Product Launch

Launching your product is just as important as developing a great product. If you don’t do the product launch effectively, customers won’t be aware of your solution, potentially have a bad impression of your product, and you may not hit your revenue and profitability goals. As such, planning early is critical. Start your product launch plan 4-6 months before launch so that when the product is ready for sale you will be ready to effectively execute a launch that meets your goals.

When any new product or service is introduced in the market, it is called a Product Launch. An existing product can also be launched after further innovation or upgrades to the product. A Product launch passes through a number of steps known as the product launch process, starting from the ideation phase to development phase, testing phase, analyse phase to finally the launch of the product or service.

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The market launch starts after the product or the service has been launched and encompasses the marketing plan and its implementation to ensure that the product reaches the target market. Brand launch is defined as the creation of a new brand in the marketplace and positioning it where none other exists. A good product launch helps in the following:

Create Awareness

Launching a product or brand through articles, events and promotional events ensure that the campaign gets noticed and people become aware of the product or brand. This, in turn, can increase the customer base and sales.

Planning and Staffing

The soft launch can give an idea of the strategies to be implemented, resources and staffs requirement and the training and preparation needed to take care once the product is released to the whole marketplace.

Elements for a Good Product Launch

The principles & key elements for a successful product launch are the following: