2 Responses to “what things to keep in mind; i am entering the market with a brand new product?”

1. doug02346 on October 1st, 2008 10:55 pm
   Contact me by email if you want.

   The approach depends on the product and where you are from. If you’re from the us you can get free advice from the SBA and the SBDC. Check out and Whether you plan to market it in the US and it is something that is manufactured you should get a patent. The cheapest route is to get a preliminary patent. It only costs $200 and will protect you for one year. That will give you time to get the product to market and selling.

2. Nico forever soar on October 2nd, 2008 9:51 am
   Product development is easy as long as you understand your objectives and you know where you want your product to go.

   here are the few Things to consider:
   1. Know your target market and how you can get their attention.
   2. know the demands of your target market, and how are you going to position the product to their minds. (ex: you can make your product look natural, or expensive, or cheap.. it depends on you)
   3. make the product! work on the over-all features such as labels, packaging, brand name, color, brand theme.
   If you have a branch/store make sure that the image of the store is somehow related to the product (ex: if you sell organic product, the store can’t be that colorfuL. the theme must be earth designs)
   4. Work on your communication plan
   4.1 Consumer insight on your product
   4.2 demand insight ( How can you make your target market demand for your product? is it the uniqueness? affordability? convenience?
   4.3 Position your brand (is it the kind of brand that is an alternative of the leading brand? or the better product?
   4.4 create a distinct image (Brand Image is important)
   4.5 work on communication plans such as advertising, PR, media planning, events or direct selling.

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