Launch of New Products during Festive Season: Marketing Strategy
So, we have already entered the last quarter of the year, which is better known as the “festive season” in India. While people consider this time of year very auspicious to begin or buy new things, companies have their own benefits on the financial aspects. Launching new products during festive season is a surefire way to see a double (or even triple, sometimes) digit rise in the sales of these products.
This is a general trend in the Indian retail market to witness the most sales during the festive season. Sellers have been using this fact to their advantage by using sales, discounts and offers strategically to increase revenue. In addition, this is a great time for companies to build their brand in global market. On the other hand, consumers too wait for this time to avail maximum discounts and deals on their favorite product.
So, have a look at how you can make the most out of this festive season.
- Launch Attractive Ad Campaigns – Companies should create innovative ad campaigns during festivals like Dusshera and Deepawali that highlights their product as a means to celebrate the festivals. For instance, in 2014, the popular jewelry brand Tanishq launched an ad campaign targeting the mother-son bond showcasing the emotions of a son gifting a small pendant jewelry set to his mother for Diwali. The campaign targeted consumers who planned on spending on jewelry during Diwali.
- Craft Exclusive Deals and Discounts – Since people are interested in investing in new things during festivals, companies should utilize this opportunity to introduce attractive offers for increased sales. This could be in the form of discounts, buy-one get one free offer, and other service cut rates. You could also launch some combos and packages, etc. Come up with unique idea that creates the difference.
- Fund celebrations/events: Festivals in India are often celebrated by having gatherings with relatives and friends. You can use this opportunity and offer them a platform to enjoy their get-togethers. Plus, you can ensure that your company promotes its products through such platforms like organizing a host of contests, competitions during festive seasons.
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