As a businessman, of course you have bright ideas to present new products all the time. However, you shouldn’t be in a hurry to start launching a new product, you know!
So, skipper needs to do careful preparation and planning so that the new product launched can be well received by consumers. For that, you can start to develop a good strategy so that the skipper’s marketing is also smooth.
New Product Launch Strategy
Before starting a new product launch, of course you must decide on the right launch strategy so that your product is right on target.
In the strategy of launching a new product, you can also determine the high and low level of each variable in marketing, such as product quality, price, promotion, to product distribution.
Want to know the right strategy for Juragan’s new product launch? Check out some of the following strategies!
1. Rapid skimming strategy
A quick launch strategy, also known as rapid skimming, 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.
Even consumers are willing to pay for your products at very high prices. This can be done to face potential competition and build your brand preference.
2. Slow skimming strategy
The strategy of launching new products with high prices and little promotion is called slow skimming or slow launch strategies.
Through this strategy, skipper 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 are willing to buy at a high price, and there are no competitors for your product.
3. Rapid penetration strategy
Another product launch strategy that you can try is rapid penetration.
In this strategy, it is customary to set low prices and intense promotions. The goal is to gain faster market acceptance as well as a broad 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 great competition.
4. Slow penetration strategy
The next strategy is a slow penetration strategy or known as slow penetration.
This strategy is done by setting 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.
So, which strategy do you want to choose to launch your new product?
Stages in New Product Launch
Now, after you have determined the right strategy for the launch of a new product, there are several stages that you must carry out to make it fit the target.
What is the process for launching a new product so that it can be well received by consumers? Of course you are also wondering, right? Well, here are some steps that you can do in launching a new product.
1. Conduct research on competitor products
The first step that you need to do before launching a new product is to do research on competing products that are already known to the public before.
You can track sales journals, brochures, competitor websites, and various information related to the competitor’s products. This is important to do so that Juragan’s new product launch can be even better.
2. Determine the right target
In order for your product launch to run smoothly, you must have the right target.
You can start looking for consumers and give them the opportunity to try your product first. This can provide opportunities for the skipper in future sales.
3. Relying on the uniqueness of the product
The next step that you need to do is to promote the uniqueness of your product.
Even though there are competitors for Juragan’s products, if Juragan’s products have their own unique value, of course, consumers can easily be attracted by the uniqueness of Juragan’s products.
This will also provide a separate reflection on the Squire product so that it does not seem the same as the old product that was first circulated.
4. Determine the appropriate marketing strategy
In the business world, you need to use the right marketing strategy in order to reach a wide range of consumers.
You can use marketing online, offline, or even take advantage of both. This needs to be considered carefully so that the marketing of Squire’s products is wider.
5. Doing the official launch
To introduce Juragan’s products to the public, of course Juragan can carry out an official launch by cooperating with bloggers, celebrities, or industry members related to Juragan’s products.
At this moment, you can provide an initial picture and strengthen the image of your product to the public.
Furthermore, you can also provide product samples or product tests to provide customers with a good experience. Do various promotions when launching products to attract buyers.
New Product Marketing Strategy
The increasingly modern era certainly requires you to try various ways to market new products. This is certainly a challenge for skipper in implementing the right new product launch strategy.
Of course, this can be helped by looking for examples of new product marketing plans from the internet as a reference for the skipper in marketing the product.
Well, for a brief overview, here are product marketing strategies that you can do.
1. Word of mouth marketing
The new product marketing strategy that you can try is word of mouth marketing by communicating directly with consumers.
If consumers are interested, then he will buy the product. If the consumer is satisfied with the product purchased, he will also recommend it to others to buy the Squire product.
2. Open reseller and dropship
To make it easier for you to do marketing, you can open reseller and dropship opportunities for other people.
With this marketing strategy, of course, Juragan’s new product will be more widely known by the public, right?
Well, then the skipper’s products will also be easier to sell so that sales will increase.
3. Participate in events or bazaars
Marketing strategies for new products can also be done by participating in various events and bazaars in Juragan’s city.
Through this event, skipper can make a direct approach with consumers, you know! In fact, skipper does not need to look for consumers because at events like this, of course, many people are enthusiastic to come.
4. Marketing through social media
Another strategy that is currently the most powerful way in product marketing is through social media.
Yes, this strategy is absolutely mandatory for businessmen like skipper for newly launched products.
You can take advantage of the various social media that are already available. Through social media, it will be easier for you to reach consumers from various circles through the available paid advertisements.
For that, you need to pay attention to the capital needed to run ads through social media. It’s very easy too!
Before launching a new product, you certainly need to think about the right new product launch strategy so that it can be well received by consumers.
Well, then you can market it through the right strategy to increase your sales.