MARKETING

             Promotion for the Customer: Because the company is launching a new product
             in the market, the first role of the advertisement is to make customers
             aware of the product. Therefore, the company will need to make the use of
             the television advertisements and print media. Both of these advertising
             avenues are critical to make customers aware of the opportunities of
             finding new products in the marketplace. In general, TV advertisement
             offers the availability of a new product; and print advertisement provides
             more details about the specification and use of the product (Garfield,
             Once customers become aware of the product, the company can also
             advertise its product via the Internet. Because in today's market, the
             Internet has become a cheap alternative of product advertisement,
             therefore, in the later stage the company should make use of the Internet.
             Promotion for the distribution Channel Member: If the product is new, the
             company will need to make use of brochures and catalogs to show how new
             product is superior to the existing products. The catalogs and brochures
             should also show the functionality and uses of new product through pictures
             (Goodlad, Eadie, Kinnin, and Raymond, 1997). In addition, the company
             needs to make the use of special packaging to describe the advantages of
             new products over the existing products.
             Promotion for the Retailer: If the product is new, the company's main aim
             is to make sure that the sales of the product grow overtime. Therefore, in
             the initial state of the launching of the product, the company should make
             the use of the special discounts and coupons so that customers buy the
             products from the retailers (Mobley, Bearden, and Teel, 1988). The company
             will also like the retailer to prominently display new product at two or
             three aisles in the shopping center (Grimshaw, 2003).
             If the product is in declining state, the company's best bet w...

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MARKETING. (1969, December 31). In MegaEssays.com. Retrieved 10:52, May 08, 2024, from https://www.megaessays.com/viewpaper/201178.html