The relationship between advertising and enterprise new product development
Advertising promotes enterprises to engage in the development of new products and guides enterprises to engage in the development of new products. This is also the result of the information service function of advertising. When formulating advertising plans, systematic and careful market research and market analysis must be carried out. environment and market demands, and predict market change trends. Therefore, comprehensive market information can be collected during advertising activities. This information can indicate the direction of market demand and the current market needs for enterprises: thus providing information for the enterprise's new product development and development. The most successful example of the direction of research guidance in China's industry is: "Aoqi Anti-wrinkle Beauty Cream". Its development and production were based on the information provided by the market survey about the supply space of the cosmetics market for middle-aged and elderly women. In the end, the manufacturer has developed new products and put them into production. Through Heji's advertising activities, the products have extensive influence at home and abroad, allowing the company to quickly gain popularity.
At the same time, when conducting advertising activities, the market information collected can also provide guidance for companies to improve products in production or develop new functions. Today, the modern commodity market has a wide variety of products, complete categories, and product updates. Due to the competitive characteristics of the fast market, in order to adapt to market changes and enhance the company's ability to survive and compete in the market, individual industries must continuously develop new products while strengthening the revenue from existing products: "New function development. The relevant information obtained from the final investigation" can provide effective consulting services for the media industry's activities of modifying oral documents and developing new functions.
Advertising plays an important role in the company's new product development process, and there is a close relationship between the two:
1. Source of creativity: Advertising can be an important source of new product creativity. Through advertising activities, companies can collect consumer feedback and market demand information to provide inspiration and direction for new product development [1][2].
2. Market testing: In the trial marketing stage of new product development, advertising is an important tool to test market response. Companies can evaluate consumer acceptance of new products by controlling advertising [4].
3. Product promotion: Advertising is a key factor for new products to successfully enter the market. It can help:
- Increase awareness of new products
- Educate consumers on the features and benefits of new products
- Stimulate consumers’ desire to buy[3][4]
4. Brand building: Continuous advertising investment helps to establish the brand image of new products and enhance consumers’ trust and loyalty to products [5].
5. Competitive advantage: For new products entering the market early, advertising can help companies establish first-mover advantages. However, it is also important to note that latecomers may benefit from early advertising education [4].
6. Resource allocation: New product development and advertising require a lot of resources. Enterprises need to make a balance between product research and development and market promotion, and reasonably allocate funds and manpower [2][4].
7. Feedback loop: Advertising is not only a promotional tool, but also a channel for collecting market information. By analyzing advertising effects and consumer responses, companies can continuously improve products and provide a basis for the development of next-generation products [1][4].
8. Pricing strategy support: Advertising strategy is closely related to the pricing strategy of new products. For example, high-end pricing strategies (skimming pricing) usually require more advertising investment to support the high-value positioning of the product [4].
In short, advertising and new product development are complementary to each other. Effective advertising strategies can significantly improve the success rate of new products, and innovative product development provides rich materials for advertising creativity. Enterprises need to closely integrate the two to achieve the best results in new product development.