The Importance of Development and Marketing of New Private Label Products – A Case Study of BH Company and the Greenheat Austria Brand

In business operations, it quickly becomes evident that the development, introduction of private label products into the sales assortment, and their marketing can be of key importance and a major indicator of company success. Knowledge of the market and its needs, understanding and dialogue with the end user, constant development of new articles with a touch of ecological (green) use of the latter, striving to connect all segments and departments within the company, and critical and constructive dialogue between them have demonstrably enormous impact on success in all phases of introducing a new private label product of the company.

Problem

In business operations, it quickly becomes evident that the development, introduction of private label products into the sales assortment, and their marketing can be of key importance and a major indicator of company success. Knowledge of the market and its needs, understanding and dialogue with the end user, constant development of new articles with a touch of ecological (green) use of the latter, striving to connect all segments and departments within the company, and critical and constructive dialogue between them have demonstrably enormous impact on success in all phases of introducing a new private label product of the company.

The development and marketing of private label products are very complex processes that affect all company activities directly or indirectly, meaning they also affect all those company activities that are not directly involved in the development of new products. The success of new private label products is also very important for encouragement and motivation amongst employees in the company across all departments and positions, as each individual in one way or another influences the course and synergy of effects that success triggers, since new products are often responsible, directly or indirectly, for a large portion of the profit that growing companies have, and consequently success is linked to financial rewards and employee advancement.

A company can always increase its chances of success by understanding the process of development and marketing of new private label products only by incorporating the development of new private label products into its corporate and market strategy. The development and marketing of new private label products therefore involves a series of phases that begin with the identification of an opportunity and end with commercialisation or assessment of the situation after launching a new product on the market.

Results

In the diploma thesis, all key points of the importance of development and marketing in the introduction of new private label products amongst the company's sales products were examined, and the needs were analysed and the necessity demonstrated in performance indicators that can elevate one company above others or ahead of the competition. The most important points of introducing a new private label product were presented and it was proven that BIOLES Horizont, d. o. o., created comprehensive and sensible solutions that undoubtedly influence the expansion of the company's offer and its successes both in the domestic and foreign markets.

Based on theoretical and research work, the importance of development and marketing of private label products was explained and defined, which in all respects give the company key and very important added value.