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The Marketing Best Practices
Newsletter
More Info?
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New Product Marketing Plan
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There Are a Lot of Great Products Out
There: A New Product Marketing Plan Can Set Your Product Apart From
Others.
By:
Dan Schweihs
www.danschweihs.com
Emerson is often
quoted as having written: “Build a better mousetrap, and the world
will beat a path to your door.” I wish life was that way but it's
not. This sounds good but doesn't work. It is not "real world".
It's actually a misquote. Emerson actually wrote: "If a man has good
corn, or wood, or boards, or pigs, to sell ... you will find a broad
hard-beaten road to his house." That also sounds good but that
doesn't work either.
The Patent Office has issued over 4,400 mousetrap patents. If you go
to your local hardware store, I doubt you'll find more than ten
different types of mousetraps. Only the products with great marketing
make any money. Most computer programmers will tell you that
Microsoft does not have the best software. They have the best
new product marketing plan and that's why clients "beat a path to their door." Most
Internet users will tell you that AOL does not have the best Internet
service. They have the best new product marketing plan and that's why clients "beat a
path to their door."
It may be important to note that Emerson was a poet and not a
businessman. I believe Emerson died happy but I don’t think he ever
made a mousetrap, and I don’t think he ever made any serious money.
He just sounds good. Don't base the success or failure of your
business on the advice of a poet.
A great product is extremely important. There is much more to success
than just a great product. There are a lot of great products out
there. They have no value without customers. Think about all the
bankrupt companies with great products! In today's world of educated
customers with infinite choices, you need both a great product and
great marketing.
Things Start with Marketing
Accountants begin an income statement with the revenue line because
generating revenues is the most important thing a business does. Your
revenues (sales) are an indication of how much you are helping
people. The IRS defines a business without revenues as a hobby. The
size and the quality of your revenues will determine your ability to
survive and prosper. That is why you need a new product marketing plan. You need
high quality revenues and a lot of them.
Handwritten is great. Some of the best plans I've seen were written
on napkins. But write it down. Capture the idea. Writing down a
plan reduces some of the delusion, and delusion is your enemy.
Writing down a plan forces you to do the arithmetic. It also allows
you to sleep on the idea and decide if the numbers still work in the
morning.
A formal, organized business plan will be required if you're going to
show it to others. That's just expected today. Computers cannot
create an idea but they can help you capture your idea, print up your
new product marketing plan and present it
to others.
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