Product Entry Strategy
In order to improve the chances of your product being successfully received in the market, it is helpful to implement a product entry strategy. A product entry strategy aims your product in a specific direction, making it more likely to be accepted by certain demographics than if you were to just dump the product on the market.
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Types
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There are three generic strategies that you can use for your product entry strategy. You can position the product as a cost leader (the most affordable), the market leader (the best in class) or as a niche product (catering to a small, target audience).
Considerations
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When deciding which strategy to implement, an organization should consider the resources available, the strengths of the product and the general market climate.
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Misconceptions
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People may think that you can only use one market entry strategy for a product. It is actually possible to re-brand the same product in different ways in order to introduce it to the market using different strategies.
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