When a new product enters a market, it is vital to make sure that its growth stage is managed professionally and a proper and effective strategy is selected. Regardless of this product’s uniqueness and quality, it usually takes a lot of effort to advertise and market it, and this process involves choosing media platforms, venues, and different tactics. In this paper, the importance of this strategy is demonstrated in the example of a new brand of hiking boots entering the market and having to be advertised properly.
To begin with, a marketing manager should select the best sorts of media to promote this product because the optimum sales growth usually depends on the success of the advertising process. For instance, considering the increasing use of social networks, it would be a good decision to make targeted advertisements on the most popular platforms, including Instagram, Twitter, Facebook, and Pinterest. In that case, users already or potentially interested in hiking, camping, and similar activities would see the advertisement and think about buying these shoes or telling their friends about them.
Then, another effective type of social media effective for product promotion is indoor billboards placed in shopping centers. They are rather bright and eye-catching, and they are also aimed at potential buyers who have already come to shop. If these people see this billboard advertising the hiking boots next to a sporting goods store, they are likely to get interested in trying the shoes on and then purchasing them.
Finally, the third type of social media that is still efficient for advertising is broadcasting, and television in particular. Since the social networks ads mentioned above are aimed primarily at young audiences, TV commercials would be a perfect way to engage older generations. Certainly, many older people are into sports and walking, so comfortable hiking boots that protect feet from calluses and pain may be of interest to some of them.
Producing a new and competitive product is usually challenging, but the launching phase may be even more difficult and resource-intensive. Therefore, it is of vital importance to pay close attention to the selected venues. For instance, it seems reasonable to present the new brand of hiking boots in an event center where it would be budgetary yet engaging. People will be able to feel comfortable and be interested in the hiking boots because of the simultaneously pleasant and business atmosphere. Moreover, in most of these event centers, there is nothing that could distract guests’ attention, but it may happen in design or historical venues.
Another perfect venue for launching hiking boots is an outdoor place like a park. It is hard to imagine a place more suitable for demonstrating the comfort and quality of boots because the guests will be able to try them on and walk in them in conditions close to a real hike. Moreover, nature contributes to the relaxation of guests and their good mood, as well as attention to the presented product.
Finally, it is essential to select appropriate tactics that are likely to help the new brand of boots reach optimum sales growth. First of all, the pricing strategies will include penetration, which will make it possible to gain a loyal customer base and remain high competitiveness, and odd value pricing, which will influence the customers’ buying decisions. As for marketing changes, it is likely that an influencer’s involvement and hidden advertising from him will be very effective.