Promotion for the Customer: Because the company is launching a new product
in the market, the first role of the advertisement is to make customers
aware of the product. Therefore, the company will need to make the use of
the television advertisements and print media. Both of these advertising
avenues are critical to make customers aware of the opportunities of
finding new products in the marketplace. In general, TV advertisement
offers the availability of a new product; and print advertisement provides
more details about the specification and use of the product (Garfield,
Once customers become aware of the product, the company can also
advertise its product via the Internet. Because in today's market, the
Internet has become a cheap alternative of product advertisement,
therefore, in the later stage the company should make use of the Internet.
Promotion for the distribution Channel Member: If the product is new, the
company will need to make use of brochures and catalogs to show how new
product is superior to the existing products. The catalogs and brochures
should also show the functionality and uses of new product through pictures
(Goodlad, Eadie, Kinnin, and Raymond, 1997). In addition, the company
needs to make the use of special packaging to describe the advantages of
new products over the existing products.
Promotion for the Retailer: If the product is new, the company's main aim
is to make sure that the sales of the product grow overtime. Therefore, in
the initial state of the launching of the product, the company should make
the use of the special discounts and coupons so that customers buy the
products from the retailers (Mobley, Bearden, and Teel, 1988). The company
will also like the retailer to prominently display new product at two or
three aisles in the shopping center (Grimshaw, 2003).
If the product is in declining state, the company's best bet w...