Even if you think your new product or service is entirely unique and without existing competition, it's important to put yourself in your prospective customers' shoes and imagine what they might buy in lieu of what you plan to offer. Make a list of the businesses that offer products or services similar to the one you plan to launch. You have to start by taking a serious look at your competitors. Many business marketing classes teach participants how to perform a SWOT (strengths, weaknesses, opportunities and threats) analysis. And we carefully guide them through these seven important steps that will help them successfully bring their new products and services to market.ġ. In fact, a large percentage of the calls my company's coaches receive are from small-business owners who want exactly this sort of help. Sounds simple enough, doesn't it? But every day, countless new product and service ideas are conceived-never to be born because they're not properly brought to market. You've done your homework and decided exactly what you plan to offer now all you need to generate is sales.
So you want to bring a new product or service to market.
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