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Chapter: Business Science - Enterpreneurship Development - Launching of Small Business

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Product Launching - Launching of Small Business

Launching a new product attracts consumers as well as corporate buyers, and informs the public about your product and business. Your product launch needs to be exciting and informative. Here are a few suggestions on how to launch a new product.

Product Launching

 

Launching a new product attracts consumers as well as corporate buyers, and informs the public about your product and business. Your product launch needs to be exciting and informative. Here are a few suggestions on how to launch a new product.

 

1. Design attractive packaging.

 

Create packaging that is colorful and pleasing to the consumer's eye. Smart packaging is the first step to getting your new product noticed. Include your company name, product name and any main selling points you want to convey on the outside of the packaging.

 

2. Determine your target audience.

 

Decide what demographic will benefit most from your product. This is the target audience that should receive the most attention when you market a new product. Consumers of this age, gender and social and economic background will be most receptive to the new idea and will, most likely, buy your product.

 

3.Implement a unique slogan.

 

Prepare for your product launch by creating a catchy and unique slogan that will be used to identify it. The slogan should consist of simple language and could rhyme or contain words beginning with the same letter to make it more memorable.

 

4. Know your competition.

 

Research products similar to the one you're planning to launch that are already well-known by consumers. Use this information to direct the attention of your launch at ways that your product is different and better than the competition.

 

5.Consult a public relations firm.

Work with a public relations agent with experience in your industry or in marketing new products. An expert can help you solidify your target audience, determine the best forms of media advertising and plan promotions.

 

6.Write a product sheet.

 

Create a list of product features and details. This should explain the product to consumers while still making it attractive. Include general usage, product components or ingredients and any relevant safety warnings or liability information.

 

7.Launch a website.

 

Design a website advertising your new product and offering more information for consumers. Include user testimonials, product comparisons and ordering information or promotional offers to entice buyers.

 

8.Purchase advertising.

 

Place ads in several media outlets to reach the maximum number of consumers. Websites work well for posting ads and linking to the product's website. Buy ad space in local newspapers or trade publications to increase the awareness of your new product.

 

9.Hold a press conference.

 

Schedule a press conference with consumers and members of industries related to your product or service. This will allow you explain the product, offer samples, answer questions and create a buzz in the industry.

 

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