PRICING: Pricing is a key parameter for consideration during new product launch.

Both extreme
of price points-low price and high price, have their own advantages and disadvantages. If prices
are kept low than firm losses the higher revenue possibility and create low value image for the
new product. If prices are kept high than we deny the possibility of product trial to a big
segment of consumers who cannot afford to buy the product. The nature of pricing strategy
depends on nature of market-price sensitive market or value sensitive market and nature of
product. Price of product should be kept in such a way that it should not only increase the
revenue for the company but also build the relationship with the consumers.

PRICING STRATEGIES:

 Market skimming pricing strategy: In the market skimming pricing strategy, initially
products are priced high to skim customer surplus in the initial phase of product life
cycle and later on pricing reduced to a normal level.
 Market penetration pricing strategy: In Market penetration pricing strategy, initially
product are sold at low price points to build market demand (penetrate the market) and
later on prices are revised to normal level.

PROMOTION: Promotional Events play a critical role for the success of a new product as it is
necessary to differentiate a company from others in market. Using of different promotional
channels to promote a product positively affect the customer purchasing behavior. Promotional
efforts may inform, educate and create interest in product initially during product launch. It
brings initial curiosity for product trial in consumers and thus, promotion plays a significant role
during new product.

TYPES OF PROMOTION:

 Advertising: Promotion of product can be done through different channels like

television advertising, FM advertising, web advertising etc. TV advertising is one of the
most effective customer engagement modes where viewer is concurrently and
psychologically immersed.
 Sales promotion: Sales promotion act as demand booster for the new products initially
and reduces the risk in initial stages of product introduction. Sales promotions can
initially bring the customers to new product but retaining customers depends on
product performance and firm relationship strategies. Sales promotions do not
guarantee the long term sustenance of sales momentum and its effect faded with time.
 Digital marketing: Digital marketing refers to a specific type of online promotion
strategy where you target audience herbal products to mass customers (B2C) or
businesses (B2B) rather than individual customers. While there is a huge difference
between doing digital marketing of ayurvedic product business than other business this
is because here you are selling a physical product like an eCommerce website. 
 Advantages:

 Accessible at any location

 Reduce infrastructure cost
 Eliminate manpower cost
 Increase business sale
 Save time and money
 Immediate order execution

PRODUCT:  Product availability and distribution creates push and pull strategy for product.
Improved product availability increases the chances of product reaching to more number of
customers and it leads to more market share. More market share means more number of
consumers demands and more product demand means need of more product availability. Thus,
product availability and market share have direct relationship with each other.  Product launch
decisions can be classified in two types,
 Tactical launch decisions: Tactical launch decisions are central to the actual product
availability in the market which covers the traditional elements of the marketing mix i.e.
Product, Price, Promotion and Distribution
 Strategic decisions: Strategic launch decisions are those that are taken before the
physical development of the product.

PLACE: Products can be sold through online ways and offline ways.
Sell Ayurvedic Products Online:
You can sell ayurvedic products online through your own website/app or through already
existing online B2C portals like Amazon, Flipcart, Healthcart etc.

Selling through already existing portals are good way to start selling own ayurvedic products
online. These portals have huge traffic and customers. You can set-up your seller account at
these portals at easy steps and can start selling ayurvedic products online.

Sell Ayurvedic Products Offline:

These are the tradition method and widely used for selling ayurvedic products. Few offline
methods of selling ayurvedic products are:

 Prescription Marketing
 Distribution through retailers, chemist and pharmacies
 Ayurvedic Franchise Business
 Door to Door marketing
 Direct selling / MLM marketing
 Tele-marketing
 Counter selling outside Yoga classic or park or crowded places
 Ayurvedic Medical Store (Retail counter at good location)