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Topic: stages in developing and launching the products and suggest some solutions to make your products away your customers wantsA.Developing and launching products process 1.Developing product processStep 1: Identify looking for ideasStep 2: Choosing ideasStep 3: Checking and developing ideasStep 4: Marketing Strategy Step 5: Analysis ability to production and consumptionStep 6: Product designStep 7: Testing product on the marketStep 8: Product Commercialization2.Launching the product to the market stageB. some solutions to make your products away your customers wants
Topic: stages in developing and launching the products and suggest some solutions to make your products away your customer's wants A. Developing and launching products process 1. Developing product process Step 1: Identify / looking for ideas New product ideas have to come from somewhere. The ideas can appear in internal business as from managers and employees, specially salesman. Some other important ideas are found out from competitors, customers, distributors and suppliers or market research. Small businesses should actively exploit internal ideas because they are easy to impact, and company can save cost and time. Besides, these ideas are more feasible and realistic. Step 2: Choosing ideas Not all new ideas proposed can convert into products, so businesses need to choose possible ideas. Basically, the chosen idea is compatible with business resources. The bold ideas will require more time and effort to research and fulfill. Good idea will support for the business plan such as the target customers, satisfy with new demands, exploit distribution channels more efficiently, reduce unnecessary costs, or take advantage of the available resources without losing money. Step 3: Checking and developing ideas After choosing the best ideas, businesses can establish a group. This group should have many members to get more evaluate and criticisms for the idea. They think and analyze ideas from variable aspects, marketing, human resources, capital, time, and the react of stakeholders. Through this analysis and evaluate process, the idea will be considered in many aspects. The most important thing is to make the idea clearly, specifically and limit unnecessary tests or avoid mistakes. Thus, after this step, the idea will be full of factors as its main feature, method of design, value and identify the role, significance and target when developing this product. Step 4: Marketing Strategy The marketing strategy involves evaluation of market size, product demand, growth potential, profit estimate in first few years. To increase the success of new products on the market, businesses should make marketing plan. The analysis main factors affect the business environment, the ability of business in term of personnel, finance, facilities and equipment. At the same time, this draft plan need to be forecasted revenue, profit and market shared during the short- term and long-term. We should develop marketing plan for two reasons: Firstly, to avoid developing new products at the less potential market or limiting to waste time. Secondly, to develop oriented design, style, features, or essential characteristics of the product according to the customer's requirements. Step 5: Analysis ability to production and consumption Businesses evaluated on profit targets, the benefits of the product offers. Besides, it evaluates more detailed about object customers of the product, forecasting market and the impact of this new product with the existence products. However, accurate evaluation market is difficult. Small businesses must adjust continuously, test to draw experience. Step 6: Product design Marketers interested in: • Technical parameters product. • Shape, color and cost product. • Product packaging . They interested in 3 main functions: protection, communication, aesthetic. • non-physical factors associated with the product and packaging: product name, product labels, product logos, trademarks. Step 7: Testing product on the market Testing product means selling the product within a specific area. To be more careful, business can test the market in small market areas. It evaluates factors which relate to marketing functions, including price, distribution channels, market, advertising messages and product positions. Marketing mix strategy can be monitored and if needed modified before national launch. Step 8: Product Commercialization If the test marketing stage has been successful, the product will be launched national. Commercialization is the introduction products on the market. Business will have to determine market deployment, how to deploy and the relevant operational departments such as sales, advertising, accounting, customer caring, or delivery. In summary, the development new product is not an independent work; it involves the strategy, policy, infrastructure, resources business. Development new products must be adhered and supported consistency with the entire operation of the business. It’s is necessary to consider and evaluate the ideas and products in many ways, in which the needs of the market should be respected. If creativity and innovation are lack of methods or have no exact purpose, it will only cause damage. To be successful in developing new products, business need to stimulate creative capacity of human resources, improve the sensitivity and the ability to seize opportunities business, as a key factor for the successfully launched a new product, especially the role-oriented and promote leadership. 