Marketing Strategies For A New Product Essay examples

Marketing Strategies For A New Product Essay examples

Length: 735 words (2.1 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

1. Market positioning is how a company wants their customers to perceive their product or service in relation to their competitors and what marketing strategies they should adopt to reach this perceptual goal. When developing a market position they select the most persuasive, meaningful and unique points of difference that will allow them to compete for the largest number of potential customers. Some companies develop a 'me too ' strategy and position themselves close to their competitors so prospects can make a direct comparison when they purchase. Other companies develop marketing strategies which position them well away from their competitors. Offering a benefit which is superior depends on the marketing mix strategy that each company uses. Pricing strategy must reflect the benefit offered and their promotion strategy must clearly communicate this benefit.
2. Market research is the process of looking at how well a new product or service will be in a market through surveys, products testing and focus groups. This may be conducted by the company itself or may be farmed out to a thi...

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on The Role Of Marketing For New Product Development And Launch

- New product development is an essential key for a company to survive or stay competitive in the highly changed business environment nowadays(Annacchino, Marc A, 2003). Although technology plays an important role in the development of new products, the role of marketing should not be underestimated. A result illustrates that companies with a marketing department which has strong capabilities and skills are more likely to be more successful with their new products(Drechsler et al.,2013). Hence this essay will investigate the role of marketing played in the different stages of new product development and launch....   [tags: Marketing, Product life cycle management]

Better Essays
1437 words (4.1 pages)

Marketing Plan For A New Product Essay

- This paper will detail a strategic marketing plan for a new product that is ready to “go to market”. A strategic marketing plan is important when presenting a new product or service because it ensures that the maximum amount of profit can be obtained for the product. A good strategic marketing plan provides focus and helps to pinpoint opportunities. A strategic marketing plan incorporates an executive summary, target marketing, place, product, pricing and promotional strategies, and a distribution plan....   [tags: Marketing, Marketing plan, Hairdressing]

Better Essays
2276 words (6.5 pages)

Apple's Marketing Strategies Essay

- Marketing is a tool that is constantly utilized in business. This tool allows customers to familiarize themselves with the products they are purchasing or are interested in purchasing. Companies spend billions of dollars annually marketing their products to hopefully attract consumers. Apple often markets their company as the ones who “Think Different”, but surprisingly Apple’s spending amount on marketing is fairly low compared to its amount of sales and the size of the company. Apple is able to keep the cost low all thanks to specialized marketing strategies....   [tags: marketing plans, objetives, attention]

Better Essays
1362 words (3.9 pages)

Role Of Hypermedia And Marketing Strategies Essay

- Role of Hypermedia in Marketing Marketing through hypermedia, such as television, radio, and social medial, is one of the most popular strategies of corporations at present. It has been proven to be effective in spreading information to consumers across all social levels. Hypermedia marketing is developed through a computerized network utilizing the World Wide Web (WWW) platform to reach out to millions of people and related business enterprises. Consumers are introduced to products marketed over this platform and depending on the quality of the marketing, may be urged to purchase the said products....   [tags: Marketing, Business, Product, Sales]

Better Essays
1659 words (4.7 pages)

Customer Satisfaction And Product Development Essay

- New product development is the process of introducing a diverse product in the existing, emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments....   [tags: Marketing, New product development]

Better Essays
1953 words (5.6 pages)

Marketing Plan For New Product Development Essays

- New Product Development is the process of designing, creating and bringing a new product to market. It is important that when businesses develop new innovations, they have the following eight stages included in the product development. By setting out the steps involved, and sticking to them, the product development will become a more focused and flexible approach that can be adapted for different types of products and/or services. This also applies to the public sector.  Idea Generating – This process will normally start with the product concept....   [tags: Marketing, Strategic management, Idea, Management]

Better Essays
722 words (2.1 pages)

Essay on Marketing Strategies For Marketing Objectives

- Marketing Strategies to Reach Marketing Objectives It is essential to consider marketing strategies in order to reach marketing objectives. This process can be broken down into four sections. The sections are product strategies, pricing strategies, promotion strategies and distribution strategies. All of these subjects are important to acknowledge when developing a marketing strategy and must be considered equally. Examining each part will provide a clear and complete interpretation of what the marketing plan in China for the iPhone should be....   [tags: Marketing, Apple Inc., Marketing plan, Steve Jobs]

Better Essays
972 words (2.8 pages)

Critical Success Factors For New Product Development Essay

- This essay is about what are the critical success factors in new product development. This will cover what the latitude say about the factors that determine new product success. The five most important success factors will be listed and evaluated. Conclusions will also be given as to what the overarching issue might be for executing the success factors. In today’s markets there are high levels of Competition in most areas. The introduction of new products is commonly viewed as a medium for profitably and growing the businesses (Yenipazarli, 2015)....   [tags: Marketing, Marketing research, Product management]

Better Essays
1255 words (3.6 pages)

Marketing Strategies For The Guerrilla Marketing Strategy Essay

- Effectively introducing the standards to using guerrilla marketing strategies provides proper association towards gaining better profits for several types of businesses. With the major focus on the development of small businesses, the basis of including real marketing techniques to express efficient management will increase the potential market share for the industry overall. The marketing trend enhances the current strategies that managers use to promote their businesses, which includes the use of the marketing mix....   [tags: Marketing, Business, Guerrilla marketing]

Better Essays
1060 words (3 pages)

Essay Marketing Strategies

- Price, product, place and promotion, the four Ps of marketing, are fundamental for successful marketing communication. One of its goals is building and reinforcing relationships with clientele, retailers and other people who the company markets their products to. But the main objective is to reach \a target market and affect their behavior through informing, convincing and reminding. They must reach out to new consumers and persuade then them to purchase their product, while at the same time they must preserve their current customers....   [tags: Marketing]

Better Essays
1520 words (4.3 pages)