Question

Topic: Strategy

Best Practices For Introducing New And Better Product Against Est Vendors And Profits.

Posted by Anonymous on 2/1/2009 at 3:31 AM ET 250 Points
Hello, my name is Michael. What strategy would you recomend for introducing a new travel trailer or fifth wheel into a market that truly does have many more features and bennifits at a price that is lower or competitve against established competing profits. We utilize four radio stations, one TV station and at times newspaper. Media tragets our primary demographics. My thought us to name the very good others and then what makes us better, features, bennifits and price. Thank in advance!
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RESPONSES

  • Posted on 2/1/2009 at 11:09 AM Accepted
    A number of reactions: First, I wouldn't name the others. It just makes THEM more visible to your prospective customers. If you feel that comparing features and benefits is the right way to go, simply label the competition A, B, C or X, Y, Z.

    Next pricing: If your product is really better than your competitors' products why should it be less expensive? That's not logical, and it signals to prospective customers that there's something fishy. If the product is really better it should cost MORE, not LESS.

    It sounds like you need to go back to the positioning platform for your brand and make sure all the marketing mix elements are in alignment with that positioning.

    Have you researched your current customers to find out why they purchased your product instead of a competitor's product? If not, you probably ought to do that.
  • Posted by telemoxie on 2/1/2009 at 3:22 PM Accepted
    Can you provide us more information, such as your graphic region, or possibly even a link to a website if you have one? The more information you give us, the more helpful we can be.

    I see that your handle is sales. Are you primarily a salesperson or marketing person or both? You may want to fill out your profile page to tell us more about you, your company, and your market. This way, we can offer helpful marketing advice, and maybe even some political advice to help you get things done in your current position and organization.
  • Posted by Jay Hamilton-Roth on 2/1/2009 at 9:00 PM Accepted
    Why not create an informational website for people to compare/contrast all vendors? If your offering is as good as you say it is, then a fair ranking (inviting the average user to review/rate each product) would only help your positioning. Done correctly (i.e., not trying to sell anything), you'll provide true value to people interested in impartial reviews in an easy-to-find place.
  • Posted on 2/3/2009 at 4:53 AM Accepted
    Hello michael,
    What you have mentioned is only the mode of communications that your company seems to be using. I would recommend a perception audit/research to find out what the customer actually want in a travel trailler and then include the best element which comes out in the research in your communication strategy.


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