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I read a great post on the Rocket Watcher blog today on launch marketing for startups by product marketing expert and blogger April Dunford. In particular, this perspective on the launch marketing and product release process shows how the pre-release (aka. Register now to receive this step-by-step guide containing strategies and best practices to create buzz and drive sales using the power of the Web and social networking.
Collaterals and Lead Generation, Sales and Channel Training, Customer Relationship Management, Funnel Analysis, Market Assets at Different Sales Stages, Technical Tools Vs.
As the Indian Product industry evolves from outsourcing to ‘product creation’, most companies in India look forward to transforming their technology professionals into product leaders. According to Cincinnati based research agency AcuPoll, as many as 95% of new products launched each year fail.
Traditional advertising is an effective way to communicate your new product or service to your target audience. With almost 99% of US households owning a television, advertising on TV is among the most effective ways to reach your target audience.
TV advertising that drives a new product introduction will shorten the time it takes for your product to become a hit. Radio allows you to reach 93% of your local consumers every week, making it the most dominant out-of-home media in the US. In the business-to-business world, there is almost nothing better than getting your message out in your target audience’s trade publication. By reaching people where they drive, live, work and play, you can deliver your new product in an inescapable way. Before you consider expanding into other areas of online marketing, you need a website or blog that can act as your home base. A landing page is the first page on your site that a visitor will see, even before they reach your homepage. Pay-per-click marketing services from Google, Yahoo and Bing can boost awareness of your new product launch and put you in front of a very targeted audience. Facebook, Twitter and YouTube can all be used as a great way to inform current customers and contacts about your new product. Social Media Influencers – Determine the most active social media users in your target market and begin to create a relationship with them. Without the proper promotional literature in place to support your launch, your business is going to struggle to capitalize on any interest that is shown to your product. Promotional items are an excellent way to advertise your new product, they have many advantages that other marketing ideas can’t compete with. Journalists, bloggers, reporters and news editors all get press releases for new products all the time. Your press kit is a valuable public relations tool that can be handed out in both print and electronic versions.
Businesses choose to launch their new products during conferences and association meetings because they give you exposure for your business. By meeting with other business people in the community, you can get in front of those who might otherwise not have been aware of your new product.
Launching your new product or service at a seminar is a time efficient way to get it in front of as many clients as possible. Instead of relying on a large budget, guerrilla marketing uses time, energy and imagination to get attention for your product. If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.
Looking for a new advertising agency or marketing firm to assist us with a new product launch, plus other services.
Definition: Product LifecycleAny new product undergoes different stages from introduction to growth, then maturity and finally decline. Here's a resume sample for Marketing and Product Management with focus on project coordination and team leadership. This and other resume examples in this collection were created using professional resume formats from my Ready-Made Resume program. Filed under Marketing Resume Samples, Project Management Resume Samples and tagged Age Discrimination, Combination Resume Samples, Promotions, Same Career Path. A product's life cycle (PLC) can be divided into several stages characterized by the revenue generated by the product. When the product is introduced, sales will be low until customers become aware of the product and its benefits.
During the introduction stage, the primary goal is to establish a market and build primary demand for the product class.
Price - Generally high, assuming a skim pricing strategy for a high profit margin as the early adopters buy the product and the firm seeks to recoup development costs quickly. Distribution - Distribution is selective and scattered as the firm commences implementation of the distribution plan. Price - Maintained at a high level if demand is high, or reduced to capture additional customers.
During the maturity stage, the primary goal is to maintain market share and extend the product life cycle.
Product - Modifications are made and features are added in order to differentiate the product from competing products that may have been introduced. Distribution - New distribution channels and incentives to resellers in order to avoid losing shelf space. Eventually sales begin to decline as the market becomes saturated, the product becomes technologically obsolete, or customer tastes change. Harvest it, reducing marketing support and coasting along until no more profit can be made.

