What you need to know when launching a new product

Price, Packaging & Promotion

You have to know the 3 P’s – Price, Packaging, and Promotion. What is the price of your product? As a new product to the market, it is important to be sure your price is competitive. It’s equally important to be sure you stand out to your target market. What imagery would appeal to your audience?

The promotions you use could also help introduce your new product to the market. What additional add-ons could someone receive if they purchased your product.

Audience & Competition

You must know who you are targeting. What do they like? What inspires them to buy? You really want to be sure all elements of your product appeal to your audience. You also need to be mindful of your competition. What are your strengths, weaknesses, opportunities and threats? Be honest about your product so that you can accurately produce and market it.

Contact Dream Guider for assistance developing and launching a new product.