Interesting question, I am planning to enter a new market with my service products and having the same process ongoing. With tangible product it depends how well it fits the demand and how it is distributed and advertised. Also the competition should be payed attention to, a new product should be somehow more advansed compared to the competitors. If it's a compleately new product, market study should be done carefully to avoid unpleasant surprises. And remember to be critical, try to step in your customers shoes.
I presume "succeed" in handing a detailed report about the product. As you know, all depends of the nature of the product and the country you want it to enter. All countries have different commercial laws, requirements, procedures to respect and it varies from product to product. So I would first contact the authorities of the concerned country to get full information about papers required to enter their market. Sometimes you don't need to go further since procedures are complicated, they cost and it's not worth it. In the other case, a market research and study is a MUST to find its competitors, prices etc. Then an analysis of the data collected must be done to check the feasibility of the product in that specific market. This is the most important and tough part of the job in order to succeed. Once a decision has been taken (either proceed or cancel), it would be wise to introduce the product through a fair, exhibition, seminar etc. in order to have a direct impact on potential customers. In this case, you'll have a feedback without risking the whole implementation. Sometimes, if you have connections in that country, you can create a survey and ask to circulate it around. Remember...not ALL products can succeed.
Before you enter the market you should have done1. Market survey2. product survey
After launching of the product you have to be very fast in processing the things like taking survey of the product and developing your product fast. One thing can make your product successful is Customer survey of the product and make the customer happy of developing to the possible extent. but while doing the surveys for your product you have to accept the facts and act along . Even after the product success you have to keep doing this to be in the market .
Product can be successful by the Quality , Price, after sales service .
by
deepak negi , Relationship manager, business coordinator, client servicing , Bma wealth creator
to enter in the market with new product we should 1- have complete knowledge of our product .2-then the market research.3 -4 ps (product ,price ,place, promotion) 4- and target audience (s.w.o.t analysis) 5- launching of the product
by
Kaamila Tahseen , Change Management Team Manager , cognizant technology solutions
Firstly you need to carry out basic SWOT & PESTLE analysis.
Identify needs to the market which you plan to enter, check if your product satisfies its needs.
Check out the strategies applying by the existing competitors (if any)
Identify some good visualistic ideas to promote your product.
I think the important things are: 1- Study the market need for the product. 2- study the competitors feedback. 3- compare our product (price and quality) with the competitors.
Trust in your product, reach to target market, customer awareness about the product and its quality and number of benefit from the product and most important service after the product is sold.
befour should be get ferist the rent and commetion from the company
have the right display in gandola and make a good desination and display and sampling tasting for costomar and have best prise
