The idea of creating a new products can be present at any time. However, to start releasing your product, you shouldn’t be in a hurry. You must have careful planning before starting to offer the product you already have. After having a plan, you need to start thinking about how the product will be well received in the market. This may sound simple, but without a good strategy, your marketing may not do well.
The following is a product launch strategy that determines the high and low level of each variable in marketing, product quality, price, promotion, and product distribution that you need to do !
1. Strategic rapid skimming (rapid launch)
The rapid skimming strategy is a new product launch strategy that begins with high prices and promotions. Rapid skimming can be used to accelerate the rate of products entering the market. This strategy can run smoothly and successfully if most of the market is not aware of the product.
2. Slow skimming (slow launch) as a strategy
With this strategy, you can get a large amount of gross profit per product with low promotions so that the marketing costs are not so high. This strategy can work if the market is limited, some consumers already know the product, consumers want to buy it at a high price, and there are no competitors for your product.
3. Rapid strategic penetration
This strategy is usually carried out by setting low prices and conducting intensive promotions. The goal is to gain faster market acceptance and a wider market share. The success of this strategy can be influenced by consumers who do not know the existence of the product, a broad market, consumer sensitivity to prices, and indications of very intense competition.
4. Slow penetration (strategic slow penetration)
This strategy sets low prices and small promotions. This is done to get great acceptance from consumers with low marketing costs. The success of this strategy needs to be supported by a broad market, price-sensitive consumers, consumers knowing the existence of the product, and low competitors.
Stages of Product Launch
1. Start by doing competitive level research.
This step is very important for planning after the product is actually launched. You can also find out how they do marketing by reviewing the marketing materials they use, such as social media, websites, brochures, and other advertisements.
2. Targeting the ideal customer
Start looking for the ideal customer and give them a chance to try your product. Make sure you have the most potential and ideal target customers. This way, you can ensure that your product sales continue to run well in the future.
3. This gives the product a one-of-a-kind value.
At this step, you have to start creating special value from the product being offered. Because every product that has no unique value will never be able to attract new customers.
4. Trying to do a trial concept in marketing
You can also do a marketing bundle with similar products to introduce a new product. This method is often a successful marketing concept because many customers feel that the products issued by the company are the most suitable for them.
5. Make marketing strategies and tactics clear.
Determine the sales and marketing channels that you have. Are you going to focus on online marketing or do offline marketing? Without a good strategy, you will not be able to focus on marketing new products.
A New Product Marketing Strategy
1. Using social media Social
The media is a very powerful tool used as a marketing tool. Almost everyone has used social media with different environmental, religious, ethnic, educational, and ethnic backgrounds. By using social media, the company will make it easier to reach a wider target market at a lower cost. So, social media can also allow companies to choose the right community to market their products to, so that they have a great chance of selling their products.
2. Make attractive packaging.
In marketing, product packaging must also be considered. Attractive product packaging will make an impression that is remembered by consumers. There are many consumers who find it easier to remember the product being sold.
3. Offering products for free
This method is a powerful way to bring in consumers. This strategy is considered necessary because not all target markets have tried to use your product. Companies can organize an event or offer free samples to their target market.
4. Resellers and dropshippers are welcome.
To make it easier to do marketing, you can open a reseller and dropship for other people. With this marketing strategy, of course, your new product will be widely known by the public.
5. Participate in events or bazaars.
New product marketing strategies can also be implemented by participating in various events and bazaars in your city. Through this event, you can make a direct approach to consumers. In fact, you don’t need to look for consumers because, at events like this, of course, many people are enthusiastic about coming.