PRODUCT DEVELOPMENT AND MARKETING. Product Development & Marketing PRODUCT DEVELOPMENT Think of it like baking a cake….. What are the ingredients? Who’s.

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Presentation transcript:

PRODUCT DEVELOPMENT AND MARKETING

Product Development & Marketing PRODUCT DEVELOPMENT Think of it like baking a cake….. What are the ingredients? Who’s the baker? Where’s the oven? How’s it getting from the oven to the shop? Will it be in a cake tin?

Product Development & Marketing PRODUCT DEVELOPMENT Manufacture Where is it being made? Why did you choose this? Logistics How are you going to get it from your manufacturers to your distributors? Distribution Who will distribute your product? Why did you choose them? Where are they located? Timing When are you going to get your product on the market? Don’t forget Startup Capital!!

Product Development & Marketing MARKETING Step 1: Your Ideal Customer Step 2: Your Brand Step 3: The Marketing Plan Step 4: Get the word out

Product Development & Marketing STEP 1. YOUR IDEAL CUSTOMER Who is your ideal customer? Age; Location; Lifestyle; Income; Shopping habits; Hobbies Will they buy your product/service? Survey; Focus groups; Product testing; Pricing; Competitor research

Product Development & Marketing STEP 2. YOUR BRAND How do people describe your company? Your product/service?

Product Development & Marketing STEP 3. THE MARKETING PLAN Advertising e.g. website, flyers, facebook Promotion – media release, product launch Find sales channels – retail outlets, online, business to business, direct to customers Sales activities – market days, expos, trade fair Networking – create referrals

Product Development & Marketing STEP 4. GET THE WORD OUT - CHEAPLY

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing THE MOST IMPORTANT QUESTION IS… Will they buy it?

Product Development & Marketing YOUR TURN….. Product Development Bake the cake Marketing Step 1: Your Ideal Customer Step 2: Your Brand Step 3: The Marketing Plan Step 4: Get the word out