I’m involved on a project aiming to launch a technologically advanced product into an arena where legislation has removed any current viable options. There’s a yawning market gap compounded by substitute solutions being woefully inadequate.
The entry-level version of the product will retail at around $40. It is mass-market with first year projections for six-figure unit sales.
Two ad agencies have been approached for an initial campaign, costed just below $400,000. One of them summed up their approach to market as
“hit it hard, hit it fast”.
Although this struck me instantly as skewed towards their own and short-term agenda, it did neatly sum up what everyone wants to do when launching a brand new product. First-mover advantage can be vital, but how do you utilise it rather than simply stoke demand for competitive entrants?
Interestingly, when I had a little ailment randomly, suddenly appear a while back, the doctor’s advice was exactly the same phrase. And I was cured.
From my experience in this area, this is one mantra that solution sales teams can definitely use to their advantage to help focus their support efforts for new product launches.