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Product Launch methods
Product Launch Definition
A product launch is when a company decides to a launch a new product on the market. The launch will be the first time the customer has access to the new product. This can be an updated version of an existing product, or a brand new innovative product. They are done to attract potential customer’s attention to the new product using a pre-planned strategy to generate as much intrigue, excitement, and therefore sales as possible. The strategy usually consists of a schedule of carefully planned events or advertisements in the run up to the release of the product with the goal of creating public anticipation. This is common in the music industry, for example, when agencies run advertising campaigns on social media, TV, and radio previous to the release of an artist’s new single or album.
Challenges Associated with Product Launches
- -Lack of Preparation
Companies can get so wrapped up in the design and the manufacturing of their products that they leave marketing them properly until the last minute. It is important to take full advantage of your marketing function, assigning a proper team dedicated to the product launch to ensure that all the necessary prep is done before release.
- -Targeting the right audience
Targeting the right audience when launching a product is essential so that you find the people that will appreciate your product the most. To do this, you must fully understand your product and aim your advertising at the right demographic. This should not be done based solely on stereotypes, but rather by studying which demographic searches for things that are similar to your product or rather, alternatives. In this way, you can then research what social media channels this demographic uses the most frequently so that you are able to advertise in the right places for efficient targeting.
- -Launch Management
It is usually a good idea to dedicate a team to a product launch. This way, no one person is spread too thin with the extreme organisation and planning that launching a new product entails. Many product launches fail, but this risk can be minimised with a dedicated team of staff members that can help each other and the business to successfully carry out the product launch and generate sales.
To avoid some of these challenges, we have brought together some of the best authors in the industry providing templates and how-to guides on perfecting the product launch.
Find out more about Product Launch here
What a product launch really is by MBaskool.com: What Product Launch is
How to avoid failure on Harvard Business Review: Why Most Product Launches Fail
Tips on planning a successful product launch: 7 Key Elements to a Perfect Product Launch
- Have in a single page, the essentials of your future business in a very organized manner478 remove_red_eye51
Thirty-Nine-Step Product Launch ChecklistA 39 steps guide to help you launch your product - don't miss a key step which could give you great results!144 remove_red_eye17
Seven Steps to Market TestingA 7 step guide to help you understand your potential market before starting anything in business97 remove_red_eye15
Instant Business ConsultingGet in minutes the essential elements to start your very own high-value added consultancy168 remove_red_eye25
MOBI Business Plan TemplateWrite the narrative of your small business to clearly share your vision with investors, employees and suppliers132 remove_red_eye13
Before you start a business Checklist & AdviceAvoid pitfalls + Answer the essential questions before deciding to launch your business44 remove_red_eye5
How to write a Business MemoHow to Write a Memo That People Will Actually Read65 remove_red_eye10
Testing Your New Business HypothesisThis article gives you 10 experiments for you to test your new startup business hypothesis58 remove_red_eye10
Early-Stage Startup Pitch DeckLearn to build a compelling deck that clearly articulates your mission193 remove_red_eye20freeby Jeff Solomon
The SIMAC (Situation Idea Mechanism Advantages Conclusion) MethodSIMAC - How to pitch successfully? A universal Strategy Consulting pitch method to win your audience over158 remove_red_eye16
Product Launches Tips and TricksA Tutorial on Valuable Product Launch Tips and tricks27 remove_red_eye3$4.60by Julian Owino
The Customization CurveDiagram and explanatory essay on what level of customization you should be providing to your customers.New!Like!freeby Aaron Harris
How To Make Extra Money at Home By Doing Side JobsThis video goes through 9 jobs that you can get paid to do online without actually being a full-time employee.New!Like!freeby Justin Bryant
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