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New Product?
9/28/2011 11:42:31 AM
What are the pros and cons of showing the prototype for a new product that is a few months away from production vs not advertising at all until there is product on the shel for immediate shipping?
I see a common complaint against gun companies that display a new product at the Shot Show etc. then take months and years to bring product to market. I'm concerned about advertising too early and then unplanned/out of my control situations occuring that slow production.
I have noticed gun buyers tend to be spur of the moment shoppers on new products. Went through this with one product that I was never able to bring to production. Prototype stolen, unable to license the product, mfr license issues, partner drug his feet on releasing blueprints etc.
Advertise early or wait till ready to sell?
I see a common complaint against gun companies that display a new product at the Shot Show etc. then take months and years to bring product to market. I'm concerned about advertising too early and then unplanned/out of my control situations occuring that slow production.
I have noticed gun buyers tend to be spur of the moment shoppers on new products. Went through this with one product that I was never able to bring to production. Prototype stolen, unable to license the product, mfr license issues, partner drug his feet on releasing blueprints etc.
Advertise early or wait till ready to sell?
9/28/2011 12:07:52 PM
Originally Posted By TANGOCHASER:
What are the pros and cons of showing the prototype for a new product that is a few months away from production vs not advertising at all until there is product on the shel for immediate shipping?
I see a common complaint against gun companies that display a new product at the Shot Show etc. then take months and years to bring product to market. I'm concerned about advertising too early and then unplanned/out of my control situations occuring that slow production.
I have noticed gun buyers tend to be spur of the moment shoppers on new products. Went through this with one product that I was never able to bring to production. Prototype stolen, unable to license the product, mfr license issues, partner drug his feet on releasing blueprints etc.
Advertise early or wait till ready to sell?
What are the pros and cons of showing the prototype for a new product that is a few months away from production vs not advertising at all until there is product on the shel for immediate shipping?
I see a common complaint against gun companies that display a new product at the Shot Show etc. then take months and years to bring product to market. I'm concerned about advertising too early and then unplanned/out of my control situations occuring that slow production.
I have noticed gun buyers tend to be spur of the moment shoppers on new products. Went through this with one product that I was never able to bring to production. Prototype stolen, unable to license the product, mfr license issues, partner drug his feet on releasing blueprints etc.
Advertise early or wait till ready to sell?
Why not both?
Tightly control any press release or demo and be sure that "PROTOTYPE UNDER DEVELOPEMENT" is easily noticed with all media.
A side benefit would be that preorders can pay for final product developement.
-my $.02
9/28/2011 12:24:07 PM
I've watched preorders put companys out of business when some of the issues I mentioned developed prior to production runs. Not needed as my overhead is relatively low.
9/29/2011 8:50:06 PM
Originally Posted By TANGOCHASER:
I've watched preorders put companys out of business when some of the issues I mentioned developed prior to production runs. Not needed as my overhead is relatively low.
I've watched preorders put companys out of business when some of the issues I mentioned developed prior to production runs. Not needed as my overhead is relatively low.
I work in the automotive aftermarket and watch companies get bit time and time again because they start running their mouths too soon. Product development and production never goes as planned. We allow a small amount of information to be "leaked" once we know that we are within a week or two of having product ready to ship so that there will be some buzz but other than that we stay tight lipped.
9/30/2011 12:05:15 PM
Just so it's not another Shrike fiasco... 
I'd think 2-3 weeks at most.
I'd think 2-3 weeks at most.
9/30/2011 5:56:04 PM
Thanks for the feed back. The Shrike type incedent is what I am trying to avoid.
10/3/2011 3:14:05 PM
It depends on the product, and how you sell it. Is it a major purchase, or an impulse buy? Are you selling direct or through retailers?
A Iphone for example, can benefit from hype long before the product is launched. It builds demand before the release date, and prevents consumers from committing to a competitor's product before it's launched. You're probably not going to buy an Iphone if you bought the latest Android a month before the Iphone release date. Advertising a new phone 6 months in advance gets consumers to start waiting and looking for your phone instead of a competitor's. That's one of the benefits gun companies get by advertising before products are available to ship.
By comparison, a new Iphone cover, you're probably wasting your time by advertising before it's to market. Customers won't care enough to build any market buzz, and won't remember anything about it by the time it's released.
A Iphone for example, can benefit from hype long before the product is launched. It builds demand before the release date, and prevents consumers from committing to a competitor's product before it's launched. You're probably not going to buy an Iphone if you bought the latest Android a month before the Iphone release date. Advertising a new phone 6 months in advance gets consumers to start waiting and looking for your phone instead of a competitor's. That's one of the benefits gun companies get by advertising before products are available to ship.
By comparison, a new Iphone cover, you're probably wasting your time by advertising before it's to market. Customers won't care enough to build any market buzz, and won't remember anything about it by the time it's released.
10/3/2011 6:06:39 PM
Product is a support product for a niche market and I suspect most purchases will be impulse buys initially. I hope the quality and uniqueness of the product is spread by word of mouth. I know hope is not a course of action but I can't do overt market research without identifying the product. Most of the market research I've done consists of monitoring websites devoted to the product being supported and watching for competing products
Currently there are no competing products. We'll see how long that lasts or if someone beats me to the punch.
Currently there are no competing products. We'll see how long that lasts or if someone beats me to the punch.
