Your SlideShare is downloading. ×
New software “Product”? What NEXT?
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Introducing the official SlideShare app

Stunning, full-screen experience for iPhone and Android

Text the download link to your phone

Standard text messaging rates apply

New software “Product”? What NEXT?

104
views

Published on

"Once a software product has been developed it is tested for bugs and fixed. It is then tested in “test markets”, based on its successful performance it is ready to be marketed and sold in a target …

"Once a software product has been developed it is tested for bugs and fixed. It is then tested in “test markets”, based on its successful performance it is ready to be marketed and sold in a target market. Every product goes through different stages based on which marketing mix can be decided
Software product however exhibits different behavior in market on grounds of its malleability and ease to change in later stages.
"

Published in: Technology, Business

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
104
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Had an IDEA? – Translated into a “Product” - > What NEXT?Once a software product has been developed it is tested for bugs and fixed. It is then tested in “testmarkets”, based on its successful performance it is ready to be marketed and sold in a target market.Every product goes through different stages based on which marketing mix can be decided.Theoretically every product in market follows four different stages i.e. Introduction, Growth, Maturityand Decline which constitute the product’s Life cycle. Software product however exhibits differentbehavior in market on grounds of its malleability and ease to change in later stages.At any given time, any product is estimated to be in one of these stages. This influences the marketingstrategy to some extent. For instance, the promotional strategy to be adopted in “Introduction” phaseaims at gaining popularity for the product before actually penetrating into market through pricingstrategies. We have covered these topics in later stages under Branding.Similarly, during “growth” phase acquiring market share becomes critical. Significant amount ofinvestment may be required in this stage to enhance sales. This phase involves increase in competitionwhich may initiate cannibalization in some cases. Market segmentation and product branding istherefore important in this phase to reduce negative effects of releasing similar products by the samecompany. iPOTT being an end to end provider of innovative and cost effective services in the areas ofknowledge management, sales enablement and consulting offers a unique and unbiased platform forsoftware product companies worldwide to reach their target markets.Once the product sustains growth phase, it moves into product “maturity” phase. During this stage“Product Differentiation” is key to ensure stability in sales, to avoid further cannibalization and toreduce competitor activities. In case of other products’ life cycle a “Decline” phase is defined whereinbuyers resort to alternative products either because they already own the product or because ofadditional features in new product. Pricing strategy is the only way to reduce stocks and increase sales.In case of Software products once it reaches maturity phase, market research can be initiated again toidentify other features that maybe incorporated into the existing product to increase its longevity inmarket. Such enhancements can constantly be incorporated into software products and differentversions released to improve compatibility to current technological growth. Versioning is an ongoingprocess and therefore the decline phase can be controlled in this context.For more information on how “a Successful Marketing Strategy can make your Product a Winner incrowd” please click hereTo subscribe to our Go Goal blog, please click here