New Product Sales and Marketing Strategy Essay

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New Product: Debut to Target Market

Developing and refining a new product is an exciting time, particularly one that fulfills a clear and present need of consumers all over the world. Introducing a new product to the world is even more exciting, especially if that product has done well with test markets. Introducing a new product to existing and new markets requires strategy and motivation in order to get the product into the hands of the people who are going to use it, love it and tell their friends. The key to doing this successfully is to truly understand your product and to promote it to the target markets using proven strategies for both sales and marketing.

Product Description

This product was born out of the fact that the world of business, sports and entertainment has evolved at a rapid pace and continues to each day, and for the average professional, it can be daunting to keep up with. However, the professional obligation demands that one keep up with it, because that is the expectation. Hence, the product proposed is a mobile app called ReachOut that provides two distinct services. The first service that it gives the user is that of a personalized social media marketer/manager for their behalf (if say, the user is a celebrity or public personality) or for their company/brand/product. The user initiates themselves into the app by entering all relevant information about their brand as a personality or their company or field.

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They enter all relevant details, such as what they do, what their goals are, who their competitors are, and what some of their obstacles are. The app then makes suggestions about what to do on social media, such as how to promote their content, people to respond to, people to network with, and articles to post. It’s essentially like have a social marketing guru in one’s pocket and with one every step of the way, helping one navigate the fast-paced world of social media.

The second service that the product offers is that it is constantly scanning and curating the photos on your phone, noting that ones that are appropriate for posting, including one’s that the user might have overlooked. Furthermore, the app can also track the user’s location using GPS and can send alerts of things or landmarks to snap photos of to post on social media so that one can strengthen each post with a photo image.

Strategy for Entering Markets

Obviously the prospective consumers who would need and frequently use this product are numerous. However, when starting out, it’s crucial to pinpoint the market with as much precision as possible so that there is a deep and innate comprehension of exactly who one is selling to. For example, instead of all women from 18-35, it might be upper-middle class women….....

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References

Kerin, R. A., & Hartley, S. W. (2016). Marketing: The core (6th ed.). Boston, MA: McGraw-Hill.

Martin, M. (2016, September 13). How To Enter A New Market. Retrieved from https://www.cleverism.com/enter-new-market/

Monosoff, T. (2007, 29). How To Market A New Product. Retrieved from https://www.entrepreneur.com/article/179084

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