HOW TO PLACE NEW PRODUCT AMONG EXISTING BRANDS

Question

Accepted Answer

To place a new product among existing brands, conduct market research, identify unique selling points, create a strong brand identity, and leverage existing customer base.

Conduct market research to identify gaps in the market and customer needs
Identify unique selling points and communicate them effectively through branding and marketing
Create a strong brand identity that differentiates the new product from existing brands
Leverage existing customer base by cross-selling and upselling
Offer promotions and incentives to encourage customers to try the new product
Monitor sales and customer feedback to make necessary adjustments
Examples: Apple launching the iPhone among existing smartphone brands, Coca-Cola launching Diet Coke among existing soft drink brands

HOW TO PLACE NEW PRODUCT AMONG EXISTING BRANDS

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