In the Introduction Stage of the product life cycle, you can expect that the cost of creating and advertising a product will be high; sales and profit will be low. Also in this stage, other manufacturers will wait and see if the product being introduced in the market will create demand that will ensure profit.
Product Life Cycle- Introduction
For product awareness to pick up, the manufacturer should advertise the product using print, video and audio advertising, along with multiple channels of distribution. They can also spread the word by giving out samples of the products (think of sample booths at Costco or Sam’s Club).
Also non-traditional methods of spreading the marketing message like social media (online videos, social bookmarks, community posting and many other ways) are more ways to help create product awareness. This is a crucial stage in the products “life” it can become the next Cherry Coke or will be discontinued like Pepsi Blue. Both shown below with comments:
Pepsi Blue was launched in the mid2002 and discontinued in 2004. Even with the heavy publicity by Britney Spears and the bands SEV and Papa Roach, it failed to be a household mainstay.
Cherry Coke on the other hand, is the first flavored Coke introduced by Pink Floyd to a test audience at the 1982 World’s Fair. Cherry Coke is available in most of Europe, New Zealand and Japan.
Introduce Your Product,
Samuel Carrara
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Your submission is now listed on my blog. I just approved it.
TY,
Bill
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Advertise the product is a big factor in the introduction stage.Spreading the word by giving out samples of the products
is a nice idea in popularizing the product among the people. The one thing to remember that the advertisement should enough to touch the mind of people.
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