Hack to launch a new product in a new market

Hack to launch a new product in a new market

Recently, I was invited to be a part of a webinar highlighting the key aspects for brands to enter the middle eastern markets.

The webinar was organized by my friend Anupama Parkar and her agency 4C Integrated

During the course of the webinar, I was asked the question,

"Ritesh, how would you launch a new brand in a new territory?"

"I would use Bottom-Top funnel approach, which is based on the rationale of breaking all the traditional way of marketing & execute growth hacks to find gaps in product-market fit, product-price fit and communicate it using digital insights and social media" , I replied.

Now, let me explain you this concept through my favorite example of potato chips, ( my all time favorite snack though I try to avoid it being diabetic).

Case example – Launching Potato chips using traditional marketing.

In traditional marketing, a marketing professional would check for the market feasibility, in terms of size (volume and value), market players and their shares, their share of voice and share of mind (recall), and will check for the places for distributions (hypermarkets, etc) and plan for the brand campaign and its positioning for talking to kids who happens to be the biggest lovers of chips.

This is how traditional marketing works.

In Marketing 4.0:

Cut forward to Marketing 4.0 (digital age), an era where the customers don’t trust anyone, especially what you are saying… (retention space for the message is less than 3 secs).

  1. A digital marketeer would craft his story message; a message of chips which is healthy, non-fried but baked, potatoes grown on organic farms, preservative-free, etc.?
  2. Packaging would also be crafted targeting mothers and not kids, hence chips would come in a box and not in packs and would be retailed in the health packaged foods aisle and not with other chips.
  3. Target digitally (using FB/Insta/ Tiktok) a small group of mothers who care for healthy snacks & want to give the best to their kids.

The story: “Moms who want their kids to be healthy, offer the best”

All moms are the same in the entire universe, they care for their kids.?

Moms talk to other moms and would become brand ambassadors.?

They would pack your healthy chip in tiffin boxes and that is how you would create a niche for your chips brand in the market.

You need a small group of like-minded people who would buy your story and act positively.?

The success of digital marketing is due to the fact that your digital data can give you insights and target customers with your story messaging.

One of my latest projects is the development of the retail accelerator for beauty brands called Adhara Retail which is a one-stop retail accelerator for testing brands in retail, Pop-ups & provides expert consulting in Retail leasing, staff training & retail ops, and franchising to scale your brand.

Adhara retail is a place wherein you can see and shop “All the new to market Beauty brands”.

Few brands to mention are HNCo scented candles, LOS, Botany Bar skincare, Newkee skincare along with a range of fashion accessories and bags/clutches.

A destination which promises women to – Glam like a star.

If you are a business owner operating in the beauty/fragrance genre & want to grow your business & need a retail expert to help you achieve your “Vision to Reality” framework then feel free to write to me at [email protected] & schedule a discovery listening call over a #coffeechat.

Learn Go To Market hacks, by clicking here.



Ritesh Mohan

I help retailers to scale their business by 4X by leveraging sales data insights, retail ops & marketing strategies.??Retail Sales growth hacker, ??Franchise expert, International Business,Digital, Retail leasing & BD

1 年

Thanks everyone

回复
Subhobrata Sengupta

Sales Leader with 20 years’ experience, driving excellence in Strategic Planning, GTM, P&L Management, Deal Structuring, Business Development, Marketing, Channel & Distribution Management, Sales Operations.

1 年

Great and insightful article, Ritesh Mohan retailritesh, thanks for sharing :-)

Anupama Parkar

Director | Marketing & Brand Expert | Author | Speaker | Certified Independent Director | Certified Strategy Coach | Toastmaster | Entrepreneur | Mentor

1 年

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