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Any business aims at making profit in the long run. So, when launching a new product the goal is to establish it the market by which can be done only by building product awareness among the consumers. Once the product is well known A & C can be achieved with less effort.
Awareness and availability has limited perspective in product launch. Only when consumer picks up, uses it or consumes the product, there is a hope for repeat buys. New product is not short term strategy, but a long term category or brand strategy. Hence all the above is essential with judicious use of financial resources, as at this stage investment is very high and return very low.
At the introductory stage of the product our focus is to create awareness among the customers. So our objective of our marketing mix would be to create maximum awareness. At this stage expenses are high and profits are low.
B. Build product awareness.
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