From there, the next step is to develop an introduction strategy. Basically, a program is needed; one which must be religiously adhered to. It makes good sense to have a "theme" or some sort of catchphrase which immediately identifies this program. This may include a brief description of the product, the name of the designer if he/she already has name recognition, a copyrighted name for the product which is basic and easy to remember, etc.
At this point it becomes necessary to refine the product line to a manageable number of shelf keeping units (SKU). By doing so, this allows for a strategy for future product introduction and expansion.
Having settled on a specific number of products, one then should revisit the design component. Refinements must be made to accommodate both modularity and color as related to standard stone formats and current popular colors.
A pricing strategy must then be developed. Actually, this is a fairly simple piece of the puzzle. Once manufacturing costs are recognized and concurrently you listen to the marketplace, you'll arrive at reasonable prices to offer to various channels of distribution, which will result in an affordable buying opportunity to the end-user.
A comprehensive sales strategy must then be developed. This plan recognizes the implications of a new product launch. Target customers and potential sales agents must be identified. Goals should be established, including in-house personnel assignments with action plans and accountabilities.
No new product launch can be totally effective without a solid advertising and public relations campaign. Depending on your past associations, you can either outsource this part of the program to a trusted professional firm which knows your industry or, you may already have the in-house muscle to handle this. One way or the other, to launch a new product without advertising and public relations is not unlike eating a salad without dressing. One needs the other.
Collateral materials must then be developed, including sales literature, "sell sheets," sample programs, merchandising modules, website productions and much more.
Finally, logistical issues such as warehousing, material handling and shipping must be addressed, as well.
Clearly, successfully developing a new natural stone product with long-term staying power via waterjet technology is a large undertaking and remains a work-in-progress. Each step requires carefully outlined strategies and schedules that are painstakingly designed. Equally important, each step should be systematically and carefully executed prior to moving on to the next one. Suffice to say, bringing a new product to market should not be taken lightly. Taking the time to methodically proceed with meticulous attention to detail can ultimately be a pathway to remarkable success.
Randy Stertmeyer recently joined Creative Edge Corp. as director, sales and marketing. Previously, Stertmeyer was the general manager of Louisville Tile's Cincinnati facility. Prior to that, he was the senior vice-president of sales for Questech Metals Corp.
Randy Stertmeyer recently joined Creative Edge Corp. as director, sales and marketing. Previously, Stertmeyer was the general manager of Louisville Tile's Cincinnati facility. Prior to that, he was the senior vice-president of sales for Questech Metals Corp.