What are the factors to be kept in mind while launching a new product in the market?

What are the factors to be kept in mind while launching a new product in the market?

While launching a new product in the market, the launch should be exciting and informative.The following points may be useful in this regard:

a.Attractive packaging : should be colourful and eye-catching enough with the name of the company and its product name also mentioned in it.

b. Determining the target audience: Who will be benefiting from the use of the product? Which segment is suitable ?

c.Unique slogan: A catchy and unique slogan should be used to give the product and the company its identity.

d.Competition: there has to be an awareness of the prospective competitors in the market how they have launched their products and how the firms products can be different from them in the market.

e.Widespread advertising and promotional campaigns .

f.Organising seminars and press conferences to publicize the product.