It is the People Who Contribute to Operational Excellence
Establishing leadership whether in a product market or a services market is not easy, especially in the fast changing world where the life cycle of products and services tends to be very short. A look at the Companies that have grown in stature and maintained their growth story tells you of the hard work that […]
Analyzing Business Markets and Business Buying Behaviour
A market consists of two parts consumer market and business market. Companies manufacture products for consumer market but business market is equally large and strong. Typical business markets consist of manufacturing plants, machinery, industrial equipments, etc. Companies need to study and analyze factors affecting business markets and business buying behaviour. In a business market, organizations […]
Merchandiser in International Retailing as a Career Option
International Retailing industry is a every green industry that will keep growing and evolving with time. Merchandizing is one of the most important functions in the Retailing Organisations. The job responsibilities and functions of the Merchandiser directly impact the success, profits and the performance of the retail Company. The job calls for multi skills, sharp […]
Strategic Leadership – Definition and Qualities of a Strategic Leader
Strategic leadership refers to a manager’s potential to express a strategic vision for the organization, or a part of the organization, and to motivate and persuade others to acquire that vision. Strategic leadership can also be defined as utilizing strategy in the management of employees. It is the potential to influence organizational members and to […]
Understanding Human Behavior Helps Build Ideal Brand
Human behavior is very complex and varied. As many as there are people, there are differences in their thinking patterns. Therefore, as far as the brand management goes, it is not only important to gather data and analyze the buying pattern, but understand how the customers go about making their buying decisions. Decision making with […]
Successful product launch does not end with merely introducing the new product in the market and then forgetting about it. Some organizations tend to adopt a casual attitude once their product is in the market and trust me; this is one of the biggest blunders to commit. Post product launch is often the most underestimated phase in new product development. Post product launch is just not celebrating your achievement but also understanding how well your product is accepted by end-users and your esteemed clients.
As an organization, you need to interact more with target audience after the product launch to ensure they are not only satisfied with your new product or service but also getting the features and benefits as promised by your marketing professionals during promotions and campaigns. Speak to customers over the phone, write them an email asking their feedback or ask your marketing team to visit them to find out as to what they think about the new product and the services rendered to them.
Design a page in your website where customers can post their comments and views so that you, as a responsible employee of your organization know where you have succeeded and in which all areas, still there is a scope of improvement.
Customer feedbacks are extremely crucial after product launch and need to be monitored carefully. Assign an individual who dedicatedly addresses customer queries and helps them whenever there is a problem.
Remember, a new product in the market definitely raises customer expectations and it is essential for an organization to touch base with their clients on a regular basis to find out whether the new product has made them happy, fulfilled their needs and has been an effective replacement of what they have been using till now. Customers are undoubtedly the “Kings” of every business. Do not ignore them just because you have sold the product. Trust me, if you do so, you will soon be out of the game.
We call press conferences; throw launch parties when a new product has to be introduced in the market but what about a post launch party? Organize a post launch success bash and invite your regular clients and also ask them to bring their friends, relatives so that the popularity of not only your product but organization increases manifold.
Ask happy customers to write testimonials or make an interesting video where they share their success stories which can be further used for marketing purposes. Believe me, relationship with customers does not end with the mere selling of the product but continues so that you create clients for life.
Keep in touch with all your dealers, outlets, stores and keep a track of sales. Monitor sales reports closely. If there is a dip in sales; it is an alert signal for the organization to quickly analyze the reasons behind the same. Find out whether the product needs a price restructuring or should be marketed more aggressively.
Remember, your clients are your biggest critics. Never ignore their suggestions or complaints. Once new products hit the shelves, visit the store frequently to not only interact with walk-ins but also understand as to why the customers are still not ready to invest in your organization’s offerings. In such a case, get in touch with your advertising agency and ask them to design another exciting advertisement with some additional features and benefits as mutually agreed by the product team to catch customer’s attention.
Tie up with external auditors who carry audit of the products to ensure everything is as per prescribed parameters and guidelines. In case of problems or manufacturing defects, organization needs to take action immediately. Any customer complaining of a product defect needs to be provided a replacement or adequate compensation.
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