Introducing New Products

Why do so many new products fail? Usually for many reasons. Companies often are so enamored of their new product ideas that they fail to do their research, or they ignore what the research tells them. Sometimes the pricing or the distribution channels are wrong. Sometimes the advertising doesn't communicate. Successful product launches result from an integrated process that relies heavily on research and solving up-front issues. Let's review some of these critical issues that affect product introduction.

Market Research - Market is key. Without necessary information, you're simply flying blind in a storm, headed for a crash landing without a para-shoot.

Timing - Can dictate your products success, without asking the right questions to research the correct answers, you are looking at a downward spiral in the production and launch of your product.

Capacity - If the product or service is successful, do you have the personnel and manufacturing capacity to cope with the success?

Training - Your sales organization, inside employees, and distribution channels will need to be trained about the product.

Promotion - Finally, you need the promotional program to support, introduction, forms of advertising, trade shows, promotional literature, samples, incentives, Web site, seminars, and public relations.

For time sake, we only indicated the bare necessities an entrepreneur will need to be successful and to expand their business further. Please visit WWW.LRCONSULTINGENT.COM and contact one of our consultants TODAY!!