Challenges in new products and services introduction.

[eLdavis]

One of the major challenge in any new product, is gaining the right audience the right way. Many products come and go without many people knowing about it because they failed to showcase their products in ways that would suit their targeted audience

 

[Eodine]

You n a new product o goods, they are allot of challenges, you as the CEO of the company allot of advice can come to you and n different accept and some r
Time you may think that can this work,
Some of the challenges are
1: to advertising of the product
2: the capital to move it forward.
3: the quality of the product how qualitative it is .
4: need of the product to the society.

Capital is a main restriction in the introduction of a coin to the crypto currency market as money is needed to start the business and push it to the market.

 

[Alexandoy]

One of the major challenge in any new product, is gaining the right audience the right way. Many products come and go without many people knowing about it because they failed to showcase their products in ways that would suit their targeted audience

Yes, the right audience is important when promoting not only a new product but even with the business. You do not do your marketing to a group of pensioner when your product is for the younger generation. As they say in marketing, hit the target with a rifle and not with a shotgun. Be precise in your target audience.

 

[Dubai]

You highlighted some basic points of which I think the most pressing challenges of new product is the trust and effectiveness of the product. Many people would be skeptical about the durability and how reliable it will be.

 

[eLdavis]

Yes, the right audience is important when promoting not only a new product but even with the business. You do not do your marketing to a group of pensioner when your product is for the younger generation. As they say in marketing, hit the target with a rifle and not with a shotgun. Be precise in your target audience.

Exactly. Just like you said not just in even new products alone but also in the business as a whole and i believe this would work for even old products that are already known. Most old products these days dont even try to create more awareness or attract new minds cause they feel they are already known in the market

 

[Trexxxy]

When you're launching a new product it is always difficult to break into the market. However with the right strategies in place he can break the market with a new products.

 

[Dowenship]

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.

Yeah, branding messages and product positioning with the challenge of audience targeting. You can also launch your product which is a marketing strategy.

 

[Setho]

There us always that doubt and fear that comes when you want to launch a new product or scheme because you can not predict how the public will receive it and that is why it is good to do ground experiments first.

 

[Sotherefore]

Most business that are starting newly always give out incentive to people because they understand that this is the only way they can attract people into their business, any business that started newly should try and follow the step of giving out incentive and bonuses.

 

[Haveit]

One of the problem of a business in an economy is what to produce, that must be accepted in the market then there's for whom to produce, that is if the market would accept the product itself.

 

[Senator]

New products will definitely have a lot of challenges to face in order to become known and make sales. You will have to face the challenge of heavy budgeting on a lot of advertisment to begin with

 

[Jlife]

Most products that do not survive after being launch are the product that do not have anything good to offer to their customers, you all must understand the law of nature ,people cannot overlook what is important in their life.

 

[Ralphjoe]

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.

Yes it is very true that for most businesses they do fail at their first attempt and this has really made some potential great businesses to fold up because of their first failure. Had it been, they know that the business as a big probability of excelling when, they try again they would have done it.

 

[Bousine123]

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.

I think marketing should be the top of all the challenges you have mentioned. Marketing plays a major role in business growth, and likewise a new Product.

 

[Josemendez]

All these challenges outlined can be overcomed with adequate planning . When a new product wants to come into a market with competition , the owner needs to capitalize on what is wanting in existing produc t

 

[Razor1911]

All these challenges outlined can be overcomed with adequate planning . When a new product wants to come into a market with competition , the owner needs to capitalize on what is wanting in existing produc t

The planning should be focused on producing a better product. If the product doesn't have better quality than the peers, that will have hard time to sustain in the market. Obviously there should be something edgy.

 

[Sotherefore]

Lack of trust by consumer are always the most challenging things for new business nowadays ,in this case all business must go extra miles to prove that they are really trusted.

 

[gammarays]

Introducing a quality goods or services can go a long way in solving the issue of introduction. When you market it to your initial customers, they'll recommend it to others easily if they like it.

 

[Richard92]

Always first competitions and challenges the boy it is generally accepted by the group of people or consumers nevertheless a good businessman should not give up until he make profit out of the business.
Social media advertisement and marketing can help in the process.

The different challenges in product specially when the product is new in the market because people has not know more about the products and you have to market the product.

 

[Yusuf1]

While launching new products and services out there to the market, it's always very hard to meet the goals set for the promotion. However, with dedication and hard work it will be possible