and utilizing both online and offline resources to do so. Go out and network and establish business relationships in your community. Join your chamber of commerce. Approach your niche market everyday with the intent to advance. Be creative, daring and tenacious. Pick up the phone and tell the people about you and how your product can change their lives for the better.
5. Sell, Sell, Sell!
Sell, sell, sell. But not without a specific strategy. Depending on your product and respective marketing plan, you may want to focus selling to individuals first, then small businesses. As you reach your goals, you are more than likely to open up to retail or wholesale. Business-to-business selling is fundamental in the success of many products. Todd Mogren, a successful Internet Marketer says, "We began selling to individuals. Lots of our growth today is coming from businesses, including IBM, UCLA and Ford."
Illustrate the low cost and benefits of your product. Break down the price to its smallest increment and make the benefit clear. For example,
"Enjoy delicious, high quality, coffee delivered to your home for less than 80 cents a day."
Get the picture?
If your product is a mail order item, factor in the appropriate expenses so when you package and ship it, you're not taking away from your profit. Your local post office can recommend the best mailing options. Visit usps website. They have excellent packaging tips. To your success! Article complements of, and as originally published in, Shamiracles Marketplace. Author: Fran Briggs