How to market a new product that isn't competitive?

12 replies
Hey y'all. One of the company I freelance at is wanting to release a new product that is already out in the market. It's an easy to use product, but will be missing some key features that other competing products offer. In this case, how would you position the product? Just trying to get some ideas out...
#competitive #market #product
Avatar of Unregistered
  • Profile picture of the author Kay King
    If there are competing products easily found - and those products have useful features YOUR products doesn't have...you go for 'low cost'...but you refer to it in ads as


    "finallly, an affordable option...."
    Signature
    Saving one dog will not change the world - but the world changes forever for that one dog
    ***
    One secret to happiness is to let every situation be
    what it is instead of what you think it should be.
    {{ DiscussionBoard.errors[11652459].message }}
  • Profile picture of the author visimedia
    in ur case, I think its saying:

    here we have less competitive product than our competitors, then smart buyers will absolutely will buy our competitor's products
    Signature

    For best hostel in malang https://bedpackers.com & mold inspectors orlando : https://waterdamagerestorationorland...d-inspections/

    {{ DiscussionBoard.errors[11652484].message }}
  • Profile picture of the author savidge4
    Originally Posted by productmarketertraining View Post

    Hey y'all. One of the company I freelance at is wanting to release a new product that is already out in the market. It's an easy to use product, but will be missing some key features that other competing products offer. In this case, how would you position the product? Just trying to get some ideas out...
    Does the competing product sell on Amazon and eBay? I would build out how to's and the like on the site with a place to purchase... but would do ALL of he marketing research on these open platforms to see what works the best.

    Work with leverage that is the built in traffic, vs trying to create it - basically develop the messaging and marketing for free vs paying for the mistakes in drawing traffic.

    Hope that Helps!
    Signature
    Success is an ACT not an idea
    {{ DiscussionBoard.errors[11652508].message }}
  • I'd find the people who don't need or want the missing components, and position the product as either cheaper or easier to use precisely because of how lean it is.

    Why pay extra for the bloat you don't need or use?

    The aim is to turn the disadvantage (missing components) into an advantage. If there's a genuine advantage of the stripped down version over the competing products with all the bells and whistles, then you need to focus on that.

    If there's no advantage, then like Kay said, a lower price may be the only advantage.
    Signature
    Strong Men and Women put themselves in harms way
    for the freedoms weak people give away for safety
    {{ DiscussionBoard.errors[11652542].message }}
    • Profile picture of the author Jason Kanigan
      Originally Posted by Declan O Flaherty View Post

      I'd find the people who don't need or want the missing components, and position the product as either cheaper or easier to use precisely because of how lean it is.

      Why pay extra for the bloat you don't need or use?

      The aim is to turn the disadvantage (missing components) into an advantage. If there's a genuine advantage of the stripped down version over the competing products with all the bells and whistles, then you need to focus on that.

      If there's no advantage, then like Kay said, a lower price may be the only advantage.
      Without details it's difficult to give specific advice. But yes, people buy multi-feature products typically for just ONE of those features.

      I was bizdev manager for an IT firm. We had a product that did four things. But people only bought for one of them.

      Six months later, they'd be messaging or calling me... "Hey, we love the X... do you have a recommendation for feature Y?"

      Despite our marketing and sales presentations clearly stating all four, they heard what they wanted to hear (and as a salesperson you'd be best advised to discover what that one key feature for that buyer is... this kind of thing is real selling). I'd have the pleasure of informing them they already owned feature Y.

      In our case, we couldn't know which feature of 4 would stand out for the individual buyer. But you can filter in your marketing for those in the target market who don't care about the other features competitors offer, and as Declan said position yours as the one for this market segment.
      {{ DiscussionBoard.errors[11652562].message }}
  • Profile picture of the author auraita
    Is it a digital product or a physical product, needs to be shipped ?
    FB and Instagram Ads, if it is a physical product, I'd go with Amazon and/or eBay.
    {{ DiscussionBoard.errors[11652548].message }}
  • Profile picture of the author surfer30
    I heard this from The Master, Russel Brunson's book. Create a "new opportuniy" and you will find your voice, people will buy your product and you make the big income. You have to work hard to find a good idea or create a software to solve people's problems.

    Not even shows you how to present a new opportunity. But how to get Traffic and leads.
    {{ DiscussionBoard.errors[11652575].message }}
  • Profile picture of the author Varun Kumar Ria
    You can promote products on all high traffic site like Quora,Reddit,forums,Fb groups,Blogging,Instagram,Pinterest,9gag,Steemit Hope tis helps will promotion takes a lot of time too especially organic promotion.
    {{ DiscussionBoard.errors[11652605].message }}
  • Profile picture of the author KyleMallory
    Like the others have said, the best way to is introduce this product as an affordable, bare bones version of your clients competitors products. You'll attract buyers who don't want to pay a higher price for features they don't need.


    Once they have happy customers, though, I'd advise your client to talk with them about features they want that their competitors' didn't have. The thinking here is that they chose your client over the competitors for a reason, and that reason may be that their needs are different than the current clients going for the competitors' products.


    It positions your client to break into a new sub-niche that may be under-served or completely ignored.
    Signature

    __________
    |
    \_________O(--)O_________/
    {{ DiscussionBoard.errors[11652611].message }}
  • Profile picture of the author nihitthakkar
    Some ideas to market a new product that isn't competitive:
    1. Offer customers an exclusive preview
    2. Use a special introductory offer
    3. Use of Google My Business
    4. Run a social media contest
    5. Spread the word via email
    6. Write a blog post
    7. Host an event
    8. Complimentary upgradation
    {{ DiscussionBoard.errors[11653028].message }}
Avatar of Unregistered

Trending Topics