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Marketing Your Innovation

Baskar Sundaram
Baskar Sundaram

Globalization and technological advancement have drastically affected the market. Most products have a short shelf life and consumers keep demanding more and more products. News products are constantly introduced into the market, but very few stick on for the long run. Therefore, innovation is key for the survival of any business.

Innovation can be made in different ways. Here are a few examples:

  • Innovation of an already existing product or service to make it better or cheaper to produce.
  • Innovations that provides additional value or support to existing products or services.
  • Innovations that are based on already existing products and services.
  • Innovations that are brand new and game changing. They introduce a new product and idea into the marketplace.

Given below are some tips to keep in mind when marketing an innovative product:

Provide Information About Your Product

A new product or innovation must be properly presented before the consumer. Instead of merely showing the product and the features, focus on educating your customers. For that you must gain the attention of the people.

With attractive and intriguing product presentation you can gain the attention of potential clients. Explain the main points of your product. Why is your product unique? What are the benefits? Focus on what the customer will gain from buying the product or service.

Start a blog or website and provide regular updates and information about the latest innovative product. Familiarise people with the product.

Study The Reaction Of The People

Feedback is critical when you are marketing a different product. Encourage customers to provide feedback, both positive and negative. Listen to their complaints. Improvement and change are a part of product development and marketing.

Exposure And Publicity

Whether it’s through social media, advertisement or even involving the press, exposure and publicity is needed when a new and different product is being introduced into the market.

Post positive reviews and feedback on websites and blogs. Make sure the quality of the product and its benefits are truly felt by the consumers.

Create A New Brand

If you have an already established brand, but you want to launch a drastically different product, you can do so by creating a new brand for a new line of products. This will give customers a different impression about your product and they will not associate your previous products to the new one.

Be Different

Make your marketing strategy different from your competitors’.  You can even form a partnership with other businesses to truly put your product out there.

 

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