Strategy, veni vidi vici, new products on existing markets
3 May 2010 Leave a comment
I came, I saw and I conquered…
With all the innovations and new products on the soda market and energy drink market, it’s difficult to see if one is standing out. Actually it’s that with every market.
Just check out a parking lot of Ikea. You can name all brands, maybe even name all the models. But ask yourself viewing over this parking lot. Will there be one car you find remarkable, one car that is standing out.
Because what they all do, my own company included, is going to a market with a new product. They buy TV Ads, they buy product placements (covering events and better deals), they hand out free samples with food and beverages.
They come, they see and they try to conquer. Maybe it could be that easy if your product was interesting. But you are the last player on this market, so your product is boring.
I’m not saying that is a fact. I’m just saying that is how the consumer thinks about your product and they will still take their favorite brand and will just go on with shopping.
So new products on existing markets how do you launch a product that is boring, I’m not saying it is (remember the consumers):
1. You take your idea and give it a name.
- A name that people easily can remember and is easy for telling someone about it.
- Refreshing your memory about what the brand stands for and what the product stands for.
- Then think of a name and a product launch you would definitely go to, just because it sounded cool.
2. Invite your friends to ask them and pitch their friends your idea and your name.
- Ask for feedback and write all the details down.
- Ask an enemy, he will tear your product down and maybe you can build it up again
- Ask a competitor, he will say his product is better and why. So you’ll know what is wrong with the product.
3. After these first 2 steps evaluate your product and ask people how they would notice your product in the shelf. Without product placement and without free sampling.
4. Can we live without a screening off your product: I say NO.
- The case with Red Bull Cola is that they try to push the product with the same marketing mix as Red Bull.
- Newsflash Red Bull – Red Bull Cola isn’t Red Bull, but everybody thinks it’s Red Bull with Cola.
- Wrong branding and wrong marketing
- So don’t make the same mistake Red Bull made.
- If you create a new product make it new, not something like the original. Because then again your product is boring
5. Can we do it without free sampling: I say Yes.
- A brand like Vitamin Water is saying Veni Vidi Vici. They try to take the European Market with a push marketing strategy, because it’s so popular in the United States of America it must be in Europe.
- It’s water with a taste. Spadel group tried it all ready and failed miserably. So don’t try to push it with free samples.
- I’m not saying Vitamin Water is a boring product. It’s quite remarkable.
- But push it with remarkable people who are remarkable in their own country. Europe is not a United States of Europe remember that.
6. If you check the following little picture with Vitamin Water, they position themselves next to Red Bull and Monster: it’s just water, wrong position. Think about where you position your product.