Market For New Idea May Be Hidden

In new product marketing, many persons choose categories in order to compete with an ex-employer, fulfill a corporate need, or succeed where others have failed. It often is believed that the concept will be easier to sell to management if the target is a large, successful category. However, choosing...

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Bibliographic Details
Published in:Marketing news 1989-04, Vol.23 (8), p.10
Main Author: Schoenfeld, Gerald
Format: Article
Language:English
Subjects:
Consumers
Market potential
Marketing
Product development
Tests
Online Access:Get full text
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Summary:In new product marketing, many persons choose categories in order to compete with an ex-employer, fulfill a corporate need, or succeed where others have failed. It often is believed that the concept will be easier to sell to management if the target is a large, successful category. However, choosing a category for its size limits the search to "what is" rather than to "what can be." Instead of concentrating on the size of an existing category, marketers should concentrate on the category's potential. Concept work with consumers will help managers generate and evaluate hidden product categories that could have equally great potential for a firm's future. The best way to avoid letting good ideas slip away is to separate trial and use tests. If consumer response to trying the idea is good, marketers should be concerned with how often it will be used later. The marketer that alters a product formula to please consumers who will never buy it anyway is letting profitable ideas slip away.
ISSN:0025-3790