Category: Market

What is a mania? It is defined as mental illness characterized by great excitement, euphoria, delusions and overactivity. In investing, this translates into investment decisions being driven by fear and greed without being tempered with analysis, reason or balance of risk and reward outcomes. The mania is usually running parallel with the business development of the product, but timing can sometimes run askew.

The late 90’s technology.com boom and today’s cryptocurrency boom are two examples of how a mania operates in real time. These two events will be highlighted with each stage in this article.

The Idea Stage

The first stage of a mania starts out with a great idea. The idea is not known to many people yet, but the potential for profits are huge. This is usually translated as unlimited profit, since “something like this has never been done before”. The internet was one such case. People using the paper systems of the time were skeptical as “how can the internet replace such a familiar and entrenched system?” The backbone of the idea begins to get built. This translated into the modems, servers, software and web sites needed to get the idea into something tangible. Investments in the idea stage start off lackluster and made by people “in the know”. In the case, it may be the visionaries and people working on the project.

In the cryptocurrency world, the same question is being asked: How can a piece of crypto code replace our monetary system, contract system and payment systems?

The Possibilities

The first web sites were crude, limited, slow and annoying. The skeptics would look at the words “information superhighway” that the visionaries were spouting and saying “how can this really be that useful?” The forgotten element here is that ideas start out at their worst, and then evolve into something better and better. This sometimes happens due to better technology, more scale and cheaper costs, better applications for the product in question, or more familiarity with the product combined with great marketing. On the investment side, the early adopters are getting in, but there is no euphoria and astronomical returns yet. In some cases, investments have made decent returns, but not enough to sway the masses into jumping in. This is analogous to the slow internet connections of the 1990’s, internet sites crashing or information being incorrect on search engines. In the cryptocurrency world, it is being witnessed by high mining costs for coins, slow transaction times and hacking or theft of accounts.

The Acceleration

Word starts to get out that this internet and “.com” is the hot new thing. The products and tangibility is being constructed, but due to the massive scale involved, the cost and time expended would be massive before everyone is using it. The investment aspect of the equation starts to get ahead of the business development since markets discount the potential of a business with the price of the investment. The euphoria is starting to materialize, but only among the early adopters. This is happening in the cryptocurrency world with the explosion of new “altcoins”, and the large media press that the space is getting.

The Euphoria

This stage is dominated by the parabolic returns and potential that the internet offers. Not much thought is given to the implementation or problems because “the returns are huge and I don’t want to miss out”. The words “irrational exuberance” and “mania” begin to become common as people are buying due to sheer greed. Downside risks and negativity and largely ignored. Symptoms of the mania include: Any company having.com in its name is red hot, analysis is thrown out the window in favour of optics, the investment knowledge is getting less and less apparent among new entrants, expectations for 10 or 100 bagger returns are common and few people actually know how the product works or does not work. This has played out in the cryptocurrency world with the stellar returns of late 2017 and the incidents of company shares popping hundreds of percentage points by using “blockchain” in their name. There are also “reverse takeover offers” where shell companies that are listed on an exchange but are dormant have their names changed to something involving blockchain, and the shares are suddenly actively traded.

The Crash and Burn

The business scene for the new product is changing, but not nearly as quickly as the investment scene is changing. Eventually, a switch in mindset appears and a huge selling spree begins. Volatility is massive, and many “weak hands” and wiped out of the market. Suddenly, analysis is being used again to justify that these companies have no value or are “overvalued”. The fear spreads and prices accelerate downward. Companies who do not have earnings and who are surviving on hype and future prospects are blown out. The incidents of fraud and scams increasing to take advantage of the greed are exposed, causing more fear and selling off of securities. The businesses who have the money are quietly investing in the new product, but the rate of progress slows down because the new product is “an ugly word” unless the profits are demonstrated convincingly. This is starting to happen in the cryptocurrency world with the folding of lending schemes using cryptocurrencies and higher incidents of the theft of coins. Some of the marginal coins are crashing in value due to their speculative nature.

The Survivors

In this stage, the investment landscape is charred with stories of losses and bad experiences. Meanwhile, the great idea is coming into tangibility and for businesses that use it, it is a boom. It starts becoming implemented in day to day activities. The product starts to become the standard and the visionaries are quoted in saying that “the information superhighway” is real. The average user notices an improvement in the product and it starts mass adoption. The businesses who had a real profit strategy take a hit during the crash and burn stage, but if they have the cash to survive, they make it to the next wave. This has not happened in the cryptocurrency world as of yet. The expected survivors are those that have a tangible business case and corporate backing – but it remains to be seen which companies and coins these will be.

