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Developing a strategy for product launch
A marketing strategy will give the outline in which a given marketing mix will attract, satisfy and retain the target market while accomplishing an organization's objectives. The launch of the product will play an important role in the promotion and selling of the new product. Every one of the successful launches and branding strategies are always an integrated process that involves many areas of the business and should include both external and internal market issues. In our case, let us consider the launch of better life kitchenware in the market. Launching of the product should not be complex nor should it be exceptionally expensive. The first step in the launch of our product will be Article submission. We will write informative and interesting articles about the Solomon modems and submit these articles to directories. A link to the product website will have to be included. We will also pick best selling newsletters and include our link in them, this will give us new clients and an increased new traffic to our website. Affiliates can also be used to advertise for our products. They are usually paid after they have helped to attract traffic to our website. The advantages of the above methods are that they are cheaper, low risk and effective (Center for Business Planning 1994-2010).
Strategic approach to marketing the product
In today's competitive market, a concrete marketing strategy that will ensure that there's consistence offer of the product in question and be able to outsell the competitors is critical. Thus a well defined methodology for implementing the strategy to run the process is needed. The marketing segmentation, competition and other selling strategies are digested Resources to implement the strategy are needed as well as the expertise to run the implementations are vital. Many factors are therefore considered because of the many unique considerations that are to be met for each strategy (Waters S. 2010). These factors include; pricing, promotions, product distribution, market environment, completion, profit potential, cost of entering the market and customer services. Another strategy that can work for us is creating a blog by using free blogging software and including interesting content about our product. We will keep this lively by updating the blog regularly as this will also attract traffic to our blog. Another method that can work is by using video syndication. It is imperative to develop videos to showcase what is on offer. These videos can be distributed for free to give customers more information on what is on offer (5 Highly Efficient and Cos Effective Product Launch).
There are several things that we will need to look at, these include: The price of the product is very crucial as it will define the net income from the business and a long term objective for market control. For a new market that we need to penetrate and whose income is not critical for the short term we will need to price our products lowly, this will help eventual market control. Another aspect that we will deal with is that of promoting the product. The two methods of promotion, push and pull, will be used. For the push strategy, we will use all the available channels of distribution into the market. By giving out discounts we will achieve the objective of giving incentives to these channels that will in turn promote the product and minimize advertising needs. After the push strategy, we will employ the pull strategy that will involve committing to advertising and create an atmosphere that the end user cannot ignore (5 Highly Efficient and Cos Effective Product Launch).
The distribution methods will also be carefully selected to ensure that the product reaches the customer. We will use wholesale sales and middlemen to ensure that the product reaches the retailers. Employing also the direct sale using a direct in-house selling organization through the internet, telephone and mail order contact to ensure that we do not lose our high end consumers who do buy in bulky. Last but not least, the profit potential should be analyzed to ensure that the factors influencing potential to generate profit can be maintained over an extended period of time. Factors like competitive retaliation, availability of substitute solutions, market potential and its growth and the freedom of the business to make independent decisions without any influence from suppliers, investors and any outside influence are considered.