Collaboration versus delivering projects
A client came to us recently with a marketing challenge. It was obvious that the “new product development” department had been furiously busy coming up with great ideas. We talked about six new products, no less.
It would be easy to turn this into a big project. Perhaps many agencies would. For each product you could research the markets, analyze the competition, draft a market plan, develop concepts, logos, names, communication plan, etc. It could take months and would require a sizable budget.
But that’s not what the client wants.
They want an approach that is efficient, cost-effective and directs business energy towards the greatest opportunity.
Our proposal was simple: let’s work together and talk to the market to figure out the opportunities.
We’re going to prepare “usage statements” that the client can test during conversations with distributors, retailers and target customers. This way, we can learn about attitudes and opinions towards the products’ applications. During a later strategy meeting, we’ll use these “market conversations” to help us decide which products make sense and how we could position and market them.
So if you’re looking at launching new products there are a number of ways to go about it.
- The textbook/traditional method can be a very good approach and should be considered
- However, if it doesn’t fit, creativity and research need to be innovatively combined and customized to your business.
- Challenge your agency to come up with new ways to develop market strategies.