Weak marketing mix
Posted: Thu Jan 23, 2025 4:48 am
Classification of typical marketing mistakes when introducing a new product to the market:
miscalculations in product positioning;
erroneous determination of the optimal price;
incorrect decisions in sales formation;
ineffective advertising campaign;
design and packaging errors.
An example of a set of errors ig database was given to the world by the Coca-Cola Company when it introduced its orange juice concentrate to the Russian market. The main idea was that the product could be used in parts for more than a month. But the reality turned out to be evil: after conducting several market tests, the absolute non-competitiveness of the product was revealed due to the inflated price. The reason was the lack of emphasis in the advertising on the instructions for preparing the finished juice. As a result, the consumer simply did not understand why he should overpay. Thus, there was a mistake by the marketing department when developing an advertising campaign and a set of shortcomings related to the design and packaging.
Low quality in certain product categories
The concept of "Quality" at the present stage has become so comprehensive and complex that even very large companies with huge budgets for development and testing sometimes make mistakes and omissions. But the most unpleasant thing is if the flaws associated with the properties of the product are fundamental for potential consumers.
First, we need to understand what exactly is included in the definition of quality:
Get clients from the site every month
In a guaranteed volume
Read more
technical and economic characteristics (durability, reliability, functionality, etc.);
ergonomics (including aesthetic characteristics and hygienic requirements);
environmental parameters;
patent purity.
It is impossible to create anything perfect – it is not even worth trying. However, with the help of market testing, it is possible to focus on the most important properties from the consumer’s point of view and, by developing them, improve the quality of the product compared to competing analogues. The remaining parameters automatically become secondary, and even defects are acceptable there. The main thing is that there are no defects in those functional properties that influence the consumer’s decision to buy.
Incorrect timing of market entry
Often, due to poorly conducted market research, a new product goes on sale either too early (when the target audience has not yet matured the need) or too late (when competitors have already offered similar products). The first case is typical for high-tech products, when it is necessary to warm up the segment for a long time beforehand. The second situation usually occurs when introducing a product to new geographic markets.
Underinvestment in promotion due to financial planning errors
Often, an unplanned increase in the promotion budget is associated with growing merchandising costs. Large supermarkets have a range of 30-40 thousand items. At the same time, 10 to 30 new products appear on the shelves every day.
Unplanned budget growth
It is only natural that their producers compete with each other for the best places. Because of this rivalry, it is extremely difficult to plan the budget as a whole - it is necessary to finance on an "As is" basis (in Russian - on the fly).
miscalculations in product positioning;
erroneous determination of the optimal price;
incorrect decisions in sales formation;
ineffective advertising campaign;
design and packaging errors.
An example of a set of errors ig database was given to the world by the Coca-Cola Company when it introduced its orange juice concentrate to the Russian market. The main idea was that the product could be used in parts for more than a month. But the reality turned out to be evil: after conducting several market tests, the absolute non-competitiveness of the product was revealed due to the inflated price. The reason was the lack of emphasis in the advertising on the instructions for preparing the finished juice. As a result, the consumer simply did not understand why he should overpay. Thus, there was a mistake by the marketing department when developing an advertising campaign and a set of shortcomings related to the design and packaging.
Low quality in certain product categories
The concept of "Quality" at the present stage has become so comprehensive and complex that even very large companies with huge budgets for development and testing sometimes make mistakes and omissions. But the most unpleasant thing is if the flaws associated with the properties of the product are fundamental for potential consumers.
First, we need to understand what exactly is included in the definition of quality:
Get clients from the site every month
In a guaranteed volume
Read more
technical and economic characteristics (durability, reliability, functionality, etc.);
ergonomics (including aesthetic characteristics and hygienic requirements);
environmental parameters;
patent purity.
It is impossible to create anything perfect – it is not even worth trying. However, with the help of market testing, it is possible to focus on the most important properties from the consumer’s point of view and, by developing them, improve the quality of the product compared to competing analogues. The remaining parameters automatically become secondary, and even defects are acceptable there. The main thing is that there are no defects in those functional properties that influence the consumer’s decision to buy.
Incorrect timing of market entry
Often, due to poorly conducted market research, a new product goes on sale either too early (when the target audience has not yet matured the need) or too late (when competitors have already offered similar products). The first case is typical for high-tech products, when it is necessary to warm up the segment for a long time beforehand. The second situation usually occurs when introducing a product to new geographic markets.
Underinvestment in promotion due to financial planning errors
Often, an unplanned increase in the promotion budget is associated with growing merchandising costs. Large supermarkets have a range of 30-40 thousand items. At the same time, 10 to 30 new products appear on the shelves every day.
Unplanned budget growth
It is only natural that their producers compete with each other for the best places. Because of this rivalry, it is extremely difficult to plan the budget as a whole - it is necessary to finance on an "As is" basis (in Russian - on the fly).