Launching a new product can be a delicate process. Like any other aspect of your business, it is all about targeting the right customers. GbBIS shows you the best customers to target for your new product.
There are many reasons to launch a new product: to satisfy a new need, to reach a new market, to keep up with changing technology…But take a lesson from companies of the past and stay true to your customer base. Looking at the brands Stella Artois, Starbucks, Lynx, and Pepsi, we can see a definite link between demographics and the success of new products.
The fan base for Stella, Lynx, and Pepsi has traditionally been male. However, several of their product launches have been geared towards women (Stella Artois Cidre, Lynx Body Spray for Her, Diet Pepsi’s skinny can). As it turns out, most of these female-focused products were met almost exclusively with negativity. Starbucks, on the other hand, has had a history of creating new products that align directly with their current customer demographics. Their products are almost unanimously met with positive responses.
Researches have come up with a few reasons why customer negativity towards new products occurs. A new demographic may not be engaged in a product that is traditionally geared towards a different demographic. Also, current customers that use a product may feel alienated by a new offering that is geared toward a different demographic. It appears that, if you are launching a new product, it will generate more positivity if you gear it towards your current customers than to a brand new demographic.
But to know the demographics of your current customers, you need the right data. GbBIS can help you discover current and new customers. Our up-to-date demographic data is available for every state, county, city, ZIP Code, or custom area in the US. We print demographic maps and provide web applications to help you target markets, evaluate business sites, and more.
Contact GbBIS today. We can give you valuable insights into your customers’ demographics, behaviors, and more.
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