Importance of Development and Marketing of New Own-Brand Products: Case Study of BH d. o. o. and Its Brand GREENHEAT AUSTRIA
In a company’s operations, it quickly becomes clear that the development, introduction and marketing of new own-brand products in its sales assortment can be of vital importance and a great indicator of the company’s success.
Knowing the market and its needs, understanding and communicating with the end user, constantly developing new items with a touch of ecological (green) use, striving to connect all segments and departments within the company, as well as conducting critical and constructive dialogue between them, have proven to have a great impact on the success of a company’s new own-brand product introduction at all stages.
The development and marketing of own-brand products are very complex processes that directly or indirectly affect all the company’s activities, meaning they also affect all those activities of the company that are not directly involved in the development of new products.
The success of new own-brand products is also very important for motivating the company’s employees in all departments and positions, as everyone affects, in one way or another, the course and synergy of effects triggered by success, new products often being “responsible”, directly or indirectly, for a large part of a growing company’s profits; as a result, success is related to financial rewards and employee advancement.
A company can increase its chances of success by understanding the development and marketing process of its new own-brand products only by including their development in its corporate and marketing strategy.
The company must set clear goals for the expected sales and profits of the new product, analyze its resources, and know its weaknesses, business environment and target markets.
The development and marketing of new own-brand products include a series of phases that begin with the identification of an opportunity and end with commercialization or assessment of the situation after launching a new product on the market.
In this thesis, we studied the key points of development and marketing in the introduction of new own-brand products in the company’s product line, analyzed the needs and proved the necessity of performance indicators that can help companies get ahead of the competition.
We showed the most important points of a new own-brand product introduction and proved that the company BIOLES Horizont d.o.o. has developed comprehensive and logical solutions that undoubtedly influence the expansion of the company’s offer and its success both in the domestic and foreign markets.
Based on the theoretical and research work, we explained and defined the importance of the development and marketing of our company’s own-brand products, which in all respects give the company a key and very important added value.