In
marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
, brand-new
product
Product may refer to:
Business
* Product (business), an item that serves as a solution to a specific consumer problem.
* Product (project management), a deliverable or set of deliverables that contribute to a business solution
Mathematics
* Produ ...
s or
services are created and promoted under a new
brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create an ...
. This is a
brand strategy
In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is pe ...
alongside the
brand stretching,
line extension
A product line extension is the use of an established product brand name for a new item in the same product category.
Overview
Line extensions occur when a company introduces additional items in the same product category under the same brand n ...
and
multi-brands strategies. The brand-new strategy is focused on creating and introducing new products effectively. It involves researching a
market
Market is a term used to describe concepts such as:
*Market (economics), system in which parties engage in transactions according to supply and demand
*Market economy
*Marketplace, a physical marketplace or public market
Geography
*Märket, an ...
to discover consumer needs that provide a
market opportunity
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, wea ...
, generating ideas on how to approach that opportunity, and
commercializing
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.
An early form of trade, barter, saw the direct exchan ...
a product by communicating how the product covers the needs.
Companies may introduce brand-new products that replace previous products as a leading function for marketing, instead of making small incremental improvements on existing products.
See also
*
As seen on TV
As seen on TV is a generic nameplate for products advertised on television in the United States for direct-response mail-order through a toll-free telephone number. ''As Seen on TV'' advertisements, known as infomercials, are usually 30-minute sho ...
*
Not sold in stores
Not sold in stores or not available in stores, also known as "TV only", is a marketing strategy whereby goods are heavily advertised on television or online and purchased directly from the supplier or manufacturer. The order is usually placed thr ...
References
Brand management
Communication design
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