At WiseGEEK, we're committed to delivering accurate, trustworthy information. Our expert-authored content is rigorously fact-checked and sourced from credible authorities. Discover how we uphold the highest standards in providing you with reliable knowledge.
Time marketing is considered one of the secrets of a successful marketing campaign. It is a simple concept that basically boils down to the study of when to release a new product on the market. Time marketing is often overlooked because of other marketing principles, but it frequently is utilized by many different industries.
Marketing, as a whole, is an inexact science. Time marketing is even less exact in some ways but more precise in others. There are no definitive studies advising what time of the year is the best to release certain products. Especially in the case of seasonal goods, there are common sense ways to know when to introduce a product.
Time marketing involves looking at an incredible amount of research to decide when to release a product. Many marketers will study statistics from past releases and the competition's releases to better understand the market demand during a certain time. Some industries also avoid releasing a similar product as the competition too closely, but other marketers will time their releases to deflate the competition's impact. Every product is different, and there are multiple factors that go into the timing of a release.
Time marketing is often overlooked in favor of the four basic principles of marketing. Known as the Four P's — Product, Placement, Promotion and Pricing — they receive the bulk of attention before an item hits the market. Focusing on these factors helps marketers focus on what will be sold, who the target audience is, where the item will be available and how much this audience is willing to pay for it. Without factoring timing into the mix, the hard work has a high chance of failing to reach its intended audience.
An example of successful time marketing would be a sunscreen company wanting to introduce an innovative new type of sun protection. The company can have its Four P's in order, knowing what the new product does, who will purchase it, where they will buy it and for how much, but if the timing isn't right, it could be a disaster. Releasing sun protection in the winter, when snow is on the ground, most likely would not lead to a successful release. Waiting until the beginning of summer, when beachgoers are stocking up on sunscreen, would increase that product's likelihood of success.