Promotion - Expenditures are lower and aimed at reinforcing the brand image for continued products. The term "life cycle" implies a well-defined life cycle as observed in living organisms, but products do not have such a predictable life and the specific life cycle curves followed by different products vary substantially. Nonetheless, the product life cycle concept helps marketing managers to plan alternate marketing strategies to address the challenges that their products are likely to face. This web site is operated by theInternet Center for Management and Business Administration, Inc. This form of advertising is very powerful because it helps your new product gain instant credibility and puts you in the same realm as large companies in the mind of consumers. It reaches targets when they have less to distract them, so the percentage of people who are actively paying attention to your ad is the highest of any mass media. If gearing your new product to a more general market, newspapers are worth considering, due to the fact that they are consumed by nearly all segments of the population. These publications are really targeted to particular industries and sometimes even segments of an industry. According to the Advertising Specialty Institute (ASI) Impression Study, the cost per impression rate of outdoor advertising is also the lowest in the industry at $0.003, making it a great value.
Aside from containing useful information about your company, your site needs to contain information about your new product.
A person can reach it by entering a URL or by clicking a link from an e-mail or another website.
Research the most widely read blogs and websites in your target market, and purchase banner advertising there.
Placing your product on Amazon, eBay or Google Product Search puts it in front of people who are already inclined to buy. By placing your new product in the hands of those who can influence others by means of a product review, you can expand your reach. Be familiar with their blogs, audience and content before providing them with any information about your product. Other forms of marketing and advertising don’t create something that makes people remember your new product, much less motivate them to go out and buy your product. By placing you in front of journalists and other industry insiders, they’re an opportunity to introduce or reintroduce people to your company.
A seminar allows you to build a case and vision for your product while you’re educating clients about it.
You want to get your launch off on the right foot by exceeding customer expectations, starting with their first impression of the product. Your campaign should be unexpected and interactive in order to generate a positive buzz for your business. This impressive resume shows a strong thread of success throughout the job seeker's advancing career.
By creating a list of his job titles under Almost Nike, Harry makes his promotions and his loyalty to the company very clear. Harry wanted to add two experiences without listing dates because they happened so long ago. In the Education & Training section, Harry continues to promote his strength in leadership by listing a Team Leadership seminar he'd attended. Provided budget management to accounts, ensuring that key items were advertised; wrote and presented marketing briefs on ROI for senior executives.
Its duration may be as short as a few months for a fad item or a century or more for product categories such as the gasoline-powered automobile.
Some firms may announce their product before it is introduced, but such announcements also alert competitors and remove the element of surprise. In some cases a penetration pricing strategy is used and introductory prices are set low to gain market share rapidly. Sales increase as more customers become aware of the product and its benefits and additional market segments are targeted. Consequently, the life cycle concept is not well-suited for the forecasting of product sales.
It also is useful for monitoring sales results over time and comparing them to those of products having a similar life cycle.
Maybe, businesses don’t reach early adopters soon enough, or their promotional marketing programs don’t support their product introductions. The combination of the visual and audio sparks the viewers’ emotions, helping them to identify with your new product. People also expect to find ads in their newspapers; they often buy them just to read the ads. They’re usually only of interest to people who are truly, fanatically obsessed with that particular field; these tend to be early adopters who are constantly up-to-date on the latest trends.
Feature it on the homepage of your site and create a product specific landing page that features photos, videos, product descriptions and other content you want to share.
There are many techniques to attract people to your landing page, including search engine optimization, social media, advertising, email, etc.
You can offer a sneak peak of your never-before-seen product, pre-orders, or other exclusive content. Promotional products ensure that your product launch is memorable because they stick around.
It lets you target prospects very precisely and gets your marketing campaign moving quickly, sometimes in the span of a few days. By providing journalists with a greater amount of information, there’s a better chance they’ll cover your item.
They’re a natural gathering of your audience ready to listen to your pitch, and are a proven method for finding business and making new connections.

They’re typically held at traditional meeting spaces like conference centers or hotels, and can also work in conjunction with major trade shows or industry conventions. Group members won’t necessarily be a part of your target audience so you get a different viewpoint. It gives you a solid foundation from which to talk about your new product, while allowing smaller companies to appear larger than they really are. Pass out promotional products and literature on the new product so that prospects have something they can take home with them.
It can be as simple as sending out a short thank you email or a follow up appointment request. After you've read his resume, take a look at the cover letter Harry used to apply for an Executive Marketing position. He follows up on that with mentions of leadership in his Summary of Qualifications and Professional Experience sections. So, he created a section called "Previous experience includes" at the end of his Professional Experience section.
As the product progresses through its life cycle, changes in the marketing mix usually are required in order to adjust to the evolving challenges and opportunities.
Advertising costs typically are high during this stage in order to rapidly increase customer awareness of the product and to target the early adopters.
Once the product has been proven a success and customers begin asking for it, sales will increase further as more retailers become interested in carrying it.
Unit costs may increase with the declining production volumes and eventually no more profit can be made. Today, consumers get information from multiple sources; this requires multiple marketing channels to ensure the success of your launch. You’re reaching a large segment of your audience at a point when they’re highly engaged in what you have to say.
But remember, the most important objective of your landing page is to convert visitors in line with your goals. Send messages on a regular schedule to keep your product or service in the minds of your contacts. Or even worse, they may remember that they were very interested, but didn’t have a chance to investigate further.
Even if you can’t find something that relates directly, you could always create a miniature replica of your product and attach it to key chains, pens, or other items. Sales letters, self-mailers, statement stuffers, postcards and CD mailers all give you different avenues through which to target prospects depending on your product or budget.
There can be a lot of work involved in the planning of your trade show product launch, but they’re an excellent way to create anticipation and build excitement for your new product. Invite journalists as well as your target clients and make sure you set goals for the seminar.
Have someone dress up as your new product and mingle through the crowd passing out promotional items. During the introductory stage the firm is likely to incur additional costs associated with the initial distribution of the product. For example, if sales peak and then decline, managers may conclude that the product is in the decline phase and therefore cut the advertising budget, thus precipitating a further decline.
Second, magazine readers tend to be part of a better educated audience, making them more open to new ideas or products.
If your landing page is a product page and your goal is to get a user to order, your landing page is a success when they add the product to their cart. You need to continue to manage and communicate with your followers in order to build relationships. The cost per impression rate of promotional products is extremely low, at an average of $0.004, according to a ASI Impression Study.
Your promotional item raises awareness for your new product and build anticipation for its launch. This gives staff time to network with potential clients, and shows how professional you can be.
This helps you remember the names of people you might have forgotten, and the tags left over tell you who didn’t show.
These higher costs coupled with a low sales volume usually make the introduction stage a period of negative profits.
The competing products may be very similar at this point, increasing the difficulty of differentiating the product.
The firm places effort into encouraging competitors' customers to switch, increasing usage per customer, and converting non-users into customers. They already target a very specific market, making it easy to line your market up with theirs.
On the other hand, the majority of attendees probably don’t know you or your business, so you can get unfiltered responses to how your product is really perceived. This not only increases the strength of the group, but it promotes an exclusive audience for your new product with little to no competition.
If your customer hasn’t seen any advertising about the product, this could be your only opportunity to connect with them.
Sales promotions may be offered to encourage retailers to give the product more shelf space over competing products.

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