Essay on Product Launch Event Proposal
Number of words: 1597
Introduction
Product launch events can make a significant impact on the success of the specific product in the market. Launch of a product requires a strategic approach, which can help create awareness and attract more customers. The report explores ideas that can be used to launch a new product in the Canadian market. It is vital to understand how product launch events affect the penetration of a particular product. In essence, the paper focuses on three ideas that can help launch a new flavor of Pringles within the Canadian market (Mittal, 2017). New mystery Pringles are not available in the Canadian market, and its launch can attract more customers for the same.
Event Idea Description
Idea 1: Use of Celebrity personalities to launch the product in Ontario.
Celebrity personalities play a crucial role in attracting many people who could be potential customers. The essence of using celebrities in such events is to capture the attention of many followers of the personality (Mittal, 2017). The event can be named mystery Pringles day in a bid to make the public curious about the new product in the market. The event should be attended by most people within Ontario and others who can make it from other regions in Canada and the world. When launching a new product, some celebrities can be helpful as attaching the product to them makes more revenue. Individuals who love eating Pringles within the Ontario area will have the chance to meet manufactures for the same flavor. The event will be carried out on Saturday, February 8th, 2020, in the city of Ontario (Chung & Cho, 2017). Celebrities such as musicians and other sportsmen will be used to ensure that numerous followers attend the event. Strong personalities will attract more people and can convince many to purchase the new flavor in town, that is, mystery Pringles (Mittal, 2017). In the event of attracting huge crowds, the celebrity plays a significant role in capturing attention from customers within a specific locality. As such,0 use of celebrity personalities to launch a new product for the market is a helpful idea to marketers.
Idea 2: Offering of free samples for testing within Toronto, Canada
An event should be organized with a view of launching the new product within the Canadian market as far as Pringles flavors are involved. The second event can be named Mystery sample day to attract more people (Lin, Zhang & Tan, 2019). As a new flavor, many people who are addicted to Pringles will have the opportunity to test what they expect in the final product. In the event, many people will have known of the existing flavor, which helps in marketing the mystery Pringles flavor. Free samples are likely to attract huge traffic, which is essential for the event to be successful. The products can be issued to individuals who will attend the product launch vent scheduled for the 16th of February 2020 (Lin, Zhang & Tan, 2019). There is a huge potential in the market, especially for Toronto s a Canadian city. As such, there is a need to provide an opportunity for Pringles lovers to test the new flavor before proceeding to make a purchase. It is vital to note that many individuals within the market prefer to buy products that they are sure will excite them (Lin, Zhang & Tan, 2019). Products that use this approach in announcing their presence make a huge impact on the market, which makes it a necessary idea to provide a free sample testing event as a launch.
Idea 3: Create Awareness on the Existence of the Product
In most cases, customers purchase products that they are aware of their existence in the market. The Canadian consumer is fully aware of the same, making it necessary to inform the population of the new Pringles flavor in the country. It is through awareness creation that people know of the product and decides to buy it. The event will be held on the 23rd of February 2020 within Alberta (Calantone, Di Benedetto & Rubera, 2018). The vent will be named Pringles awareness day and will aim to capture the attention of all individuals in Alberta. It is necessary to have the vent on various social media platforms as a way of reaching a huge number of consumers. People from different parts of Canada and the world have a chance to attend the event. In the event, the new product flavor will be rolled out as a way of creating awareness. The Alberta town is best placed to hold such an event that aims to create awareness within the Canadian market (Gryc, 2017). Making the Canadian market aware of the existence of the mystery flavor is an idea that can help the product make an impact, especially in the new market.
Event Idea Evaluation
Idea screening is important to any business that wants to launch a new product in the market. Market screening encompasses identifying crucial information on a particular product with a view of objectively determining its price. The events organized target a specific group of consumers within the Canadian market (Lin, Zhang & Tan, 2019). Children who love Pringles will have the opportunity to purchase a new flavor. Many people will attend the first idea event in Ontario as people love Pringles within the city. In as much as people will be at work or weekend, many people will still manage to attend due to the love they have for Pringles. The second event in Toronto targets the same group of consumers in the Canadian market. The third event will have the same target group as the other two events and will b attended by locals (Shamout, 2016). Considering the marketing category, the second event idea is the most appropriate for the Canadian market.
On the operations screen, the second event idea is the best choice within the Canadian market. All three events can run on campus, and they have enough time for organizing events. Supplies that are required to be used as samples for the second event idea will be availed in time for the occasion (Shamout, 2016). Providing samples for the Canadian market is the best choice, having considered the three disposable event ideas.
On financial screening, there is a need to generate revenue that can be used in the three events or in any of them. The first event will need funds to pay celebrity personalities involved, which is an extra expense to be incurred (Gryc, 2017). Idea three is best suited having considering financial implications that are associated. It is the best since it does not attract higher launching costs as compared to the other two events.
Recommendation
The second event is the most appropriate and economical way to go when launching mystery Pringles. This is because customers will have the chance to taste the products before they can proceed to buy them (Gryc, 2017). The lunch might be expensive as samples are required for the market, but its efficiency makes it the best fit. Equally, the second event will provide an opportunity to learn where changes are required s far as the new product is concerned.
There is a need to develop SMART objectives that can see the event a success as intended. Such objectives must be specific, measurable, attainable, realistic and timely. Smart objectives guarantee one success in the field as they can assess their progress. Objectives for the winning idea event include:
- Offer samples to many people as possible within the Canadian market, especially within Toronto.
- Collecting feedback on the taste of the new flavor that is being launched.
- To inform the public of the existence of the new Mystery Pringles flavor in the Canadian market.
Conclusion
To sum it up, product launching requires one to conduct a campaign that can help create awareness of the new product. Each idea must be aligned with company values and expectations. Mystery Pringles can do quite well in Canada, given the right marketing strategies. Each strategy has a financial implication, which necessitates an evaluation to determine the best fit. Ideas that can be used during the launch in Canada include the use of celebrities during the launch to attract a huge following, creating awareness, and importantly, offering free samples for testing. The three ideas can be useful to a product launch, though, giving the public samples is the best fit for any business.
References
Calantone, R. J., Di Benedetto, A., & Rubera, G. (2018). Launch activities and timing in new product development. Journal of Global Scholars of Marketing Science, 28(1), 33-41.
Chung, S., & Cho, H. (2017). Fostering parasocial relationships with celebrities on social media: Implications for celebrity endorsement. Psychology & Marketing, 34(4), 481-495.
Gryc, M. J. (2017). Marketing strategy of launching new product on the market at COTY (Doctoral dissertation, Katedra Procesów Zarządzania).
Lin, Z., Zhang, Y., & Tan, Y. (2019). An empirical study of free product sampling and rating bias. Information Systems Research, 30(1), 260-275.
Mittal, M. (2017). Impact of Celebrity Endorsements on Advertisement Effectiveness & Purchase Decision Among Youths. International Journal of Marketing & Business Communication, 6(4).
Shamout, M. D. (2016). The impact of promotional tools on consumer buying behavior in retail market. International Journal of Business and Social Science, 7(1), 75-85.