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Recipe for Success: Product Development & Marketing Strategies

Discover the essential ingredients, process, and timing of product development blended with effective marketing strategies. Just like baking a cake, this journey involves planning, creativity, innovation, and market research. Learn how to navigate from concept to launch, ensuring your product reaches the right audience at the right time. Explore the collaboration between product developers and marketers in delivering a successful product to the market.

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Recipe for Success: Product Development & Marketing Strategies

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  1. product development and Marketing
  2. 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
  3. Product development Timing When are you going to get your product on the market? Distribution Who will distribute your product? Why did you choose them? Where are they located? Logistics How are you going to get it from your manufacturers to your distributors? Don’t forget Startup Capital!! ManufactureWhere is it being made? Why did you choose this? Product Development & Marketing
  4. Marketing Step 1: Your Ideal Customer Step 2: Your Brand Step 3: The Marketing Plan Step 4: Get the word out Product Development & Marketing
  5. 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
  6. Step 2. your brand How do people describe your company? Your product/service? Product Development & Marketing
  7. 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
  8. Step 4. get the word out - cheaply Product Development & Marketing
  9. The most important question is… Will they buy it? Product Development & Marketing
  10. The most important question is… Will they buy it? Product Development & Marketing
  11. The most important question is… Will they buy it? Product Development & Marketing
  12. The most important question is… Will they buy it? Product Development & Marketing
  13. The most important question is… Will they buy it? Product Development & Marketing
  14. The most important question is… Will they buy it? Product Development & Marketing
  15. The most important question is… Will they buy it? Product Development & Marketing
  16. The most important question is… Will they buy it? Product Development & Marketing
  17. The most important question is… Will they buy it? Product Development & Marketing
  18. The most important question is… Will they buy it? Product Development & Marketing
  19. 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 Product Development & Marketing
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