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Innovation marketing in practice
A new product introduction in the market faces numerous problems. One is looking for the
most favorable financial solution, the other inquiring about the success of the product, the
third to learn how to beat the competition and attract customers. Studies show that 80
percent of new products in the first year disappeared from the supermarket shelves.
Marketing experts say that in order to avoid the product failure, it is necessary to create a
new product design, conduct the research and create original advertising.
Design
In order to attract success, it is necessary to impress the client. Cosmetic products sales are
held in the form of shows, where the introduction of a new product depends on the
commodity appearance. In order to make the product attractive to the buyer it is necessary
to use innovation. One of our examples is a face cream. A team of designers and advertising
tricks can significantly increase the sales of their products. In order to advertise the
women’s face cream a company may invite a Lithuanian TV star Asta Stašaitytė. The
introduction of a new product is often faced with traders’ claim that their store shelves are
not rubber ", local is not a new product. In this case, it is necessary to fight hard for their
product. The way toward the popularity of the target product can plow the field. Changing
production recipe or package design can tame even larger customer base.
Research
Introduction of new products into the market process will be successful after a detailed
market research. The results help to predict the product sales results, to understand
customer needs, requirements and preferences. During the investigation, it is necessary to
interview as many of the respondents to make sure they do not lie. The experience shows
that the survey participants always want to be better, smarter or more beautiful and adorn
their answers. It is a natural psychological factor that leads to educational and cultural
environment. Often, a number of respondents considered it necessary to buy a new
product. A great example was the investigation magazine National Geographic Kids. Almost
90 per cent of respondents ticked the response will subscribe the magazine. Unfortunately,
the first months of the magazine sales were much poorer than the survey showed. To avoid
inaccuracies of the marketing studies, it is necessary to interview more people. Asking
control questions to ascertain whether the respondent tells the truth, with the selection of
those who will not lie.
Advertising
One of the most effective methods regarding a successful marketing of a new product is
creative advertising. It is particularly important to promote their product breaking
stereotypes. A bold and innovative approach to advertising can provide new opportunities.
The most important and essential tool for product advertising is creativity. Without
imagination, it will be only a marketing project narration audience. Every day, all over the
world there are around ten thousand of new brands and products, and one person sees
more than five thousand of brands per day. For companies that have a limited budget and
cannot pay the money on advertising, it is advisable to apply guerrilla marketing. It is
advisable to create an original, unseen and customer focused product, which can attract
advertisers and require a modest amount of money.
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