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Seeking Opinions - Using your prospective brand during market engagement

Brian A

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jul 18, 2017
6
6
16
54
Tempe, AZ
I have a product I have developed and packaged. I will be ready this week to do initial trial sales on eBay and Etsy, seeking echos. I have had this product rolling around in my brain for two years, and have developed a pretty comprehensive brand strategy (down to the labels) while I was action faking. This was prior to reading MJs books, which got me moving.

The question I keep waffling on is: Should I apply the brand to the market test, or post the products unbranded?

My uncertainty is on the pro/con. If it is right on target, the brand is immediately on the 'good' side. Unfortunately the converse is also true. Any advice is appreciated.
 

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Terry Jensen

New Contributor
Sep 17, 2017
4
5
14
Redding, CA
I have a product I have developed and packaged. I will be ready this week to do initial trial sales on eBay and Etsy, seeking echos. I have had this product rolling around in my brain for two years, and have developed a pretty comprehensive brand strategy (down to the labels) while I was action faking. This was prior to reading MJs books, which got me moving.

The question I keep waffling on is: Should I apply the brand to the market test, or post the products unbranded?

My uncertainty is on the pro/con. If it is right on target, the brand is immediately on the 'good' side. Unfortunately the converse is also true. Any advice is appreciated.

Brian...

First off, I wish you good luck and fortune with your new venture. From a marketing standpoint, it is always best to take your idea directly to the people. If you have an audience for this product already, I would suggest test marketing it (with branding and the whole shebang) to a focus group. Be sure to collect as much data (feedback) as possible regarding pricing, usefulness, packaging, availability, etc.

The consumer will tell you what you want to know. If there is good news or bad news - don't worry! It is not too late to make small changes along the way.

Look at it this way... Coca-Cola, the number one beverage company in the world, rebranded their tried-and-true flagship formula in 1985. It is widely regarded as one of the worst marketing blunders in modern history. But guess what happened? They back-pedaled, rebranded the original formula as 'Coca-Cola Classic' and the rest, my friend, is history. They regained marketshare over Pepsi who was hot on their tails for years, and preserved the goodwill in an iconic brand.

The point is, you cannot be scared to make some mistakes. That's how you learn what works. I'm not saying to launch a $10 million ad campaign for the new product, but you can sure as hell launch a few $1000 campaigns along the way on your $10 million journey.

Good luck!

Terry Jensen
BridgeHouse Marketing
 

Brian A

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jul 18, 2017
6
6
16
54
Tempe, AZ
Brian...

First off, I wish you good luck and fortune with your new venture. From a marketing standpoint, it is always best to take your idea directly to the people. If you have an audience for this product already, I would suggest test marketing it (with branding and the whole shebang) to a focus group. Be sure to collect as much data (feedback) as possible regarding pricing, usefulness, packaging, availability, etc.

The consumer will tell you what you want to know. If there is good news or bad news - don't worry! It is not too late to make small changes along the way.

Look at it this way... Coca-Cola, the number one beverage company in the world, rebranded their tried-and-true flagship formula in 1985. It is widely regarded as one of the worst marketing blunders in modern history. But guess what happened? They back-pedaled, rebranded the original formula as 'Coca-Cola Classic' and the rest, my friend, is history. They regained marketshare over Pepsi who was hot on their tails for years, and preserved the goodwill in an iconic brand.

The point is, you cannot be scared to make some mistakes. That's how you learn what works. I'm not saying to launch a $10 million ad campaign for the new product, but you can sure as hell launch a few $1000 campaigns along the way on your $10 million journey.

Good luck!

Terry Jensen
BridgeHouse Marketing

Thanks Terry! I'm going to take your advice and go for it!
 

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