Among the key components included in a strong product launch plan:
- Clearly defined sales objectives
- Assured sales channel readiness
- Promotional functions in place (public relations/marketing/advertising)
- Resources to track, monitor and account for execution
Positioning is not about features and specifications, it's the core message that differentiates your product from everything else in the marketplace. A unique product identity strengthens the market's perception of your product and in turn reinforces your company's overall positioning.
To make sure everyone is working toward the same goal, certain milestones should be established:
- Have we identified all necessary launch channels?
- What number of new products do we plan to sell by a specific date?
- When will the product be ready to launch at a national trade convention?
- Are sufficient stocking orders placed with key distributors?
- How can we grow the product into a 5-10 percent market entrenchment by a specified date?
Break down every conceivable launch component. Identify customer databases where appropriate. Send new product samples to industry and trade publication reviewers. Do everything necessary to create a strong, functioning life-support system for that product.
In order to establish the new product's identity in the marketplace, the core message must be repeated over and over again. This requires consistent positioning within all of the company's marketing communications, including sales presentations. When introducing a new product, you need to step back and assess its fit with existing channels. Can we reach this market with our current sales force? Determining your pricing strategy and reviewing your sales channels should be happening while the product is being positioned, as these factors will have a definite impact on the positioning message.
In situations where one company partners with another to introduce a new product, strict due diligence should occur before the execution phase -- thus ensuring that each partner is fully committed to the process and has the necessary financial resources and familiarity with the marketplace. Whatever the circumstances, have clear-cut performance objectives in place and be ready to measure them carefully. Preview the new product launch templates below.
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New Product Launch Tools/Templates |
| Product Requirements Definition |
| Product Design Document |
| Functional Specifications Requirement |
| Product Launch Sequence |
No Preview - Accessible In Members Area Only
| Product Launch Templates | File Description |
| How To Develop A Successful Product Launch Strategy | This template will guide you step-by-step in the items to be considered to develop a successful product launch strategy. You should be able to use it to draft your own document to share with you team members and superiors |
| Best Ways To Launch New Products - Kick Off Meeting Presentation | Need to get everybody on the same page on what needs to be done to execute a successful product launch? This presentation is ideal to give to all involved in the process and to drive action plans, roles, and responsibilities |
| New Product Forecasting Model | A very easy to use and well laid out forecasting model is now at your fingertips for forecasting sales of a new product. |
| Company and Product Launch How To | This document covers the steps needed to do an effective new product or new company launch |