|Ðð©'§ Internet Marketing Information Library|
Seven Reasons Why New Products Fail
The most optimistic success rate I have run across for new product ideas is about 3%. In other words, 97% of product ideas never successfully enter the market. There are lots of reasons for this low level of performance, but there is a consistency around a few common mistakes that routinely present themselves with inventors and new product marketers. These are not the only reasons, but if you can avoid these mistakes, you can greatly improve your chances for success.
The Product: The single biggest shortcoming in new product introductions is not fully understanding the product, its usage and the target market. A dead give away to this problem is when I ask inventors to define the target market and they tell me, "Everybody." If your target market is everybody, you are doomed to failure. It is like shooting a gun at a bull's eye. You will most likely never hit the bull's eye if you are aiming at the whole target.
The Opportunity: One of the most difficult questions to answer in preparing a new product for market is defining the opportunity. Sadly, there is not enough information available about most product categories and if you have something that is entirely new, there are no reference points, but this is critical information for the decision- makers you will be dealing with. You must have some verifiable estimate for the potential of this product.
The Channels: With most products, there are going to be intermediate steps between you and the end user of your product. What Channel or Channels will you choose? What are their expectations? Can you provide what they require? What do they require? Are there any trends that could affect your successful launch?
Your Circumstances: There are usually three factors that each inventor / marketer must understand about themselves before they go to market. Do you know what those 3 factors are and what options are available to best match your circumstances?
Research: Many people think they are marketing their new product idea or invention. The truth is you are also marketing actionable information and knowledge, but where do you go to get that information and knowledge? Once you do get it, how do you put it together?
The Fuzzy Front End: The people you are trying to sell your new product or invention to have a perspective that is different than yours. Do you understand their perspective and can you provide answers to their questions both asked and unasked?
Your Offering: Successful new product introductions require more than just the product. If we all just bought products, we would all be driving the same make and model of automobile. People don't just buy products, they buy features and benefits and image and status. How are you going to package your product for success?
These are examples of just a few of the issues that we talk about at our new website http://www.marketingnewproduct.com. We have even developed a collaborative consulting product call the Quickie Market Analysis to help inventors, and new product marketers avoid these pitfalls.
It doesn't really matter where you are in the process of introducing your product. The Quickie Market Analysis will pick you up where you stumbled and move you toward success. Visit the U.S. Hardware /Hardlines Resource Center to learn more.
Copyright Bob Cannon/the Cannon Advantage, 2005. All rights reserved.
Bob Cannon helps inventors, imagineers, importers and manufacturers successfully introduce new products to the Hardware / Hardlines Marketplace. Check out his blog at http: http://www.takingaim.blogspot.com Bob can be reached at (216) 408-9495 or mailto: email@example.com
This article courtesy of http://www.marketingnewproduct.com You may freely reprint this article on your website or in your newsletter provided this courtesy notice and the author name and URL remain intact.
Getting Your Business Listed for Local Search is Just the First Step
The Public has Embraced Local Search and Want to do More
Successful Internet Marketing Without A Budget
The following excerpts were taken from an interview held with successful web marketer Darren Cronian in June 2005.
Website Advertising: How to Seduce Your Website Visitors And Make Them To Buy From You
Website advertising is an art and you must understand its dynamics before it will work for you.
Scared Of Creating Your Own Info Product?
Don't be scare off when you hear about product creation or the term 'product'. Basically a product can be almost anything you put together that pass on quality information, and contrary to what you may think, it can be created very easily once you know how.
Implementing an SMS Marketing Campaign
SMS Marketing can be used to acquire customers, strengthen existing customer and prospect relationships and provide a service to your customers.
Writing An Effective, Profit Producing Ad
One of the biggest challenges for most Internet Marketers is writing effective ad copy. This is hardly surprising. Most marketers are not professional writers and writing ad copy is a difficult skill for beginning marketers to master. Here are some tips that might assist you in writing an effective, profit-producind ad.
Website Marketing: 10 Smart Ways To Profit In An Uncertain Economy
When the economy is booming, you may do well in your internet business.
Educate Yourself to Succeed in Internet Marketing
More and more people are considering the World Wide Web as a great opportunity to offer their products and services to a new, bigger market or even as a chance to create entirely new businesses online.
An Approach to Advertising on the Internet
Budweiser has the frogs. McDonalds has Ronald. Goodyear has the baby. Each of these companies has used different images as a means of advertising with traditional media. Television, radio, and print ads have been extremely successful in helping companies develop a successful brand image. With the World Wide Web, however, marketing departments struggle to incorporate traditional advertising into a high-tech medium like the Internet.
Online Sales: How To Use Customer Feedbacks To Generate More Sales
Communication is the engine that powers business.
The Niche Website Naming Secret
Today I was optimizing a couple new websites for search engines. I went through my list of optimization techniques. Keywords in page title? Check. Keywords in page headings? Check. Keywords in page file name? Check. Keywords in offsite link anchor text? How could I accomplish that?
Things I Learned from Corey Rudl
On Wednesday, the first day of June, I received the following email from Corey;
Internet Marketing Online: How To Help Yourself By Helping Others
If you want to go far in business, and be a roaring success, you must understand that your success depends on others.
The Power Of Viral Marketing
You certainly know by now that the term "viral marketing" is not just another dot-com cliché. Quite the contrary, it describes the incredible, unmatched power of the Web to promote your business by marrying email to the traditional concept of "word-of-mouth."
FFA Links and Free Classified Ads Dont Work
There are many ways to initiate traffic to your website, but unfortunately there are some that are just a waste of time. Two kinds of advertising many webmasters get caught up in when they first start to get their website rolling is Free For All (FFA) links, and free classified advertising.
Internet Marketing Help
If you're looking for Internet marketing help you've come to the right place. Below you will find several tips to help you navigate your way through the mystifying world of promoting your website and e-commerce business.
The Truth Behind Guaranteed Sign Ups
I've got a confession to make... I have been into guaranteed sign ups business for a long time but I realised many people do not know how sign ups really work.
6 Steps to Establish Your Expertise
Like the Internet itself, online marketing resources such as blogs, chat rooms, and user groups are vast and puzzling. On one hand they offer that elusive "promise land" of free and effective marketing. On the other, they embody a "time sink" of astronomical proportions. They have addictive qualities and their effectiveness is measured only by your own self-control.
Grab that Browser! The Captive Affiliate Marketing Model
Creating mini-sites that grab your browsers and prime them into buyers
Internet Marketing: Dr. Robert Anthony Reveals How To Use Quantum Physics To Supercharge Success
What secret dreams do you have for your Internet marketing business? Would you like to quickly expand your list to giant proportions? Would you love to have a list of thousands or even millions of people bringing in money every day as they buy the products you offer?
|Home | Site Map|
|Copyright © 2005-2007 - Ðð©'§ pcMedix Computer Group Help Sites. All Rights Reserved.|