Marketing of a New Product
Introduction
Under the umbrella of
new product we also include services, product variations, and the like. You
would think that simple consumer products are the same the world over. After
all, they are used in the same way by all human beings. This makes sense, but is
politically incorrect. Take something simple like hand lotion. Here are some of
the things that have to be considered
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The labeling on the container must be sensitive to the
culture.
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Government regulations may specify exact labeling rules.
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Cases holding multiple containers may have specific rules as
well.
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The colors used on the container and for the product will
probably have to be customized to the country.
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Whether to have men, women, children, or pets on the label
is another issue.
There is also the issue of the name of the product. One drug store
chain changed its name and the new name was offensive to over 40% of the
customers. In another case, a new car model was named something that was
insulting to the parenthood of a person. Anyone who purchased this model was
then viewed as an idiot.
This carries over into the form of advertising and media that will
be used. Another factor is whether your firm already has a strong brand name and
presence in the country. This will allow you to cross-sell the new product with
existing products.
The important lesson learned is that a new product has to be
customized to the specific market segment. This is almost part of product
development and should be treated as such. Many good products only succeed in
one or two markets. In others they have to be withdrawn from the market and then
relaunched later.