New Market Entry Strategy

New Product Strategy

Will your new product launch and market entry strategy deliver the sales you need to make your new product a winner? New products are a key to remaining a force in the marketplace. Innovative technologies and first-rate ideas don’t automatically become great new products. Most new products fail. New products have to meet three criteria to win the sale:

1. The product must have highly sought after benefits and enough potential customers to make the offering economically viable
2. A substantial number of perspective customers must be ready and able to purchase and use the product to justify market launch
3. The new product must offer the customer greater value than alternative offerings

Using qualitative research, QDI’s consultants build a new product launch knowledge base designed to answer the following questions:

• Is there a market for this product?
• How big will it be?
• How fast will it grow?
• Who are the target customers?
• How will I reach them?
• Will my product win - and what must I change to have a winner?

Whether you’re in the initial planning stage or assessing your first year’s performance, QDI can help you develop a successful new product marketing strategy designed to ramp up new product sales quickly.

New Market Entry Strategy

New market entry poses a more complex, high stakes set of challenges. Businesses must target a new set of customers, deal with new competitors and new channels. Frequently a company will hit an economic or psychological road block because its market entry strategy is off target... negatively impacting the company’s ability to build sales momentum.

The sooner the sales force learns to sell into a new market, the more the company will save valuable marketing dollars. Making changes to the overall value proposition late in the game requires investment levels that may leave no option but to abandon the market. Learning the risks beforehand can save hundreds of thousands if not millions of dollars and put the company in a better position to meet its business objectives.

We define a new market entry problem as any marketing scenario where the buyer types and / or buyer organizations are new. From our experience, unfocused segmentation, inadequate value proposition and channel strategy are common roadblocks impeding a company’s ability to successfully enter new markets. Costly mistakes can be avoided with better, up-front, fact-based new market entry strategy planning.