The Next Wave – Business Catches Up to the Hype

In this stage, the new product is the standard and the profits are becoming obvious. The business case is now based on earnings and scale rather than the idea. A second investment wave appears starting with these survivors and extending to another early stage mania. The next stage was characterized by social media companies, search engines and online shopping which are all derivatives of the original product – the internet.

The Conclusion

Manias work in a pattern which plays out in a similar fashion over time. Once one recognizes the stages and the thinking process at each one, it becomes easier to understand what is going on and the investment decisions become clearer.

With only a dozen of malls surviving out of more than 200, I think the picture of Indian malls is fading gradually.

This is the scenario of the Indian Malls at present and I presume it will be enough for the readers to envisage what I am going to mention about in the next few pages.

It has been almost one decade of presence of shopping centres in India, as the first center appeared in late 90s – Ansal Plaza, New Delhi and since then the expansion really accelerated in 2002 – 2003. In the year 2008 – the year of economic slowdown, the development was less than expected and it is evident due to the fact that:

– 34 centres were opened (whereas 74 were planned for opening at the beginning of 2008)

– 8,050,000 square meter GLA (whereas 1,800,000 square meter was expected)

Besides the economic downturn, the problem also comes from the developers and retailers. In order to understand them better, a detailed study of the same is given below:

• Developers – The Greed for More

On one hand, it is good to see Indian developers investing and providing excellent infrastructure to the country which certainly enhances the overall image but on the other hand it is disappointing to see the blunders done by them for their own properties. Personally, I believe that a developer can accord to both Residential and Commercials at one time but when it comes to Shopping Centres (SC); they should not fire at their own feet!

The following attributes will give a brief idea of the mistakes done by the developers in past:

• Poor site selection:

Selecting a location without even analyzing about the primary catchment area is a mistake commonly seen. There are many instances in the country wherein erecting a mall at National Highways has been a failure.

• Vertical expansion:

This country has seen a lot of vacant malls with multiple floors. The ideal case is to have a shopping center with lesser number of floors no matter even if the size of the shopping center is small.

• Commercialization Issue:

Poor commercialization is like a house built on sand – it will fall down any day. The first objective should be to position anchor stores in their respective position and second is to attract the vanilla brands by using anchors as a tool. It is also important to note here that with a good floor plan and bad commercialization, things could still work but poor floor plan along with good commercialization may lead to irreversible changes.

• Lack of professional advice:

It is always better to take professional assistance before the commencement of project rather than after its completion, which undeniably reduces the scope of improvement as well as increases costs more.

• Design issues:

It is rightly said that easy plans normally work, the more complicated you make, the more difficult it becomes. There are many instances like: the strange floor plans – proving to be a hurdle for the shoppers, no sitting arrangements, unplanned tenant mix – not making a mall a destination, low quality local stores or kiosk and so on that is diluting the overall image of the project.

• Retailers – Irrational decisions

The slowdown of 2008 has been a great lesson to the Indian Retail companies; they call it lately as correction! Before the year 2008, the expansions had been enormous but now the buzz is “expanding but cautiously.” After reading the factors listed below, one can certainly say the retailers have burnt their fingers themselves:

• Juvenile expansion:

Before the downturn in 2008, the retailers used to expand frantically almost in every SC without giving much importance to factors like location, catchment analysis, long term vision, presence of the actual buyers, reputation of the developer and much more. These lead to problem of surfeit for which the retailers are still in distress.

• Sky -scraping commercials:

During this massive expansion, the retailers were at ease to pay high fixed rentals which resulted in high fixed operating cost. Equivalently, the slowdown had a direct impact on the turnover which landed retailers in a miserable condition. This resulted either in closing down of unprofitable stores or re-negotiations with the developers to reduce the rentals.

Thus, the term Revenue Sharing was introduced; convincing people of the fact it is a Win – Win model.

• Brand visibility was more important than store profitability:

The expansion (prior to year 2008) accelerated in the most imprudent manner considering the fact that brand visibility* is more important than store profitability leading to calamity for many!

*For retailers, the numbers of stores are directly proportionately to brand visibility whereas store profitability is the result of high turnover and low operating cost.

