Launching a new product on the market is a complex process
No matter what stage of development your company is at today, whether it is firmly in a leadership position or just trying to enter a new market, you cannot stop at this point and be satisfied with the results of previous achievements. In order for a brand to thrive and consistently make a profit, it must constantly improve, take on the challenges of the market and meet the growing consumer demand. So there is a need to modernize production, create new products and organize the launch of a new product on the market.
In this time-consuming process, you have to rely only on expert knowledge and marketing experience, and in-depth knowledge of the current situation on the market. With the slightest miscalculation in the preparatory work, the result will be economically negative. That's why such a responsible and challenging task for any company - bringing a new product to market - should be trusted to professionals.
HEA Solutions FZE specialists have many years of experience in preparation and launch of new products on the market. We have a comprehensive approach to this process and use the most modern and efficient methods, which ensure a successful result and high profitability.
What this service is
Plan of action marketers to develop a strategy will directly depend on the goals pursued by the client, and baseline data on the position of the company and its current marketing performance.
As a rule, there are two options:
In the first case, the client comes with a ready-made new product development and its positioning strategy. The task of specialists here is to assess the viability of the new product and its chances for success. The range of work includes an analysis of the market and the prospective niche, the ratio of supply and demand for similar products, and monitoring of user sentiment.
After a positive conclusion, our marketing team develops and presents to the client a plan for the step-by-step launch of the product into the mass market. It is possible that after the analysis stage the novelty will need to be adjusted to make its release more economically justified and profitable.In the second scenario, the customer understands the need for further development of the company and only has the intention to expand the product line with new products. In this case, our marketing and promotion specialists undertake a range of work to create a new product, from working on the ideological concept, its key characteristics to the justification of the competitive advantages.
As a result, we provide the client with a package of new product concepts, of which the most successful one is implemented. Then our team prepares a step-by-step strategy for launching the product on the market.
The main stages of launching a new product
- Preparation and analytics. We conduct market research and monitor consumer sentiment.
- Definition of a niche. We define the most prospective market niches and characterize the target audience in maximum detail.
- Development of the concept of a new product. Carry out SWOT-analysis; check compliance of features and characteristics of the new product with the expectations of target consumers. We argue the price component and the product's place among similar products.
- Release of test samples. The production of a test sample of the product is an important stage in the preparatory work. The finished product can be evaluated for visual, tactile and other physical characteristics, test the novelty among focus groups and collect feedback. If absolutely necessary, product features that received an unsatisfactory evaluation should be changed.
- Sales Forecasting. Based on "desk" research, we make a sales plan and brief potential buyers. We start a test sale.
- Development of a marketing plan. We draw up an advertising budget, approve the concept of positioning and media promotion plan.
- A final comprehensive test of the product. We once again evaluate all characteristics of the product: from its form and packaging to organoleptic characteristics and price.
- The product launch itself. At this stage you start serial production of the product, the novelty becomes available to consumers on the free market.
Work with us
HEA Solutions FZE specialists are experienced marketers with all the necessary qualities, possessing the knowledge and skills that guarantee the successful launch of our clients' new products on the market. We are ready to provide you with a portfolio of implemented projects and the real economic results of their implementation.
The result of our cooperation will be a successful launch of your new product on the market with a well thought-out promotion strategy and minimal financial risks for your company.