How to design & launch a new product to market during a recession?
Launching a new product Mid recession.. How to go about it…
Sometimes you can’t wait so strategy is everything.
What you really need to know for whether you can right now is how strong is your product + marketing capability with tighter restraints.
Main thing, don’t cut corners on either, just to get it into market.
If your budget can’t deliver, it may be a signal to pause because both have to deliver.
But…if your team has the guts, workmanship, & discipline in the right areas, you can get your product to market looking right, on brand, & ready for your customer.. in a recession.
Market research & strategy
• Is your product a need or a nice-to-have? Be realistic so you know what benchmark to work to.
• How price-sensitive is your customer really? How small does this market become when many are pushed down a tier.
• Understand your product costs & risks – development, production, & launch.
• Talk to customers & stakeholders – learn what triggers them to buy with less $.
• Review the market – watch for changes & small opportunity gems.
Market entry
While it can feel gung-ho at the start, a clear plan keeps rollout steady & builds momentum in the right-sized steps.
• Build customer awareness during development? It opens IP risk but get artful.
• Instead of expensive PR, collaborate creatively with retail partners - take control.
• Retailers: reduce risk with smaller orders or consignment while staying margin-flexible & protecting your brand - make deals that don’t cost, but tie them in.
• B2B: offer value they can’t ignore with smaller orders, added services, or flexible terms so they can do business still.
• Direct-to-customer: bring them on the journey, stay connected without oversaturating. Adoption may be slow, but something new can drive sales of existing products.
journal helps founders & businesses design, prototype, & prepare products for market, even in tough climates.
If you’re looking to bring a product to life but aren’t sure where to start, or need a hand with design, get in touch. We can sit down, give you a ballpark on your idea, & map out realistic steps to get it moving.
journal is also an IRD-approved R&D provider ; keeps you more cash for development by the NZ Govt