4. Poor store visibility:

In order to enhance brand visibility; more and more outlets were opened which lead to poor project (mall) and location (store) selection. This yielded in low turnover and wastage of enormous capital expenditure on every store. The selected locations were so poor that even with the best marketing and information tools; no one was aware about the existence of these stores.

Hence, it was a Win-Lose situation wherein; the developer was successful enough in leasing out his space but not the retailer!

The road ahead:

The coming year will have a lot of consolidation. The existing smaller or vacant malls will either be converted into commercials or will be acquired by the larger players. The commercialization strategy will improve as the developers have seen enough and have learned to reject the worst and select the best. The tagline “everybody is welcome” will no longer be entertained and the landlords will be more selective in case of tenant mix and assigning locations.

Conclusion:

To assimilate the above, complete and professional asset management services are required to assist the developers and to create a good balance between the customers, retailers and the owners. It is possible by correct succession of steps beginning from thorough market research till the designing of the property.

Considering the fact that Indian real estate market has high potential and long way to go; the current phase demands improvisation through professional consultancy and other allied services. It is the time to see how owners employ the best use of these services in future.

And if all this is incorporated, one can hope that Indian Malls can once again be on a path of glory.

Author: Amanpreet Singh Banga, Commercial Manager, Segece India, New Delhi, India

The disastrous consequences of the COVID-19 pandemic show no signs of easing as it continues unabated even after a year of its outbreak. This has affected consumer behaviour as people have become extra careful to practice proper hygiene and social distancing while shopping. With such preventive measures, people find it challenging to purchase groceries, medicines, and other necessary items in stores physically as there are good chances of public exposure to the virus. This has led to a dramatic change in the existing business climate as more and more people are choosing to shop online to avoid coming in direct contact with others. For businesses, it has never been so crucial to have an online shopping presence.

Here are the major benefits of shopping online for household items over conventional shopping for the consumers at large.

Greater Safety

With the COVID-19 pandemic still going strong, it makes sense to limit your and your family’s exposure outside to a minimum as a safety measure and reduce the chances of catching the virus. Make sure to order online any item which can be ordered from the safety of your home, unless it is an absolute necessity. Open your accounts in eCommerce sites, place your orders, and wait for your choice of items to arrive on your doorstep. Ensure sanitization of the items before bringing them inside for extra safety measures.

Comfort and Convenience

The biggest perk in shopping online is convenience. There is no need to wait for the shop assistant in helping you with your purchases or stand in a queue for billing. With online shopping, all your shopping is complete in minutes. All you need is a stable internet connection, a computer, and a mobile phone with you. Payment is pretty simplified as you can use debit or credit cards or else, opt for cash on delivery to settle the bill. Buying e-books is instant soon on completion of payment. You have the opportunity to shop online 24/7 in the privacy of your room while in your pyjamas.

Attractive Prices

Another advantage of purchasing online is better prices and cheap deals since the products come directly to you from the manufacturer or seller that cuts out the middleman. And as the customer base is wide, there are higher chances of companies offering discount coupons and rebates to attract more customers. Buyers also enjoy discounted purchases for bulk ordering. As no money is spent on transport to buy your items from physical stores, you are indeed saving a considerable sum with online shopping.

Wide Selection of Product

The choices available online are just amazing. You will be lost for choices from the several brands and products that are on display in one place. And you have the option to select from the latest international trends without requiring you to leave your doorstep. It is possible to shop directly from retailers based in another part of your country or world, and not just be limited by geography. There are hardly any matches for the wide selection of colours and sizes that are at your disposal than you can expect to find in local stores. You even have provisions to place an order of your items that are out of stock from online shops to be shipped to you when the stock becomes available.

Gifting Made Easy

Sending gifts to relatives and friends has never been so easy before, thanks to online shopping. There is no need for an excuse of distance preventing you from sending a gift on occasions like weddings, birthdays, Valentine’s Day, Father’s Day, Mother’s Day, and so forth.

More Discreet Purchases

When it comes to physical purchases from a store, it takes considerable time to find out more about a product by going through its review and ratings on your mobile phones. However, in online shopping, the customer ratings are already listed with every product displayed that makes it pretty easy to browse these ratings and find the top-rated items. It helps you in making discreet purchases. You also get the option to make a comparison of various prices offered by the stores and settle for the best deal. You not only save money but you are trained to be a smart shopper.

