Development Marketing: How a Dream Turns into a Product

The buyer is not always satisfied with the products that are on the market. It could be better, he thinks (because there are always many unsatisfied hidden needs). And in this he is supported by developmental marketing, directing efforts to improve products and search for new solutions. It is he who creates products that have not yet been on the market.

Developmental marketing: the essence of processes

Residents of developed countries are quite self-sufficient. They have not only products to meet basic needs, but also more. And the market is oversaturated with offers. However, this does not mean that all needs are satisfied - the consumer always wants more. In this case, they pay attention to hidden needs and produce products for them. If you are interested in usa people search, follow the link to find out more.

The state of demand has led to the emergence of various types of marketing aimed at meeting needs. And developmental marketing  is a set of processes that are used for hidden or unmanifested demand, when there is a need, and the goods to satisfy it do not yet exist. Potential demand is transformed into real demand. The purpose of this type of marketing is to create a new product to meet needs. It is strongly connected with innovation.

Tasks of developmental marketing

This type of marketing has several tasks:

assessment of market potential;

estimation of hidden demand;

development of a relevant proposal;

implementation of an innovative product;

selection of optimal channels for promoting the product and informing consumers about it.

Unmanifested demand: examples

Every person has hidden needs. And usually they are aimed at creating a more comfortable life, and it does not matter if they are functional or emotional. A magic pill against aging and diseases, the ability to cover significant distances in an instant, a universal home robot assistant... However, manufacturers bring to life only commercially profitable products.

For example, consumers wanted to get richer-tasting products - that's how taste enhancers appeared. The desire to communicate using video calls led to the appearance of Skype. And the need for a comfortable microclimate in the house prompted the production of air conditioners. To learn more about free criminal background check, follow the link. 

Toolkit of developmental marketing

Marketers use the following approaches:

Analysis. Identify customer needs, as well as the market's readiness to accept a new product, analyzing the market, competitors and target audience. Regular surveys are good for this.

Development  of a marketing strategy. This is a road map that shows how and with the help of which resources to implement the idea into life.

Release of a trial batch and testing. To understand how successful the innovation is, it is necessary to involve a focus group in testing the innovation. It may need to be improved.

Production of an innovative product. Mass release is done only after comprehensive approval and assurance that the product meets the needs and will not fail at launch.

Launching an advertising campaign. Selection of those channels that will convey information about the new product to its target audience.