About the advantages and uses of the new product concept

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In the market introduction stage, sales are low as a new idea is first introduced to a market. Customers aren’t looking for the product. Even if the product offers superior value, customers don’t even know about it. Informative promotion is needed to tell potential customers about the advantages and uses of the new product concept. Even though a firm promotes its new product, it takes time for customers to learn that the product is available. Most companies experience losses during the introduction stage because they spend so much money for Product, Place, and Promotion development. Of course, they invest the money in the hope of future profits. Agree? and Why?

Reference no: EM131375355

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