What Does Product Introduction Mean?
Product introduction is a business process through which a new product is launched, debuted or published in the market for general users and or businesses.
The product introduction process is executed mainly by the sales and marketing division of an organization, and is applied when a product is completely authorized and tested to be used by its end users or customers. In the tech world, the introduction of a new product can generate a lot of buzz, especially if the product is cutting edge. Marketers often bank on generating this kind of consumer response to help sell their product.
Product introduction may also be called a product launch.
Techopedia Explains Product Introduction
Product introduction is primarily a marketing approach and is a planned initiative to make a product available to specific market segments. Depending on the nature of the product, market dynamics, regulatory requirements and other economic and social constraints, the product introduction process can vary.
For example, a software development company may introduce a new product through a beta version before launching the complete solution. This allows the company to gain valuable user feedback, and to fix bugs and errors before the complete launch.