Forex risk management exactly is what it sounds like. It’s a way to manage Forex, and perform trades on the Forex marketplace that dramatically reduce the amount of money that is risked in the trade. The best traders simply know how to create the best Forex trading indicators based on past trades, future trades etc.

There are two types of indicators in simplified definitions:

Forex Technical Analysis – This is basically the study of the historical prices of the Forex marketplace and forecasting the future prices based on these old formulas – they create charts so that they can have a lowered amount of risk and sure fire trades that earn tons of money.

Forex Fundamental Analysis – This deals with more of the current economics with the place you are trading with Forex, macroeconomic conditions such as unemployment, budget, wars that are being fought, and even currency price included.

Both are hotly debated topics in which is the better one to use – but both can be used to further increase chances of profit and “increase proper risk management” so that you will not lose too much money on the Forex marketplace.

How an Automatic Forex System Can Reduce Risk

Automatic Forex systems can ultimately help you dramatically. How? It’s simple – they will use the first one, the Forex technical analysis of the prices in the past to help give you the best trades for tomorrow. It’s completely on auto-pilot – so a complete beginner can start trading on Forex for profit immediately!

It’s a great system that people are just now beginning to embrace as it can trade for people 24/7. It will help with your risk management, it will highly reduce your chances of losing tons of money through a Forex trade.

Also, by using a system – you will also have time to branch off into different paths and learn how to profit even bigger – while your system is trading for you (even if you’re a complete beginner); you can gain the knowledge and start trading yourself while the system is trading – increasing your profits exponentially!

Digital health is a new age platforms that deals with prime focus on consumer centric healthcare approach which results in efficient and quality healthcare at much lesser cost than traditional healthcare ecosystem. It is broad term that covers various aspects of healthcare ecosystem bind together with thread of digital mediums in order to provide most handy health care service with ease of access to all stakeholders. It covers various stakeholders of healthcare ecosystems such as healthcare provider, patients, payer, pharmaceutical companies and other new stakeholders such as information and technology companies. Overall digital health covers diagnosis, treatment, consultation and long term care services at economy of cost with greater access than old location based system of healthcare

Market Dynamics

Various combinations of factors makes the market for a lucrative. Larger number of population crossing age 60 and above worldwide leads to higher requirement of healthcare needs with more emphasis on long term care and chronic disease care. Developed markets such as U.S. and Europe are especially witnessing higher number of population 65 and above. According to the U.S. Census Bureau’s report of 2017, there were 47.8 million people aged 65 years and older in the U.S. in 2015 accounting for 14.9% of the total population, a 1.6 million increase from that in 2014. Europe is currently having highest 65 years and above age population which is 25% of entire population according to the Population Prospect Report of the United Nations published in 2017. Tele Care and Tele Medicine are important digital health platform for this population as they don’t have to take efforts of visiting physician in person. Another important factor for growth of the digital health market would be high technological penetration in the digital health domain. For instance, cloud based electronic medical record which could be shared amongst entire healthcare stakeholders would make entire health operation smooth and efficient.

Key features of the study:

• This report provides in-depth analysis of the market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year

• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market

• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategy adopted by the leading players

• It profiles leading players in the market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments and strategies, and future plans

• Key companies covered as a part of this study include Allscripts Health Solutions, Inc. McKesson Corporation, Cerner Corporation, Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Qualcomm Inc., Proteus Digital Health, Inc., Athenahealth, Inc., Cisco Systems

• Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics

• The market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the market

Get PDF Research Brochure for more Professional and Technical Insights: https://www.coherentmarketinsights.com/insight/request-pdf/1909

Detailed Segmentation:

• Global Market, By Technology Platform
  • Tele health
    • Tele Medicine

    • Tele Care

  • 
    mHealth
  • 
    Information Systems
    • EMR/HER

    • Clinical Decision Support System (CDSS)

    • Computerized Physician Order Entry (CPOE)

    • Others

  • 
    Diagnostic and Monitoring Devices
  • 
    Therapeutic Devices
    • Digital Medicine

    • Respiratory Therapy Devices

    • Insulin Pumps

    • Others

  • 
    Others

• 
  Global Market, By End Users
  • Business to Consumers

  • Business to Business

• 
  Global Market, By Geography
  • North America
    • By Technology Platform
      • Tele health
        • Tele Medicine

        • Tele Care

      • 
        mHealth
      • 
        Digital Health Information Systems
        • EMR/HER

        • Clinical Decision Support System (CDSS)

        • Computerized Physician Order Entry (CPOE)

        • Others

      • 
        Diagnostic and Monitoring Devices
      • 
        Therapeutic Devices
        • Digital Medicine

        • Respiratory Therapy Devices

        • Insulin Pumps

        • Others

      • 
        Others

    • 
      By End User:
      • Business to Consumers

      • Business to Business

    • 
      By Country:
      • U.S.

