If I want to introduce a new product in India, what should be my strategy?

The strategies are developed based on the product, it targeted market and many other factors. However, I am enumerating few generic points.

• Make a thorough research of the market and need of the product. Select the target audience, the mode of market presence and audience reach, analyse the competitors (if any).

• If you are first to introduce the product, you are already at benefit. However, simultaneously, you are also at risk to produce the need of the product in the already established customs and market.

• Now-a-days it is quite helpful to be in buzz prior to launch, which is a quite popular marketing strategy for businesses. Therefore, before you launch the product, you must start advertising it to the target audience. Fewer options can be online presence, press releases, etc. One of the popular trend is to make the product available to influencers.

• Business giants like Reliance, Tata, etc. fewer times opt to launch the product details in market before it is in actual production. However, this may not work for medium scale businesses. Those must select the launch date nearby or only when the product is readily available.

• As soon as you launch product, you need to make sure that trials are easy for people, if possible. Strategies like free trial, demos, sample products, etc. can be touched upon.

• Also, the business partnership is quite essential for the new product and the business as well. Choose the right partner based on your requirement.

That’s all from me. All those mentioned above can be helpful to you in one or the other way. If you have pre-established product outside India, you also need to put a check upon the differences between both audience and acceptability.