There is nothing challenging in the marketing industry than launching a new product onboard the market which is already congested by similar alternative brands.
The main challenge under such case is to convince the customers of the already existing product to believe that the new product is better in various ways as compared to the one they are used to in order for the new product to penetrate the market and gain a reliable market share.
One thing that the product owners have to ensure is that; every customer who accepts the offer to try out the new product is very important to the future existence of the product and has to be hooked to the extent that he finds value in the product and remain with no reason to go back to the old product he/she is used to.
Here is where the quality of the product in question should be self-sustaining in the sense that; no matter how much it costs the company in production process, it leads to satisfaction to the first time customers.
I have been observing some products being launched with a bang. After the customers testing the product, they tend to fall in love with the product based on the quality of the brand in satisfying the needs of the users.
But wait! After a few times of using the same product, it would be observed that the quality of the product would diminish with the length of the time it has been on market and the gain in market share.
It is clear that some companies find it more convenient to employ this marketing secret, than spend more on endless product promotions trying to out-compete the already established alternative brands, leading to increase in product prices.
I didn’t realize it is just a marketing strategy when some companies (especially dairy product companies, cosmetics, soap etc) come up with brands that come onboard the market with high quality products, but only after a while, gaining the reliable market share, the quality of the product diminishes without notice.
After all, it would be considered a success when the product quality is reduced to the sustainable standard upon reaching the sustainable market share.
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Have you ever had any experience with a product that launched with high quality but subsequently lost quality over time?