      • Canada

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Bangkok is no doubt one of the most interesting cities in the world. This huge metropolis is the gateway to Southeast Asia, and a complete assault on the senses. This is a place where you will feel truly alive, with traffic filled streets and busy street side vendors and markets, to a rich Buddhist culture with incredible temples and sights to see, along with great food and shopping. Bangkok is ever changing, and you could never get bored here. There is so much to do, but here are 10 of the best to get you started.

1. Grand Palace and Wat Phra Kaew (Temple of the Emerald Buddha)

Although it is no longer the actual residence of the Thai Royal Family, the Grand Palace is still the most important place in Bangkok and in fact all of Thailand. Situated right in the heart of Old Bangkok, the palace is a grand example of Thai architecture and a must see in the city.

Located within the grounds of the Grand Palace is Wat Phra Kaew – the most sacred temple in Thailand and a sight that absolutely should not be missed. The temple is home to the Emerald Buddha – the most sacred object in all of Thailand.

2. Wat Pho (Temple of the Reclining Buddha)

This old Buddhist temple is located close to the Grand Palace and is another must see temple in Bangkok. The most iconic part of this temple is its huge 45 metre long reclining Buddha that is covered in gold leaf with mother-of-pearl inlaid in its feet. The temple complex also has a lot of other interesting buildings and royal chedis to explore. Wat Pho is also the birthplace of traditional Thai Massage.

3. Wat Arun (Temple of Dawn)

Located on the banks of the Chao Phraya River, Wat Arun can be seen from miles away. It stands out for its tall and beautifully decorated prangs (towers) that are covered in intricate porcelain details. You can climb to the top of the tower for a great view across Bangkok, and the temple is most beautiful around sunset.

4. Boat ride on the Chao Phraya River

The Chao Phraya River winds its way right through the heart of Bangkok, and it is more than just a river – it is like a main highway, and also the best way to get around the city. Ferries and other boats run up and down the river all day and night, and it is a great way to see the city. Ferries are cheap, but you can also take boat rides and night time dinner cruises.

5. Floating markets

Bangkok is known as the “Venice of the East” due to its network of canals. A lot of Bangkok’s original canals have now disappeared, however the river and canal life still lives on in different parts of the city. One of the most popular attractions here are the floating markets, where vendors sell all kinds of things from their boats, right on the water! There are lots of different floating markets in Bangkok, most located on the outskirts of the city. You can take a boat tour of the canals and markets from central Bangkok.

6. Chatuchak Weekend Market

If you love shopping, you are going to LOVE Bangkok. It is a shopper’s heaven. You can literally get anything that you can think of. One of the best places to shop is Bangkok’s big weekend market – Chatuchack Market. It is possibly the largest open market in Thailand, and you can spend all day here getting lost among the isles and isles of stalls and still not see it all. You can get everything here from clothes, shoes, bags and household goods to fresh produce and souvenirs.

7. Wat Saket (Golden Mountain)

Another beautiful Buddhist temple, the highlight of Wat Saket is its manmade “mountain” that you can climb to the top of for amazing views of Bangkok. There is a huge golden chedi at the top, and the views can’t be beat.

8. MBK Shopping Mall

If you prefer the shopping mall experience to the markets, MBK is the best place to go. It is a mall, but it also acts as a huge indoor market, with the comfort of air conditioning. This shopping centre is right in the centre of Bangkok, and it is HUGE.

9. Chinatown

Bangkok’s Chinatown is located along Yowarat Road and is one of the best you will find. Here, you’ll find interesting markets and temples, and plenty of amazing food options.

10. Street Food

Bangkok is one of the greatest “food” cities in the world, and the best place to try authentic (and delicious) Thai food is right on the street. You’ll see little street side vendors and restaurants set up all over the city, particularly at night. Don’t be afraid to give it a go, especially if there are lots of locals eating there. Your tastebuds will love you for it.

These 10 things should keep you busy for your first visit to Bangkok, and should give you a great taste of this amazing city.

