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How To Launch A New Product

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Introduction

How To Launch A New Product Product Sales By Mohammed Ali 11L2 Contents Page INTRODUCTION P.2 QUESTIONNAIRE 1 P.3 RESULTS FOR QUESTIONNAIRE 1 P.3 GRAPHS FOR QUESTIONNAIRE 1 P.4 QUESTIONNAIRE 2 P.5 RESULTS FOR QUESTIONNAIRE 2 P.6 GRAPHS FOR QUESTIONNAIRE 2 P.6 ANALYSIS P.7 MARKETING MIX P.8 CONCLUSION P. Introduction My task is to find out about the steps it takes to launch a new product. In order for me to complete this task, I am going to use an idea of my own to launch as a new product. This will enable me to find out exactly how to launch a new product. The idea I chose to launch, as a new product is a web designing software. I will carry out market research in order to reduce the risk of failure. This I done by finding out what the customers needs and wants are. There are two types of research I can conduct to gain the information that is required to me, primary research and secondary research. Primary research is to carry out surveys, questionnaires, and etc. by yourself or through a market researching company to get the information necessary. Secondary research is obtaining information that is already available due to previous research. I am going to use both, primary and secondary research methods to get the information that I need. ...read more.

Middle

These help me decide on price, product, promotion and place for my product to be launched. I asked whether my product to be launched would satisfy their 'want' for this product. I asked, in the questionnaire, where they last saw an advert for a similar product to mine to help me decide on promotion methods. I also asked, where they would go to purchase my product to help me decide on place. I asked about how much they would expect it to cost to give me an idea on price. These are the results from my questionnaire. ___________________________________________________________ Questionnaire 2 > Specific product/consumer related features 1. Would a web designing Yes No software satisfy your 'want' for this type of product? 2. Where did you last see Newspapers T.V an advert to a similar product? Poster Bus 3. Where would you go to Computer Specialist Shops Purchase this product? Newsagents �Store 4. How much would you �5-10 �10-15 expect it to cost? �15-20 �20-25 ________________________________________________________ Results Table For Questionnaire 2 Question Answer 1 Answer 2 Answer 3 Answer 4 1 10 0 - - 2 9 1 0 0 3 10 0 0 - 4 7 2 1 0 Graphs For Questionnaire 2 Analysis The results from my questionnaires can be analysed to state what the results show. As you can clearly see from my results from questionnaire 1, my typical customer is a male, 16 to 25 years old who earns around �10,000 to �30,000 a year. ...read more.

Conclusion

At the same time, I am keeping to the specification set by questionnaire 2 (see analysis) and making a profit a t the same time. With my product, customers can add some life into their existing/new web page. There are many different link button styles to choose from, such as a revolving star when the curser is on top of the button. It will be much easier to make flash texts. Images can be uploaded onto the page straight from the Internet, the hard drive, or floppy/CD instantly. Live videos from the users own web cam can be broadcasted over the Internet via the web site. There are also many more features that are added to the Webcraft software. All of these features help make it easy for the customer to use and appreciate the products properties. I had to also make my product more superior than other similar products, such as Dreamweaver. This is because my customers must think that Webcraft is a high-quality product and a more advance software than the other competitors so my sales would be boosted. I needed to conduct research to find out what customers wanted. This is because if I had just made a product and tried to sell it, the risk of failure would have increased by an immense proportion. Due to the product being still at the launch stage, I need to promote it to make customers aware of the new product, this is also linked to 'promotion'. ...read more.

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