Product Launch Essay

1564 Words4 Pages

CHAPTER 2: LITERATURE REVIEW
2.1 Literature review
2.1.1 Product launch process
Product launch not only helps company increase the sale revenue but also expand their customer base by targeting new segments. A successful launch involves the contribution and collaboration of all departments, from R&D, Logistic, Sale, Marketing and so on.
There are many elements affecting to the success of a launching. The basic factor is to develop product that satisfies consumers’ demands and maintain the brand promise. However, consumers are not only looking for the quality of product but also concerning about the price, the promotion and so on.

To successfully launch new product into market, company should master product launch process. There are many concepts …show more content…

It involves the vital process of researching, promoting and offering products or services to a company’s target market. Marketing is an important business process where the company can inform, attract and convince people that its products or services are of value to them. Without Marketing, many businesses would be unable to exist or operate well in the market. They could offer the most amazing product or service in the market, but if nobody knows about its existence or understands its value, these companies are unable to make a single sale thus they may have to be out of …show more content…

The research on consumer behavior assists the organization recognize and forecast the purchase behavior of the consumers while they are purchasing a product. Thus, the study of consumer behavior helps the marketers not only to understand what consumer's purchase, but helps to understand why they purchase it (Kumar, 2004). There are a lot of elements which can influence the purchase decision of consumers such as social influences, cultural influences, psychological factors and personal factors (Super Professeur, 2011). Understanding these factors helps the company to market the product on right time to the right consumers in order to generate more profits. On the other hand, if the marketers fail to understand these components that might influence consumers, they will fail to convince the consumers to purchase that product or will fail to meet the demands of consumers. However, consumer behavior is one of the stimulating and challenging areas in marketing studies being a human activity focused on the products and services. Thus understanding the behavior of the consumers is a great challenge. Moreover, it is not easy to get a full picture of consumer behavior as customers make plenty of different buying decision every day and they usually do not know exactly what influences their purchase. In short, basing on all

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