Spreading limited advertising dollars too thin across too many targets is not productive.
St. Louis, MO (PRWEB) June 10, 2015
National Sales Solutions, (NSS), a leading provider of sales, marketing and supply chain management for consumer packaged goods companies, has published an article called “Top Four Reasons Why New Products Fail”. The full article can be found on the National Sales Solutions website.
According to Nielsen, 85 percent of new products fail. For consumer packaged goods (CPG) companies, the odds are a bit daunting. After working with big and small brands for decades, National Sales Solutions has compiled a list of what not to do when launching a new brand, along with advice on how to avoid the pitfalls.
Mistake #1: Believe it’s all about the product. The retail landscape is littered with products that had better technology but were outsold by the competition. It’s as much about why the retailer needs your product as it is about why the consumer needs it.
Mistake #2: Think Small. A good way to evaluate which marketing channels will work for your target market is to identify the channels used by large brands. Large brands have large research budgets to guide their decision-making.
Mistake #3: Design your own package. The package must meet the needs of consumers and retailers. If you don’t have years of experience working with retailers, you are not qualified to design a package for the retail shelf.
Mistake #4: Believe everybody needs one. Define a target consumer by identifying specific characteristics of the person most likely to buy your brand. Invest only in developing this relationship. Spreading limited advertising dollars too thin across too many targets is not productive.
About National Sales Solutions
Founded in 1998 and headquartered in St. Louis, Missouri, National Sales Solutions is a leading provider of outsourced sales, marketing and supply chain services to consumer packaged goods (CPG) companies. We serve a diverse group of global clients and provide each with personal attention to their specific goals. We help clients launch new products, expand into new retailers, grow current sales or enter the U.S. market from abroad. National Sales Solutions offers a complete solution, serving most retail channels, including Food, Drug, Mass, Convenience, Beauty, Natural Products, and major Online retailers. For more information please visit http://www.NationalSalesSolutions.com.
National Sales Solutions