- 01 Feasibility Assessment
- 02 Comparative Product Research
- 03 Invention & Patent Prior Art Search
- 04 Design Prior Art Search
- 05 Trade Mark Prior Art Search
- 06 Product Pricing (W/S & RRP)
- 07 Market Research & Validation
- 08 Targeted Marketing
- 09 Sketch, Draw & Illustrate (2D & 3D)
- 10 Make, Model, Mock Up
- 11 Industrial Design & Development
- 12 Sample or Prototype
- 13 Develop Specifications
- 14 Grants, Awards & Tenders
08 Targeted Marketing
Targeted Marketing is where we provide you a cost effective service in researching and identifying targeted distribution channels both online and offline, including distributors, wholesalers, agents and retailers. This service ultimately tries to develop that important first ‘round of business development’ that establishes your innovative new product with preferably larger volume channels rather than one-off-single sale channels, i.e. small independent shop outlets.
The main benefit from this type of Targeted Marketing service is that we speak directly with ‘decision makers’ within the targeted organisations such as company Directors, National Senior Purchasing Managers and Product Buyers on regular basis and know what and how they want to see innovative new product ideas, and how they operate in terms of seeking samples, trialling and ordering, which saves you time, effort and costs in trying to achieve the same.
We provide Clients a professional way of contacting and pitching their innovation to carefully researched organisations that may be interested in licensing, buying and or selling your innovation through their physical or online distribution channels within Australia and internationally. This critically important process will basically decide whether your new innovation is wanted or not!
Typically we research 10 to 12 target organisations that are assessed as being the bigger and most preferred organisations in your target market, then approach them to survey and assess for their level of interest in using, buying or selling your new innovation. Any less than these numbers we tend to not get the statistical significance we would like, however if your budget can’t stretch, then we can reduce the proposed number of targets down to say 5, 6 and 7 organisations, which can still reap rewards.
This Targeted Marketing provides Clients ‘live’ primary information and data (Qualitative and Quantitative) on important data such as fit with targeted organisation, possible RRPs, volumes, competition and whether they ultimately ‘want’ your innovative new product idea.
Importantly, those targeted organisations that end up liking your new innovation, more than likely come to some arrangement with you to either license or distribute your product, so this service doubles up as a fact finder and distributor identifier at the same time.
All qualitative and quantitative information received is recorded and compiled into a detailed report. Typically coming out of this marketing exercise is the need to supply samples, have further meetings and/or establish sales or distribution agreements for your new product idea.
In summary we:
- Research and develop target list to contact of potential wholesale and retail buyers both on and off line;
- Develop marketing pitch;
- Commence primary market research to ‘agreed’ target list;
- Forward ‘hot leads’ coming out of primary market research to you for immediate follow up, i.e. forward sample or have meeting etc;
- Produce ‘detailed report’ on collected primary qualitative and quantitative feedback; and
- Assist you to act on findings in report.
Other activities such as the following may or may not be needed, however if required they would be done as separate activities and associated fees:
- Assist you to develop a brochure for this service;
- Product pricing research to establish wholesale and recommended retail pricing for national and international markets, which might include ‘volume savings and discounts’ and ‘pricing incentives’; or
- Developing and using a Confidentiality Agreement.
Further, we typically obtain between 20% to 70% of those companies contacted wanting to go to next stage of sampling your product, meeting with you or wanting a trial order. These percentage penetrations as you can appreciate vary depending on the type of new innovative idea and the market environment at the time of carrying out this direct marketing service. However, this is the only formal Targeted Marketing service available in Australia whereby the two outcomes of ‘feedback’ and ‘real leads’ is achieved, so why not call us now and get us to develop your business!
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