Supporting a new product introduction can be easily compared to a juggling act. Lots of balls in the air. You have to get the right marketing tools in place, on time, on budget, to create the right impression on your target client or customer. Here are a few “Flaws” in planning…
Flaw 1: The company can’t support fast growth.
Flaw 2: The product falls short of claims and gets bashed.
Flaw 3: The new item exists in “product limbo.”
Flaw 4: The product defines a new category and requires substantial consumer education—but doesn’t get it.
Flaw 5: The product is revolutionary, but there’s no market for it.
If a product isn’t really ready for its introduction or is ill conceived, even the best marketing tools are of little help. Here’s an interesting look at why new products often fail from the Harvard Business Review.
Case study about marketing a new product introduction.
I found this very interesting due to the fact that our client has a new product. Its true we have to find a good focus market that fits in with our clients budget and needs. We also have to be prepare our client for both ups and downs. Having a client with a new product is very difficult, but this list helps a lot. Now we know what not to do!