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Marketing and Startups
Before an idea can be converted into a product, the market needs, requirements and potentials must be researched and evaluated, the first task of Marketing. While the product is being developed based on market and user feedback, Marketing will develop the regulatory, reimbursement, clinical trials and marketing strategies, determine sales objectives and tactics, and create training programs and MarCom materials. Based on market introduction priorities, Marketing will establish a distribution network. The eventual product launch will be managed by Marketing. Marketing is an on-going process that oversees customer and public (press) relations, continuously updates promotional and training materials, identifies and reports encountered problems or needs, and recommends upgrades and changes to the product and in the Business Plan. In order to convert an innovation into a real product and eventually bring it to market, there is only one way to do so successfully: Marketing.
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Distributor Search and Evaluation.
The task to find the right distributor who is both interested and willing to take on a new product is an arduous job. To convince a distributor of the benefits to work with a new company and their new product is a big task that requires time and intense work.
Niche Marketing
Start-up, small and mid-sized companies have no choice than to identify niche markets for their products. It doesn’t make sense to successfully compete head-on with the big players and market leaders. Moreover, it will cost tremendous amounts of money, time and efforts. Hence the advent of “niche marketing.”
Good Presentations
People will judge you and your presentation based on your ability to communicate. Do not be shocked by the fact that an audience’s judgment is based on the following rule of thumb:
• 55% Body Language
• 38% Voice
• 7% Visuals & Content
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