Marketing strategy : how to manage a product launch ?
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Discover the key steps to to prepare and manage a product launch. This presentation will give you best practices for intronucing new products on a market with success.
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Marketing strategy : how to manage a product launch ?
- 1. MARKETING STRATEGY How to prepare and manage a product launch ? 1
- 2. Summary 1/Build a marketing plan 2/Communicate 2
- 3. 1/ Build a marketing plan a) Define your business goals - Increasing awareness of your products and services ? - Selling more products from a certain supplier ? - Reaching a new customer segment? - Introducing new product on the market The SMART method: Specific Measurable Achievable Relevant Time-bound 3
- 4. 1/ Build a marketing plan b) Profile your customers - BtoB or BtoC ? - Identify their needs - Review trends 4
- 5. 1/ Build a marketing plan c) Product positioning and competition Focus on both internal and external background SWOT : Internal origin Attributes of the organization External origin Attributes of the environment SStrengths W O T Weaknesses Opportunities Threats 5
- 6. 1/ Build a marketing plan d) Marketing mix 6
- 7. 1/ Build a marketing plan e) Evaluate to good timing oProduction oDelivery oMarketing tools oTraining 7
- 8. 1/ Build a marketing plan f) Product follow-up oAre your marketing goals achieved ? oAnalysis the sales oFocus on your internal range (cannibalization, seasonality, …) o…. And on external background (market share)
- 9. Agenda 1/Build a marketing plan 2/Communicate 9
- 10. 2/ Communication a) Media kit oInternet (web, newsletter, emailing, social network…) oPublicity (press,… ) oExhibition 10
- 11. 2/ Communication b) Sales tools oCatalogues oManuals oVideo oPackaging oLeaflet oDisplays 11
- 12. 2/ Communication c) Training oSales force oCustomers 12
Editor's Notes
- First step for your business strategy is to build a marketing plan. You need to think about 6 steps. It will help to definie the content and the support
- In order to define your business goals, you can use the SMART method: Specific - state clearly what you want to achieve Measurable - set tangible measures so you can measure your results Achievable - set objectives that are within your capacity and budget Relevant - set objectives that will help you improve particular aspects of your business Time-bound - set objectives you can achieve within the time you need them.
- BtoB or BtoC : in France the sells Sanicompact in DIY represents 60% Why ? It’s easier for end users fo buy 1 piece (I mean a compact) rather than a WC and a sanibroy. And it’s also easier to install since there is only 1 piece. You also have to identify their buying patterns, including how they buy, where they buy and what they buy. So you don't miss out on new opportunities or become irrelevant with your marketing message. For the sanicompact, the main advantage is the water saving. The flush is 1,8L/3L (instead of 3/6L) (While you try to find new customers, make sure your marketing strategy also allows you to maintain relationships with your existing customers).
- as part of your marketing strategy you should develop a profile of your competitors by identifying their products, supply chains, pricing and marketing tactics. Use this to identify your competitive advantage - what sets your business apart from your competitors. You may also want to identify the strengths and weaknesses of your own internal processes to help improve your performance compared with your competition. For Sanicompact : Strenghts : Water saving Weaknesses : cannibalization (do you will sell more sanicompact instead of sanibroy?), is your performance will be the same Opporunities: enter new market like DIY Threats: competitors have a large market share
- The 5 Ps are a set of recognised marketing tactics, which you can use in any combination to satisfy customers in your target market. Combining these different marketing tactics to meet your customers' needs and wants is known as using a 'tactical marketing mix'. Product Product refers to what you are selling, including all of the features, advantages and benefits that your customers can enjoy from buying your goods or services. When marketing your product, you need to think about the key features and benefits your customers want or need, including (but not limited to) styling, quality, repairs, and accessories. For Sanicompact, you need to think about water saving, soft closed seat, and so on Price This refers to your pricing strategy for your products and services and how it will affect your customers. You should identify how much your customers are prepared to pay, how much mark-up you need to cater for overheads, your profit margins and payment methods, and other costs. To attract customers and retain your competitive advantage, you may also wish to consider the possibility of discounts and seasonal pricing. For Sanicompact, is it cheaper to buy 1 piece or to buy a WC + a broy ? Promotion These are the promotional activities you use to make your customers aware of your products and services, including advertising, sales tactics, promotions and direct marketing Place Place is where your products and services are seen, made, sold or distributed. Access for customers to your products is key and it is important to ensure that customers can find you. You can set yourself apart from your competition through the design of your retail space and by using effective visual merchandising techniques. If you are not a retail business, place is still an important part of your marketing. Your customers may need a quick delivery turnaround, or want to buy locally manufactured products. Are Australian people are handymen ? Is the DIY market developed ? People People refer to the staff and salespeople who work for your business, including yourself. When you provide excellent customer service, you create a positive experience for your customers, and in doing so market your brand to them. In turn, existing customers may spread the word about your excellent service and you can win referrals. Give your business a competitive advantage by recruiting the right people, training your staff to develop their skills, and retaining good staff. You also need to train the sales force
- There a good timing to introduce a new product in the market. If your product replace an old one, make sure your stock is not too high. When introducing a new product on the market, make sure the production is done, your customer can be delivered quicly and your marketing tool are ready (packaging, complete information available on Internet, trained sales forces) before starting communicate on it
- Introducing a new product is a good thing but you need to measure this launch and be able to drive corrective actions if necessary
- First step for your business strategy is to build a marketing plan. You need to think about 6 steps. It will help to definie the content and the support
- As I told you before, don’t forget the agency might not know your company, your product and your customers. You’ll have to explain the key points, Inditity is blue => don’t use too many blue Brand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.
- As I told you before, don’t forget the agency might not know your company, your product and your customers. You’ll have to explain the key points, Inditity is blue => don’t use too many blue Brand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.
- As I told you before, don’t forget the agency might not know your company, your product and your customers. You’ll have to explain the key points, Inditity is blue => don’t use too many blue Brand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.