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Planning
Positioning
Execution
Planning
A new product has been conceived, researched, tested in prototype
and made it through all the hurdles of the process. The time
has come to launch it in the marketplace. What happens now?
According to TEC new product development experts Mitch
Goozé and Nick Webb, the
seeds for the launch phase should be sown back at the very
beginning.
"In the most successful ventures, planning for the new
product launch starts along with preliminary design and development,"
Goozé says. "Positioning, sales channels and distribution,
advertising and public relations all need to be addressed
and should be given as much time and energy as the development
and design stage. Synchronizing marketing activities with
product development is critical for success."
Among the key components included in a strong product launch
plan:
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Clearly defined sales objectives |
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Assured sales channel readiness |
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Promotional functions in place (public
relations/marketing/advertising) |
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Resources to track, monitor and account
for execution |
"Launch projects often fail because companies don't
manufacture adequate quantities of the new product and make
them available to prospective customers," Webb says.
He suggests creating a launch team with responsibility for,
among other things, ensuring that all levels of the company
are prepared to handle demand for the product and to train
staff in its use for customer support.
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