Market placing phase strategy

Market placing phase strategy
See also
Growth phase strategy Market maturity Innovation process Market expansion Maturity phase strategy Market follower Low cost strategy Product development strategy Horizontal diversification strategy

Stage of the product placing on the market is characterized by high expenditure on research and development and to promote a new product. In this phase, the risk of failure is very high, due to the possible actions of competitors.

Getting the most from this phase

To maximize sales in the market placing phase, companies should focus on creating a strong marketing and advertising campaign to increase awareness and interest in the product. Additionally, companies should focus on building relationships with key influencers and partners in the industry to increase visibility and credibility for the product. It's also important to conduct market research and gather feedback from potential customers to ensure the product meets their needs and address any issues before launch. In addition, companies can also consider to offer discounts or promotions to early adopters to generate buzz and word-of-mouth marketing.

Proposed actions

The dominant competitive position

• vigorously push for market growth, maintain position
• invest slightly faster than market growth

Strong competitive position

• try to improve market position, vigorously increase market share
• invest in a market rate of growth

Average competitive position

• selectively or vigorously increase market share, selectively improve market position
• invest selectively

Favourable competitive position

• selectively improve market position
• invest very selectively

Weak competitive position

• development or withdrawal
• disinvestment or disposal

References

• Bång, A., & Roos, C. (2014). Digital Marketing Strategy.