Put on market refers to the act of introducing or making a product or service available for sale or distribution in the marketplace to potential buyers or consumers. It signifies the initiation of commercial activity where the goods or services are offered for purchase or consumption in order to generate revenue and reach a wider audience.
When a product is put on market, it implies that it has successfully completed the development and production stages. The item is ready for public consumption and is no longer confined to limited testing or prototyping phases. This stage entails various activities such as branding, marketing, packaging, and pricing, which are crucial to attract the attention and interest of potential customers.
Furthermore, when a product is put on market, it becomes part of the competitive landscape. It competes with other similar products or services in the same industry or market segment. Manufacturers, retailers, or service providers may employ different strategies to position their offerings favorably in the market, such as offering unique features, competitive pricing, or effective marketing campaigns.
Put on market can also refer to the action of legalizing or licensing a product or service to be sold within a specific jurisdiction or market. Certain products or services may require compliance with regulations, industry standards, or governmental approvals. Therefore, before they can be sold, they must undergo a process of meeting legal requirements necessary to be put on market.
In summary, put on market denotes the introduction or availability of a product or service for sale or distribution in the marketplace, encompassing a series of activities aimed at attracting customers and achieving commercial success.
