An Alternative, Inexpensive Way to Penetrate the Market For a New Product

by:CAI YI JIE     2019-09-22
Another cheap way to penetrate the market for new products my consulting company receives an average of 2 new products submitted by entrepreneurs every day.We saw nearly 700 such products last year.They went from stupid to spectacular.Most of these concepts actually have some business value.
Still, less than a dozen of these products will enter the market.There are many reasons for successful product launches.The process is challenging and many people are not ready to fight.
Many people dream that their ideas or ideas can succeed, but they don\'t have any risks or costs for themselves.There are also people who have, regardless of the consequences, expanded the valuation of their products and, therefore, unrealistic expectations.From this proliferation of creativity, there are always gems with all the essential elements necessary for success.
The constant, however, is almost always capital;Or missing it.A certain level of working capital base is always necessary for the market launch, licensing or creation of strategic alliances for new products.Over the years, we have been successful in using guerrilla strategies, reducing the level of investment, bringing products to market and gaining a positive \"life certificate \".
This strategy has been proven successful over and over again and minimizes the cost of full paymentExpand inventory building before successful opportunities are fully reviewed.Our goal is to minimize risk before buyers and professional decisions give us a clear and positive green light-Manufacturer in product category.We just got back from a family and Garden Show in Orlando where we used this strategy to successfully launch a garden tool.
We got a 10 feet display stand from the show management (the smallest and cheapest at the show ).For about $200, we made a very professional vinyl logo in a local franchise store.Our client has a friend with a creative photography talent and we used him to take stills of the product in a beautiful garden.
The client\'s wife did the dubbing, we edited the photos into a video loop, and we ran continuously during the show.This brings us one of the trickiest questions: how do you show the product when you haven\'t set up your inventory yet?We must solve this problem frequently.We have our graphic artists create art for the product based on the creative direction we offer.
This art is the basis for packaging that contains products, counter displays and sales collateral.We have two products actually produced.IMPORTANT!This must be a prototype of production quality.It must have all the features and benefits that the factory production pieces will provide.
Don\'t take shortcuts here.
These are the demo models we use to dazzle buyers.The next step is to look a lot bigger than we actually do.We do this by using the boutique presentation demo.
We use graphic art to create two, three or four counter displays.These are all done on a local printer, hand die-cut and assembled.The front of the display content is decorated with graphics, but there is actually no product.
Behind the front layer of the graphic dress up, but in the empty product box, we have blank space to make the display look full.Usually all the virtual display content is stuck together.Sales promotional materials are printed on the basis of the ideas we use on display and unit cartons.
This brochure decorated the Copy points on the unique features and advantages offered by the product, and made a more comprehensive expansion.Prices, terms, conditions and contact numbers are also included.The process I described saved tens of thousands of dollars for our customers, shortened the process of entering the market, confirmed the market potential, or occasionally confirmed the possibility of failure.
In these programs, we alsoSales based on the future delivery date we verified with the factory.These orders are often the basis for financing rounds or factoring of purchase orders.The essence of this strategy is simple: our customers may be the smallest entity at the trade show, but they have positioned themselves as being rolled out in big boys, this is just a fraction of the cost that most new products generate during the launch of the market.
When these strategies are properly implemented, new excitement and energy will be released, and the invention will be supported and pushed into the store
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