|
Topics:
|
|
|---|---|
Words: |
796 |
Pages:
|
2
This essay sample was donated by a student to help the academic community. Papers provided by EduBirdie writers usually outdo students' samples.
|
Cite this essay
Download
Introducing new items is a typical strategy for many organizations to maintain core capability and market share, but those organizations face a problem that can be very expensive and risky. A product is whatever that can be offered to a market for consideration, use or utilization that may satisfy a need or want. The main objective of marketing is to fulfill customer needs and need at a profit.
The reasons for a company to introduce new items can be:
After the organization has carefully fragmented the market, chosen target clients, different kinds of needs, advertising positioning, bringing new items is better arranged to launch new items. Each firm should create and launch new items, since they may impact the fate of the company. Clients want new items and the competitors will do anything to give them.
Key objectives of this paper is to convey a structure regarding to the new item launch.
The first thing to know is the customer needs based on the past product processes and then developing new items that address those needs. It is basic practice to acquire knowledge based on buyers’ attitudes towards the new item and their buying intention. Gathering knowledge from marketing tells the buyer intention to launch of new product. While marketing, three issues that have been well examined and are good for future:
Till now, we were looking for the buyer needs and wants, now we will see from the organization’ view of point for the launching of new products. There can be different factors influencing the ability of the company.
It has been seen that the main element that drive an organization is resources. Communication is the basic requirement for sharing and gathering the data related to marketing, environment which helps with new ideas for the new product within a firm.
Organization must gather data and opportunities through innovation so that they can use launch of new items as a protective shield to defend themselves from uncertainty. A competitive market will always make you seek new ideas, look for better way to compete and understanding the survival method that can be a launch of new products in the market.
The innovation level is influenced by the demographics. But as the company grew old, they get addicted to keep the same method of doing the work and don’t welcome any new changes, but this same thing can be seen in new firms also because it can impact the resources.
The structure can be seen as the footsteps which is kind of mandatory for the innovation process to be complete. There should be complexity in the firm to see the change which is required, promotes new ideas and group discussion among the employees.
Introducing new items in the market by the firms is very common tact to keep a good share in the market and also give a competitive advantage over the others. The three factors which are buyer innovativeness, development of new products, network externalities should be checked and identified to make a better future of the firm. The firm should make some really important decisions regarding the launch of new products which bring the factors that promote the firm’s capability in introducing the product those are resources, environment, demographics and structure. To conclude, the new product launch consist of various things which can be decisions, strategy, actions which highlight the context of launching of new products and the operational approach.
Get your paper done in as fast as 3 hours, 24/7.
Fair Use Policy
EduBirdie considers academic integrity to be the essential part of the learning process and does not support any violation of the academic standards. Should you have any questions regarding our Fair Use Policy or become aware of any violations, please do not hesitate to contact us via support@edubirdie.com.
Stuck on your essay?
