Bringing a new product to market is exciting, but definitely comes with its stress. It takes a great deal of planning and work to ensure that every possible angle is dealt with. A successful product launch requires six fundamental steps that BioMedWire (BMW) can help you execute:
- Study the competition. BMW will perform an SWOT (strengths, weaknesses, opportunities and threats) analysis that takes a look at the competition and their marketing materials, experience and value proposition so we can better identify your individuality.
- Identify your ideal customers. Who will be buying your new product? Are these customers currently buying similar products? We study the target market inside and out so we can speak the consumer’s language in each advertising campaign.
- Create a unique value proposition. Your products and services should stand apart from the competition. There are numerous ways to frame your benefits and features so that your product isn’t lost in a sea of similar items.
- Develop a marketing strategy. With so many sales and marketing channels to choose from, this important step should help you decide whether to market your product online, through dealers, through social media or any number of avenues.
- Testing your product. Some products can benefit through focus groups, while others will best benefit from online research or studies. Depending upon your marketing plan and budget, we can perform testing that helps you determine any number of things, including price point, target market, efficiency, and more.
- Rolling out your campaign. BMW understands how to create the right buzz for any product launch. We can set up a spectacular launch event with press coverage and other publicity. Those first few weeks and months are crucial to your success and we stay on top of social media, investor relations and marketing efforts. Our goal is to fully explore every viable means of marketing while building on the momentum of the initial launch.
BMW understands how to apply the keys of a successful launch to any business. We work with any budget using innovative technology to gain market exposure and customer loyalty. Contact us to find out how to make your product launch a successful one.