College students are notorious for being broke partiers who stay up all night playing video games while eating the bare minimum. Being in that stereotype I’ve learned to adapt. Controlling your money wisely is a very unique characteristic for being 22 and dumb. Although it has taken me some time to figure out how to completely manage my money it helps when you don’t go out for every meal. Eating out is a definite way to run you wallet dry and leave your stomach aching for more food when your pockets are empty. In order to keep yourself on track and eating somewhat healthy I have some advice to give.

1. Don’t eat out: We all know how easy it is to run over to Chipotle or McDonald’s and grab food when you don’t want to have to go out, buy the food, then come home and make it. But in reality, what would cost you $10 dollars at your local sandwich shop, really would cost you 5 dollars at a grocery store and you’d be able to make more than one meal with. For example, my girlfriend loves to go out to Noodles N Company and eat all the pasta her little heart can desire. But in actuality, I can go to Wal-Mart and buy the pasta and Alfredo sauce and maybe even some garlic bread for $4. This is the difference between a $16 dollar meal between the both of us, but now only 4 dollars.

2. Stay away from the sweets: So you’ve made it to the store, but now you actually have to know what to buy. While being on a budget you soon learn to realize what you can make two dinners for price-wise, you can get for one box of fruit roll-ups. These boxes are designed to attract your attention and have you grabbing a $7 box when you can be can $7 worth the meet and potatoes. I’m not preaching healthy, I’m preaching smart. In order to get the biggest bang for your buck buy food that’s going to fill you up for hours, not 20 minutes. Staying away from brand names also helps in the long run. Many grocery stores offer great value brand items which are significantly less than your average name brand product.

Though just two suggestions, the process of not eating out and staying away from the name brand sweets and etc. will leave you more time for weekend money rather than scraping any bit of food together just so you don’t have to mooch off your roommate.

If you are a B2B company and want to grow your business by adding new products to your existing product portfolio this article and my other related articles will help you. They describe how a 4P Marketing Strategy can help you produce a successful “product launch” plan for your chosen marketplace.

A marketing strategy based on the marketing 4P’s looks at four key marketing and sales areas that need to be considered when producing your product launch plan:

1. Product. How to choose the right product to sell?

2. Place. Where to find the customers who will buy it?

3. Promotion. How to “package” and promote your product?

4. Price. How to choose a sales price that’s acceptable and profitable?

I don’t intend to cover all of the 4P’s in this article. I am going to focus on the first one by providing some advice and guidance on “How to choose the right product to sell”.

Choosing the Right Product

If you already have a successful B2B business or you want to grow one quickly it’s important to be able to assess whether your new product will fit in with your current product portfolio and whether it will meet the requirements of your marketplace.

Looking at your product in the context of the 4P’s of marketing is an excellent way of doing this. I have used the 4P Marketing Strategy approach for many years when launching new products. It’s easy to understand and when used correctly it’s very effective.

To be confident that you’re taking the right product to the market place you must be able to answer the following questions:

– Will the product sell in your market place?

– Can it be sold profitably?

– What skills and experience do you need to sell it?

Will the product sell in your marketplace?

If you are considering taking on a new product from another company do some research first to establish whether the product has a good sales history and whether your existing customers are likely to buy it?

If the product isn’t being sold successfully elsewhere or is only being sold successfully by companies with a very different company profile from yours you need to make a realistic assessment of the extra marketing and sales costs that are likely to be incurred before your new product can become profitable. You also need to carry out some “consultative research” with your existing customers to find out whether they would buy your new product. If they wouldn’t, you need to understand why. (You may find that it’s necessary to talk to other contacts within the same company or consider approaching companies in different market sectors if the customers in your main market sectors indicate that they are unlikely to buy your new product).

Can it be sold profitably?

Make a list of all the things you’ll need to do to market and sell your product. Use this list to build a spreadsheet of your projected marketing, sales and administrative costs and compare these with your forecast sales for the new product. Use some simple calculations to work out how long it will take before your product becomes profitable.

Sometimes it makes sense to sell a product even if it doesn’t make a profit! If your new product is very complimentary to existing products in your product portfolio and can be used to boost sales of these products it could still be worthwhile selling it. It may eventually become profitable on its own, or prepare the ground for another similar product that will be profitable (e.g. one you develop yourself).

Take into consideration all the factors identified in your previous research and don’t forget to include some estimated costs for the effort and time that you and/or your work colleagues will need to put in to launch and sell your new product.

