Marketing

Developing new products

1.Market research By carrying out marker research,a company can predict whether there exist a niche market for a new product and know the customer’s basic needs so that the new product will sell well when it is launched into market.

2.Advertising

3.Price A product’s price is a very important factor in deciding whether customers will buy it or nor.The new product’s price must be reasonable and competitive.

4.Identifying targeting customers. The targeting customers’ preference and dislikes,the capacity of buying,social status,consuming habits are key factors for producing a marketing plan.

Dealing with competition

1.Pricing policies Price is a very important factor in consumers’ buying decisions. Offer competitive prices to attract customers.

2.Advertising Increase brand awareness More likely to buy when they have seen some eye-catching advertisements.

3.Quality A firm differentiates itself through the quality of its products.