In most of the successful ventures, planning for the new product launch starts with a lot of research, design and development. Sales, marketing, positioning, advertising and public relations are to be addressed and should be given as much energy and time as the design and development. Coordinating with marketing activities along with product design and development is also the vital for success.
The key components in the strong product launch are-
1. Clearly mentioned sales objectives
2. Assuring sales channels readiness
3. Promotional functions working together
4. Track, monitor and account the resources for execution.
Positioning is not about placing the product with features and specifications, but is the core message that differentiates from the other products. An exclusive product identity reinforce the market’s perception of your product and in turn strengthens your company’s overall position.
There are certain milestones to make sure that everyone is working for the same goal are-
1. Have you identified all the launch channels?
2. How many products do you want to sell on a specific day?
3. When is the product going to launch for a national trade?
4. Do you have sufficient stocking orders with main distributors?
5. How can you grow the product in to 5-10% market entrenchment?
Break down every possible launch component. Send some new product samples to industry, trade publication and magazine reviews. Do everything for a strong, functioning life-support system for the new product.
The core benefits should be repeated again and again in the marketplace to get some identity for the new product. While introducing a new product, you need to assess its fit with the existing channels.
Want assistance in new product launches then; contact the team of Shriyans Management Consultants P Ltd, who can assist you. They can be reached at shriyansmc@gmail.com.
The key components in the strong product launch are-1. Clearly mentioned sales objectives
2. Assuring sales channels readiness
3. Promotional functions working together
4. Track, monitor and account the resources for execution.
Positioning is not about placing the product with features and specifications, but is the core message that differentiates from the other products. An exclusive product identity reinforce the market’s perception of your product and in turn strengthens your company’s overall position.
There are certain milestones to make sure that everyone is working for the same goal are-
1. Have you identified all the launch channels?
2. How many products do you want to sell on a specific day?
3. When is the product going to launch for a national trade?
4. Do you have sufficient stocking orders with main distributors?
5. How can you grow the product in to 5-10% market entrenchment?
Break down every possible launch component. Send some new product samples to industry, trade publication and magazine reviews. Do everything for a strong, functioning life-support system for the new product.
The core benefits should be repeated again and again in the marketplace to get some identity for the new product. While introducing a new product, you need to assess its fit with the existing channels.
Want assistance in new product launches then; contact the team of Shriyans Management Consultants P Ltd, who can assist you. They can be reached at shriyansmc@gmail.com.
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