Launching a new product or service? 5 necessary questions to ask.
The launch of a new product - or marketing an existing product - is often the end-result of intensive research, planning, and strategising. While this may not be a problem for large organisations with dedicated marketing teams and generous budgets, it can be quite the challenge for the cash-strapped, overworked small business owner to get the right balance.
But by asking 5 simple questions about your product, you can have the foundation of a product launch strategy within minutes.
- Is your product tangible or digital/intangible?
- Does your product have search or material characteristics?
- In which stage of the Product Life Cycle (PLC) is your product?
- Is your product durable or non-durable?
- Is your product perceived as a convenience, shopping, or speciality product?
Try it for yourself. For a quick marketing strategy based on your unique product, try the 1-minute strategy development tool.