What skills and experience must you have to sell it?

If your product is a very different type of product from those you are currently selling you will need to get some additional help (staff or bought-in resources) with your marketing and selling. Alternatively you could acquire the knowledge and skills required to market and sell the product by buying in consultancy services and training.

Whichever of these two options you choose, until you have built up a good level of knowledge and skill you won’t do a very good job helping your customers understand what the product will do for them. Neither will you be able to support them well once they’ve decided to purchase it.

The Value of the 4P Marketing Strategy Assessment

The reason why the first step of the 4P Marketing Strategy approach is so important is that it will help you reject a product that might not become very profitable and provide you with information that you will be able to use to select an alternative product that will fill the same gap in your product portfolio much better.

There may be other questions that you need to get answers to in addition to those we have considered above, but if you can provide comprehensive and satisfactory answers to my three main questions you will be able to move forward and start working on the other P’s of your 4P Marketing Strategy.

I hope I have made it very clear that thorough research is very necessary at this stage. It’s very easy to decide to skip this research if you have been “bowled over” by an exciting new product that you want to start selling as soon as possible. But bear in mind that every new product you take on will distract you from other important marketing and sales tasks.

If your new product starts to sell well soon after it’s launched into your marketplace all your effort will seem worthwhile. You’ll soon be able to invest in additional resources and help to maximize the sales of your new product. However, if your new product turns out to be unprofitable or provides only a small profit you will have wasted a lot of time and money that could have been invested in marketing and selling your existing products.

In summary, a 4P Marketing Strategy will help you develop a detailed, solid plan for the launch of your new product and will also help you to feel confident that you have the right product to ensure that this plan will succeed.

This Report covers the Major Key Players information examination on Age-Related Macular Degeneration Drug market that incorporates Marketing income, net rate, benefit, and dissemination showcase and so on, a focused research that will find out about market contenders. This research report covers all the significant areas and nations around the world, that will think about territorial development rate(income) status, incorporates showcase estimate and the future gauge.

Company Coverage:

• Applied Genetic Technologies Corp
• Astellas Pharma Inc
• Benitec Biopharma Ltd
• Biokine Therapeutics Ltd
• Crinetics Pharmaceuticals Inc
• Critical Pharmaceuticals Ltd
• Daiichi Sankyo Company Ltd

Region Coverage:

• North America
• Europe
• China
• Japan
• Southeast Asia
• India

If you have any special requirements, please let us know and we will offer you the report as you need.

Reasons for Buying this Report:

• This report provides pin-point analysis for changing competitive dynamics
• It provides a forward looking perspective on different factors driving or restraining market growth
• It provides a six-year forecast assessed on the basis of how the market is predicted to grow
• It helps in understanding the key product segments and their future
• It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

Get the Sample Copy @ https://www.reporthive.com/enquiry.php?id=1557081&req_type=smpl

Table of Contents

Chapter 1: Age Related Macular Degeneration Drug Market Overview

Chapter 2: Global Economic Impact on Age Related Macular Degeneration Drug Industry

Chapter 3: Global Market Competition by Manufacturers

Chapter 4: Global Production, Revenue (Value) by Region (2013-2018)

Chapter 5: Global Supply (Production), Consumption, Export, Import by Regions (2013-2018)

Chapter 6: Global Production, Revenue (Value), Price Trend by Type

Chapter 7: Global Market Analysis by Application

TABLES AND FIGURES

Figure Picture

Figure Global Production Market Share

Figure Product Picture of Type I

Table Major Manufacturers of Type I

Figure Product Picture of Type II

Table Major Manufacturers of Type II

Figure Product Picture of Type III

Table Major Manufacturers of Type III

Table Consumption Market Share by Application

About Report Hive Research

Report Hive Research delivers strategic market research reports, statistical survey, and Industry analysis & forecast data on products & services, markets and companies. Our clientele ranges mix of global Business Leaders, Government Organizations, SME’s, Individual & Start-ups, Management Consulting Firms, and Universities etc. Our library of 600,000+ market reports covers industries like Chemical, Healthcare, IT, Telecom, Semiconductor, etc. in the USA, Europe Middle East, Africa, Asia Pacific. We help in business decision-making on aspects such as market entry strategies, market sizing, market share analysis, sales & revenue, technology trends, competitive analysis, product portfolio & application analysis etc.

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