Reference no: EM132741056

There is 3 strategies to grow percentage of sales from new products

Use Content And Social Media Marketing To Your Advantage

There are so many more ways to get your product to your customers than ever before. What's the best part? They're all free. You can use social media such as Facebook, Twitter, and your blog to your advantage. By building relationships with your customers through

Pick The Right Price

Do market research on your competitors to determine the right price. If you have a high-priced product, be prepared to over-deliver quality to your customers. Price can be determined by "perceived value" of your product. If you can make your product seem superior to your competitors, you can charge a higher price.

Give Your Customers The Inside Scoop

If you are going to have a sale on your product soon, tell your customers about it. They will be happy to hear about it, and it will build trust with them. They may even buy more because of it.

ACTIVITY:

For each of the three strategies on above, provide the following details:  

- Priority 

- Timeframe 

- Responsible parties 

- Measurable performance indicators