Introducing a New Product to the Market

For example, when introducing a new phone brand in the market, some of the things to consider will include positioning, segmenting and targeting as the most effective approaches that will lead to success in the long term. The paper focuses on the different strategies that an entrepreneur will have to implement to make the introduction of the new phone brand successful in the market. The product The new phone brand will compete against other established brand. The phone is affordable and has different features that will attract the young people. The camera is focused on obtaining the best photos and based on the current needs of the market, the camera has an important role to the users (Camilleri, 2018). The success of the phone brand will depend on how well the target reacts as per the expectations of the entrepreneur (Dowling, 2004).

Targeting will make it possible to identify the small group of customers who will purchase the product. Positioning, on the other hand, will focus on the organization's ability to meet the demands of the customers in the market. The phone product will have the characteristics that will benefit the customers. This will ensure that many become attracted to the products and services delivered by the entrepreneur. Consumers tend to have similar behaviors so that they purchase products at low prices but those that align with the quality they need for their different needs (Andaleeb, 2016). The use of the different strategies will make it possible to take care of the needs of the consumers. The pricing strategy will have to take into consideration the ability of the customers.