Challenges in new products and services introduction.

[Setfragil]

Starting a new products or introducing a new product the company is faced with a lot of tremendous challenges ranges from marketing strategies that will be used to make the public aware of the products, and the acceptability of the product to the customers. Another problem a new product might face is competition among companies producing the same product.

 

[Blessedsam60]

Thanks for the enlightenment about new products and his it challenges the existing ones. But I want to ask why is it that some new products in the market fails to overtake existing one? Is it poor in branding or lack of advertisement?

 

[adazeez1995]

The challenges are there no doubt. In order for your new product to be a success. It must have something unique, it should have something that other older products lack, Wether in quality or quantity. Also, aggressive marketing will go a long way in making it more visible
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Well, it is important for you to know all the factors surrounding the success of the product first. You have the check the area or your target audience. It shouldn't just be another product. What unique features is your product bringing to the market that will catch everyone's attention. If your products is quite special from the rest, marketing it would be quite easy

 

[McChris]

There so many challenges when it comes to introduce of new goods or product in the market and also customers will find it differcut to start using that product and also you will know how much you have talk to them and also the kind of discount you remove from the good before it starts going for market

 

[Esther]

Well the challenges are, cutting your time to market, ideation drives innovation,leading customers to your new product,providing your product's viability,establishing an initial price,implementing actionable post lunch refinement.

 

[Junaid]

Cutting your time-to-market. ... Ideation drives innovation. ... Leading customers to your new product. ... Proving your product's viability. ... Establishing an initial price. ... Implementing actionable post-launch refinement.
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Cutting your time-to-market. ... Ideation drives innovation. ... Leading customers to your new product. ... Proving your product's viability. ... Establishing an initial price. ... Implementing actionable post-launch refinement.

 

[Highflyer]

When trying to introduce a new product, the major challenge faced is winning people's trust and making them see reasons they should purchase it. There is also the problem of competing with big brands.

 

[Psalmseen]

There are big challenges in the introduction of new products and services. In the sense that most people already trusted the product they've been used to. And to change their taste and fashion to another product would be a problem. For example, a new cement product that wants to.compete with the likes of dangote cement

 

[Luckboy]

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.

 

[Odebunmi ajewamiri]

Introducing a new products to the market is a very challenging one because you don't know how your customers will react to it may be it would be accepted by the customers or not convincing them to buy ,advertising and how to make sure your product is reaching the part of market you want to reach is be a whole lots of efforts.

 

[Ibrahim1]

As for me its normal and what you really need to do is just to make your products good and also advertise your products very well and make sure you package your products well and make a private survey for your products

 

[Favyosy]

new product could be based on the level at which the other product are performing. Now when introducing a new product you make a remarkable. The truth is that the market are already familiar with the old product, so getting there interest towards subscribing for this new one could be challenging.

 

[KvngMurphy]

Team:- You probably have a permanent team made up of people with varied expertise to evaluate and choose projects, but you need specialists once you are developing a particular product. ​

Design:- To ensure a successful product development, your team has to design a product that has functionality foreseen by the inventor and attractive to the target market. You must be able to manufacture the product at a reasonable cost, and it has to meet safety regulations.

 

[Victor001]

Rebranding of products in comparison to new product could make customers adjust their thoughts towards a product,except that most product when introduce find it hard to clump the market, because customers are not familiar and there is not enough publicity,sometimes they prefer getting prior info about the products from someone close by.

 

[Segat]

Introducing a new products and services into the market is a great task which is very challenging and could be frustrating if the right approach is not used. One of the approaches to be use is that it must be of good quality and quantity when compare with the existing ones so it can be able to compete.

 

[oluwaseun tope]

The challenges that is attached to a product before people can patronize the product you need to advertise it continuesly and you will also have a competitor ,so you know how to re strategise your product and the re brand it

 

[Tinaconcept]

Thanks for the enlightenment about new products and his it challenges the existing ones. But I want to ask why is it that some new products in the market fails to overtake existing one? Is it poor in branding or lack of advertisement?

For me I will say why new products hardly over take new ones is what we call brand name, customers are used to so many different brands once they come to buy they ask for the existing product and even after introducing the new product they seems to go back to the existing product.

 

[Muhammad hussain]

I think whenever something comes on the market, it takes some time to make a name for itself. Advertising of its products is very important. If it is cheap, then you will understand about the product.Therefore, Arabic language is very important

 

[Hellen]

You have to execute all the steps correctly and create a product that appeals to a particular market. Because the process is difficult, once your company has created several viable new products, its services could be in great demand

 

[Deebabs123]

Companies are constantly developing new products to keep up with consumer demand, technological advancements, and innovations. Although developing a new product can be profitable, companies can be confronted with many challenges that need to be overcome before the product launch can be termed a success,