Market placing phase strategy: Difference between revisions
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Stage of the [[product]] placing on the [[market]] is characterized by high expenditure on [[Research and development definition|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. | |||
==Risks related to placing the product on the market== | |||
Introducing a new product to the market can be a risky venture, as there are several potential challenges that a [[company]] may face. Some of the main risks include: | |||
* Development costs: Developing a new product can be expensive, and if the product is not successful, the costs may not be recouped. | |||
* Market acceptance: There is always a risk that the new product will not be well received by the market. This could be due to a lack of [[consumer]] [[interest]], a [[lack of understanding]] of the product's features or benefits, or strong [[competition]] from existing products. | |||
* [[Production]] and supply chain risks: There may be production and supply chain risks that can prevent the product from reaching the market on time or within budget. | |||
* Intellectual Property risks: There may be legal risks associated with the product, such as infringement of patents, trademarks, or copyrights. | |||
* Distribution and [[logistics]] risks: There may be risks associated with getting the product to market, such as logistical and distribution challenges, which can make it difficult to reach target customers. | |||
* Regulatory risks: There may be regulatory risks associated with the product, such as compliance with safety, health and [[environmental]] regulations. | |||
* Financial Risks: The company may be exposed to financial risks, such as the possibility of not recovering the [[investment]] made in the product. | |||
* Reputation risks: The company may also suffer from negative public perception if the product does not meet [[customer]] expectations or if it has negative effects on the [[environment]] or society. | |||
Overall, launching a new product can be a complex and risky endeavor, and companies [[need]] to carefully assess the potential risks and benefits before making the decision to bring a new product to market. | |||
==Getting the most from this phase== | ==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. | 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== | ==Proposed actions== | ||
| Line 23: | Line 21: | ||
* vigorously push for [[market]] growth, maintain position | * vigorously push for [[market]] growth, maintain position | ||
* invest slightly faster than [[market]] growth | * invest slightly faster than [[market]] growth | ||
===Strong competitive position=== | ===Strong competitive position=== | ||
* try to improve [[market]] position, vigorously increase [[market]] share | * try to improve [[market]] position, vigorously increase [[market]] share | ||
* invest in a [[market]] rate of growth | * invest in a [[market]] rate of growth | ||
===Average competitive position=== | ===Average competitive position=== | ||
* selectively or vigorously increase [[market]] share, selectively improve [[market]] position | * selectively or vigorously increase [[market]] share, selectively improve [[market]] position | ||
* invest selectively | * invest selectively | ||
===Favourable competitive position=== | ===Favourable competitive position=== | ||
* selectively improve [[market]] position | * selectively improve [[market]] position | ||
* invest very selectively | * invest very selectively | ||
===Weak competitive position=== | ===Weak competitive position=== | ||
* development or withdrawal | * development or withdrawal | ||
* [[disinvestment]] or disposal | * [[disinvestment]] or disposal | ||
{{infobox5|list1={{i5link|a=[[Competitive risk]]}} — {{i5link|a=[[Introducing new products]]}} — {{i5link|a=[[Negative demand]]}} — {{i5link|a=[[Brand value chain]]}} — {{i5link|a=[[Marketing]]}} — {{i5link|a=[[Market development]]}} — {{i5link|a=[[Aggressiveness strategy]]}} — {{i5link|a=[[Brand leader]]}} — {{i5link|a=[[Image of the company]]}} }} | |||
==References== | ==References== | ||
* Bång, A., & Roos, C. (2014). [http://www.diva-portal.org/smash/record.jsf?pid=diva2:726192 Digital Marketing Strategy]. | * Bång, A., & Roos, C. (2014). [http://www.diva-portal.org/smash/record.jsf?pid=diva2:726192 Digital Marketing Strategy]. | ||
[[Category:Marketing strategies]] | [[Category:Marketing strategies]] | ||
[[pl:Strategia fazy wprowadzania]] | [[pl:Strategia fazy wprowadzania]] | ||
Latest revision as of 01:31, 18 November 2023
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.
Introducing a new product to the market can be a risky venture, as there are several potential challenges that a company may face. Some of the main risks include:
- Development costs: Developing a new product can be expensive, and if the product is not successful, the costs may not be recouped.
- Market acceptance: There is always a risk that the new product will not be well received by the market. This could be due to a lack of consumer interest, a lack of understanding of the product's features or benefits, or strong competition from existing products.
- Production and supply chain risks: There may be production and supply chain risks that can prevent the product from reaching the market on time or within budget.
- Intellectual Property risks: There may be legal risks associated with the product, such as infringement of patents, trademarks, or copyrights.
- Distribution and logistics risks: There may be risks associated with getting the product to market, such as logistical and distribution challenges, which can make it difficult to reach target customers.
- Regulatory risks: There may be regulatory risks associated with the product, such as compliance with safety, health and environmental regulations.
- Financial Risks: The company may be exposed to financial risks, such as the possibility of not recovering the investment made in the product.
- Reputation risks: The company may also suffer from negative public perception if the product does not meet customer expectations or if it has negative effects on the environment or society.
Overall, launching a new product can be a complex and risky endeavor, and companies need to carefully assess the potential risks and benefits before making the decision to bring a new product to market.
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
Strong competitive position
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
| Market placing phase strategy — recommended articles |
| Competitive risk — Introducing new products — Negative demand — Brand value chain — Marketing — Market development — Aggressiveness strategy — Brand leader — Image of the company |
References
- Bång, A., & Roos, C. (2014). Digital Marketing Strategy.
