Companies are introducing new products around the world every year. So why do many familiar products continue to line the shelves year after year gathering dust?
These failures are not only disheartening for a company, but extremely expensive. Companies spend large percentages of their marketing dollars coming up with advertising and placing new products. For the best chance at a successful product launch, companies need to do their research on how, where, and when to launch a new product for maximum exposure and coverage.
Time Marketing
The “when” of this formula is known as time marketing. That’s the process behind timing the release of a new product to the market. Depending on the product and the industry, many factors must be considered about the timing of new products. What day, month, or stage of a product’s lifecycle should a company release a new product or service? What does past usage of similar products indicate? Is there a slump time period and why does it happen?
3 Ideas to Help You Pick the Right Marketing Season for Your Business
