Marketeer

Product is ready for market and I am winning my first paying customers


Your product is now ready for market. Have you looked at your 5 Ps?
  1. Product - Can you describe the benefit this brings to the client? Is the packaging ok?
  2. Price - What is your pricing strategy? How do you arrive at your market price? How does your pricing model fit with the market? Does your pricing model provide a pricing level that will enable you to grow and fund a business from sales revenue? Can you become more cost competitive if a lower cost substitute enters the market?
  3. Position - What market sector are you trying to address. The packaging, look and feel and pricing of your product will affect the market sector you are addressing and you can position your product to serve certain sectors of a market.
  4. Promotion - How will people become aware of your product? Which marketing channels are you going to use? Print, TV, radio, online, word of mouth?
  5. Placement - How will people physically get their hands on your products? Is the product suitable to retail outlets? Direct sales team or indirect sales team? Wholesalers or distributors? Web based distribution , mail order or call centre placement?

If you have answered the above and its working the product should be rolling out the door. But do not forget to look at how you will handle complaints, returns, maintenance and refunds, along with the all important nitty gritty, such as the actual logistics, billing, collections and paying your suppliers.

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If you are at this stage of your business and would like to engage an expert from the Innovation Centre to help you move your business to the next stage, click here to complete an enquiry form and one of our team will contact you.