Question

Topic: Advertising/PR

Trying To Launch A New Product

Posted by Anonymous on 125 Points
My company is looking for help/how to launch a new product into our marketplace. Our product is a newly designed circuit breaker (UL Listed) used to replace millions of existing circuit breakers in residential applications. There is only 1 direct competitor who has basically 100% of the market now but has an inferior product, limited knowledge and is hard to do business with. We believe with the right strategy/launch we can capture 25-50% of the market within 6 months. We need people experienced in national campaigns, prefer electrical industry experience. Any advise or recommendations for people/agencies to use?
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RESPONSES

  • Posted by steven.alker on Accepted
    Dear Craig

    A few questions so that we can assist you better:

    Is this and over-current device and / or earth leakage (residual current) device?
    Is the target market domestic electricity users or commercial or both?
    What’s the technology?

    I used to be the sales manager of an electronics test company and also handled electromagnetic trips and amplifiers, so maybe I can throw some light on the information you are seeking.

    Best wishes

    Steve Alker
    Unimax Solutions

  • Posted on Author
    Steve,
    Thanks for the response. The breakers are actually residential 120/240v UL Listed improvements for the "Zinsco" type breakers in the residential market. The old breakers were bad design, etc and have been discontinued for some time yet the breakers and panels are still in service all across america. Our design is solid and we've also engineered GFCI and AFCI's (which never existed before) to meet 2008 arc fault requirements.
    The target market is initially to introduce to the large national electrical wholesale chains to resell to residential elec contractors, etc. We're also looking to get into the Lowe's, Home Depot's, etc of the US DIY market. We have all of the product knowledge and warehousing/delivery programs in place...we just need to get it out to the public efficiently and expediently.
  • Posted by steven.alker on Member
    Dear Craig

    Thanks for the info. Unless you are looking at a “replica” Zinsco model, then surely you are going to be competing with or replacing circuit breakers from:

    American Circuit Breakers
    Bryant Circuit Breakers
    Challenger Circuit Breakers
    Crouse Hinds Circuit Breakers
    Cutler Hammer Circuit Breakers
    Federal Pacific Circuit Breakers
    General Electric Circuit Breakers
    ITE Siemens Circuit Breakers
    Murray Circuit Breakers
    Square D Circuit Breakers
    Sylvania Circuit Breakers
    Thomas & Betts Circuit Breakers
    Wadsworth Circuit Breakers
    Westinghouse Circuit Breakers
    Zinsco Circuit Breakers

    The tech-spec aspects of this product in the USA appear to be constrained by the relevant legislation – yours might be faster, more stable, longer lived and have better operating current characteristics, but as far as the consumer or the electrical contractor is concerned, as long as it meets federal spec, its OK to use whatever is available.

    As said above, there are two prongs to this, or possibly three.

    One is to persuade the distributors of circuit breakers to stock and promote your product

    The second is to persuade the consumer that they ought to buy yours rather than one of the above manufacturers

    The third might be to persuade the electrical contractors to specify it.

    The last one is more likely to be won over by the tech-spec, the second by price and safety and the first by discount and collateral support.

    There is an enormous price range within the same apparently similar specification - $19 to $109 was the largest I came across for items which on paper, appeared to be compatible with each other. Whatever the advantages your product offers, you will have to spell out the benefits to fit with its pricing position and to promote the benefits – not the spec.

    Then there’s the re-furbished market. This seems to appeal on price and also on the fact that it offers pin-for-pin compatibility with older product. Can you at least offer the ability to fit into a standard setting?

    If you put “circuit breakers” into Google you get al awful lot of on-line stores which sell them, many of which have a presence in the Mall or the High Street. If you are serious about pursuing this, you are going to have to pick these guys off one by one – trying to do them all in some blanket move is a recipe for disaster! Each will need the relevant re-seller treatment – policies covering stock, discount, replacement, service, literature, tech-support and Uncle Tom Cobbley and All!(Extract from Widdecombe Fair – English folk music)

    When you have succeeded in setting up this distribution, I look forward to giving you advice on, “How to keep smiling as the distributor reads out a list of the last 48 things he thinks you got wrong” to you on your next sales support visit!!!

    You can pre-empt this to an extent by enacting positive channel management. Start off in “mutually beneficial” mode as you intend to carry on. Set plans and targets and be prepared to reward effort. Above all, get forecasts out of them and ensure that your CRM procedures with the channels are absolutely first class.

    Best wishes

    Steve Alker
    Sales Vision and Unimax Solutions

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