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Essay / Research Paper Abstract
This 4 page paper looks at questions concerning the launch of a new product. The first part of the paper looks at what considerations should take place prior to the launch of a new product, the second part of the paper looks at the potential of adding new products to the range, the third part of the paper considers how it may be priced and the last part of the paper discusses communication options. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEnewlan.rtf
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Unformatted sample text from the term paper:
be argued that it should go without saying that the product should be tested as being legal and comply with all safety legislation.
A product will not sell simply because it is new and innovative; it has to satisfy a need or a desire. For example, people do not buy a bed;
they buy a good nights sleep, likewise they do not buy a drill; they buy the ability to make holes (Kotler, 2007). If there is an existing need or desire
then the costs of marketing will be lower and the break even point will be lower and possibly sooner than a product where the firm will have to create the
need (Hooley et al, 2003). The product should also be able to meet the customers needs and expectations (Roman, 2008). As well as being desired or needed for the
sales to be at a sufficient level to be profitable (with profit at an acceptable level) the company should be able to access the target market, and they should have
sufficient funds to purchase the product. If the market is already saturated then it may be difficult to make sufficient sales in the face of competition, if it is a
niche market product it may be difficult to reach those who will be interested in marketing and distribution terms. Before the launch the packaging should also be considered for
the way it conveys the message about the product, so that it is accurate and realistic as well as attractive and practical in terms of packaging cost, logistics and storage.
Question 2 When a product is launched there will be further opportunities to add to the range of products or create brand or product extensions. If the product
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