Challenges in new products and services introduction.

[jay]

Okay, this is where target audience comes into play. I would like to know your opinion on this, I am a graphic designer, what set of persons or people should I focus on as my target audience?

What niche that you are creating your works of design for would be what determines the kind of persons that would be your customers or audiences to look out for.

 

[Thinker009]

I think new product are always faced with new competition and tackling this issue actually seems to be a problem for the new product, because the product would find it hard to grow higher than ever,when the competition is very high and could affect the product growth and development

 

[eLdavis]

What niche that you are creating your works of design for would be what determines the kind of persons that would be your customers or audiences to look out for.

Hmm, I don't really have a specific group, I am willing to make flyers for companies, churches and even small business setup. Like I have once done flyers for a dance class, I have made a logo for an order and delivery gig, I have done flyers for church programs.

 

[Toyoabasi]

One of the major challenges I faced with new product and services is that, I'm always afraid to even purchase a new product from producers. Also, I get the same perception when I advertise a new product, people are afraid to buy it from me because they already are used to their old product and they don't want any change in reaction. For instance, someone that uses a body cream, the person will find it very difficult to change the product to another body through no matter how you try to convince the person, it's always really challenging.

Many business people experience different challenges with marketing new products. They struggle with proving their products value; determining the price at which to sell products, etc.

 

[Sotherefore]

I think new product are always faced with new competition and tackling this issue actually seems to be a problem for the new product, because the product would find it hard to grow higher than ever,when the competition is very high and could affect the product growth and development

That is why it is always important that new companies that are producing new products should always focus on giving free products as sample for people to used, this will bring trust to a lot of people that have used the product if it is a good quality products... Without this is might really be difficult for people to start buying a product they have never seen before because they don't really know much about it.

 

[Heatman]

A new product launch is highly challenging, no doubt, a new product launch can make you nervous as the big dark cloud of challenges that can hurt your product launch surrounds you. Launching a new product is definitely challenging, and only two in ten new products manage to survive in the market for more than a year. Bellow are common new product launch challenges
1, Brand messaging and product positioning
2, Audience Targeting challenge
3, marketing the launch challenge
THere are no Fail-Safe solution that can guarantee a successful product launch, but with our little experiences, we will stand a better chance of making our products successful.

The competition and the market is one of the biggest challenges that new product and services faces because they will have a lot to deal with trying to convince old customers in the market to turn their attention to buy the new products.

 

[jay]

Many business people experience different challenges with marketing new products. They struggle with proving their products value; determining the price at which to sell products, etc.

It is always very difficult for a new product to make the first sell when it is being introduced in the market which is why you have to conduct an extensive and aggressive marketing in order for people to know about the product that you want to sell to them.

 

[Laurentta]

New products really face alot of challenges. Mos people are scared to try out new products.They don't want to spend their money on a product and not like it.

 

[Good-Person]

Recently, I came across a research study that revealed the 70% of startup businesses fails within the first 6 months of establishment. This isn’t a new thing and it’s a very normal phenomenon. The first attempt on getting introduced to a market isn’t always rosy. Failure is part of learning.

I think those 70 percent start ups fails because they never follow the correct method of marketing strategy and business plans that were required to make business successful. i think 6 months is too early for any kind of business to get closed down.

 

[Ghost1]

This is one of the greatest challenges ever, some new business crashes quite often. Some people try to bypass this by affiliating with a well known brand and selling under that name.

 

[Alexandoy]

New products really face alot of challenges. Mos people are scared to try out new products.They don't want to spend their money on a product and not like it.

That is true. We remain loyal to the household products that we buy since a long time ago. If you will introduce a new toothpaste or maybe a bath soap then that has to pass a rigid screening. It is not exactly testing the product but just trying to get along with the new product which is sometimes a sign of rejection already.

 

[Kaffyfolla]

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Financing and developing new products is expensive and risky. A new product development company has to make sure it will receive compensation in line with the risk it is assuming. Common models range from a low-risk one where an inventor pays the company a fee for the development, to one where the company arranges financing with its own resources or with outside investors and receives a share of the profits.

 

[Smiles20]

If you are just launching a business into the market then you are going to have a problem with market penetration. It is very important that you should get your social media and marketing campaigns are very correct if you want to get this.

 

[Godspower]

If you are just launching a business into the market then you are going to have a problem with market penetration. It is very important that you should get your social media and marketing campaigns are very correct if you want to get this.

Sometimes aggressive social media marketing might just be the key in making a businessman succeed in penetrating the market. It will also help the business to withstand competition from others.

 

[greenie]

The first challenge you face when developing new products is choosing a concept that has potential. A good idea is only a first step and often isn't viable because of cost, production difficulties or regulatory limitations. Your new product development company can only take on projects for which it can establish a reliable path through development, and your team has to learn to recognize such products.

 

[Sincerem]

Sometimes the reason why some business are not able to survive the next one year after operation could be as a result of improper planning and research and probably setting of the business in the wrong location. Branding Can only help differentiate your business from others but it's not a factor that makes business successfull.

 

[tyrim88]

Yes definitell,on the issue of new product,there are lots of challanges that one can face in the market,if the product does not really solve needs of the consumers or have better quality than the already existing one.

 

[greenie]

The first challenge you face when developing new products is choosing a concept that has potential. A good idea is only a first step and often isn't viable because of cost, production difficulties or regulatory limitations. Your new product development company can only take on projects for which it can establish a reliable path through development, and your team has to learn to recognize such products.

 

[Ronald]

A new product launch is highly challenging, no doubt, a new product launch can make you nervous as the big dark cloud of challenges that can hurt your product launch surrounds you. Launching a new product is definitely challenging, and only two in ten new products manage to survive in the market for more than a year. Bellow are common new product launch challenges
1, Brand messaging and product positioning
2, Audience Targeting challenge
3, marketing the launch challenge
THere are no Fail-Safe solution that can guarantee a successful product launch, but with our little experiences, we will stand a better chance of making our products successful.

A new product's introduction to the market is very difficult. The key tool is marketing and
branding where you'll spread the word about the product and want to connect with the large majority of your target market, both online and offline.

 

[Shigobad20201]

I think those 70 percent start ups fails because they never follow the correct method of marketing strategy and business plans that were required to make business successful. i think 6 months is too early for any kind of business to get closed down.

the main reason why new product and services fails is mainly because of competition with already existing product , if the be product fails to advertise and convince people to buy their product , they might fail because people prefer using what they knew very well .