A Mini-Guide to Product LaunchesHow to launch your product Kaye Marks
June 11, 2008
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Launching a new product is one of the most crucial events in a
company’s history. Each product launch needs to go well in order for
that product to succeed in the marketplace.
New products can be
directed toward your already existing target market, or you can go
after a new market. Every time you launch a product, you need to try to
do something different that you have not done before or your launch may
get lost in the midst of a hundred other launches by your competitors.
A
launch can be a one-time large-scale event, but to be even more
successful, you should try to incorporate many follow-ups after the big
event. Here are some general guidelines to help you get through the
launch process:
Front-end activities
Before you do anything,
you need to conduct some research. You need to find out the validity of
your product and how it fits in the market, the features you should
promote, packaging and pricing considerations, and so on. When
researching, think not only about the launch, but also about the life
of the product – what will you need down the road one year from now to
keep the product vital to the market? Here is a brief list of what you
need to research:
• Your competition
• Prospects’ buying attitudes and purchasing influences
• Demand for your product
• Technological issues (now and in the future – will your product be obsolete in a few years.)
• Key benefits to inform your potential customers about
• Packaging options
Choosing the right launching campaign
You
need to choose a good theme and message that focuses on your product’s
benefits. You need to balance creativity with the thought that this
launch campaign could make or break your new product. It is dangerous
to attempt to be clever or funny because if some people do not get it,
you will lose that market. If your commercial printing pieces, like
brochures or billboards, could be construed in a way that you did not
intend, you could just end up as a source of entertainment.
Your message should differentiate you from your competition and explain your new product while concentrating on its benefits.
In
addition to choosing the right theme and message, you need to choose
the right vehicles to get your message to your audience. You will need
to consider public relations tactics, direct mail pieces, e-mail or Web
site ads, catalogs … there are numerous possibilities. Choose what
works in your industry and what your budget can accommodate.
Once the launch is over
Celebrate
and relax for a moment! Only a moment though – you need to keep
following up with your target market and revisit the launch process
when needed – say, for repackaging purposes, new incentives, new
benefits or if you decide to target a new market.
Follow up by
hosting post mini-launch parties, holding focus groups to see what
people like and do not like about the product, and sending out
brochures and other marketing materials to prospects that did not bite
at the main launch. Send out emails and invite people’s comments on
your Web site for ways to continuously make your product better.
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