2. Launching the product to the market stage Step 1: Study your competition. You have to start by taking a serious look at your competitors. Make a list of the businesses that offer products or services similar to the one you plan to launch. Even if you think your new product or service is entirely unique and without existing competition, it's important to put yourself in your prospective customers' shoes and imagine what they might buy in lieu of what you plan to offer. Once you decide whom your competitors will be, review their marketing materials, including their ads, brochures and websites. Evaluate how your new product or service will stand up against what's already being offered, in what ways you'll excel, and which companies or their offerings pose the greatest threats to your success. Step 2 : Target the ideal customer. To successfully launch your new product or service with minimum financial outlay, it's essential to focus exclusively on the prospects you believe are most likely to purchase from you. These may be customers who are currently buying something similar and will appreciate the additional features your new product or service provides. Your best prospects have a perceived need for what you offer, can afford to buy it and have demonstrated a willingness to do so probably by purchasing from your competition. Bear in mind, it's always easier to fill a need than to create one. Step 3: Define your marketing strategy and tactics. Next, choose your sales and marketing channels. Will you market online, via catalog or through dealers? Generally, multichannel marketers achieve the greatest success because customers who can shop when and however they like tend to spend more and shop more often. Suppose your strategy is to market a low-cost workout device to people who can't afford gym memberships or high-priced home equipment. You might choose traditional direct marketing plus online sales as your primary channels, and employ tactics including direct-response TV spots and online ads and e-mail solicitations that link to your website. Step 4: Roll out your campaign. Public relation often plays a vital role in the launch of a product or service. You can use media relations tactics to place articles and win interviews, get coverage by allowing key press to review your product, hold a launch event, or use grass-roots marketing to build buzz. But no matter what publicity route you choose, first make sure your product or service is completely ready and available for purchase in order to maximize returns from the coverage you receive. And your other marketing efforts should follow closely on the heels of your press roll out. Monitor the results from all media, and in the first weeks and months, be prepared to adjust your campaign to take advantage of what's working best. B. some solutions to make your products away your customer's wants Customers always want to use all kinds of products with high quality, reputable business products. Firstly, high quality is not the highest product price, it is the most suitable product to the customers. We always continually improve its products to meeting the needs of consumers. In the same product, we can make a range of product features. Every feature of product meets the different needs. We also create new products to meet the increasing demand of customers. We also have pricing and distribution policy consistent. Secondly, in the economy, if the only quality of products sold customers to satisfy the needs, it is not enough. We often sell the benefits of products and services, not sell its inherent characteristics. Starting from the help of your employees has an interest and the best care about our customers. 1. Guide training employees how to answer the phone with a smile on your face. The experts confirmed that sensitive customers can "hear" a smile of employees through their voice. 2. Please hire employees who are enthusiasm. 3. Require employees to speak clearly and slowly enough to capture customer information, especially when they phone. Nothing makes a heel customer go away faster than staff's impatience, voice and face sullen and indifferent attitude. 4. Make sure that your employees have knowledge of the products and services your company offers. As such, they can provide satisfactory answers to customer questions. 5. Always create conditions for the staff satisfies a maximum of customer needs. Ensure that employees waitress sure that they offer the right alternative solutions to fit customer satisfaction. So, customers care, friendly services and high quality goods will be decisive factors to your success in business. These things will help you raise consume of customers. Above all, the better the services are, the more benefit you will get. . away your customer's wants A. Developing and launching products process 1. Developing product process Step 1: Identify / looking for ideas New product ideas have to come from somewhere. The. reduce unnecessary costs, or take advantage of the available resources without losing money. Step 3: Checking and developing ideas After choosing the best ideas, businesses can establish a group Technical parameters product. • Shape, color and cost product. • Product packaging . They interested in 3 main functions: protection, communication, aesthetic. • non-physical factors associated with