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Product launch involves introducing a new product to the market through targeted advertising, logistics, product positioning and marketing strategy. The type of launch used depends on the product, customer base and market climate, and can take anywhere from six weeks to two years. Successful launches require coordination, planning, and cooperation from the marketing team.
Product launch is a process of launching a new product into the consumer market. There are two types of casting: soft and hard. The type of launch used depends on the product, customer base and market climate. Both types follow the same basic launch steps, with slight variations in scope and depth.
There are four stages to launching a product: targeted advertising, logistics, product positioning and marketing strategy. All four stages are required, but the period required can vary from six weeks to two years. The duration of the launch program depends on the product, competition and launch area. International releases are generally the longest.
Targeted advertising is planned and tested at least two months before product launch. In each major city, local market research trials are conducted to test consumer response to the product and campaign. Adjustments are made as needed.
Advertising campaigns include strategies for print, radio, and television ads. They need to be coordinated and released on a specific schedule to provide coverage without oversaturating the market. Internet advertising strategies are becoming more popular, with product launch announcements placed on the web and emailed or blogged to interested customers.
Logistics is the management of the physical movement of the product. A successful launch requires the product to be available in stores for sale. Locating shelf space and getting material to store shelves by a specific date requires coordination, planning, and cooperation.
Product placement in television shows, movies, and other media has been a very popular technique as part of a product launch. Timing for this type of publicity is complex, as most shows are filmed six months to a year before they appear on TV. Films typically have an even longer lead time requirement.
Research on successful launch projects has shown that effective use of the product placement technique increases the consumer’s willingness to buy the item. This could even include hiring local actors to use the product in a public place and recommend it to others. This is known as viral marketing and takes advantage of personal referral or word of mouth campaign.
Coordinating and managing a product launch is usually the responsibility of the marketing team. Launching is the first step in a long-term marketing strategy. It is critical to correctly identify a product’s key features and consumer base, as it is very difficult to change strategy after launch.
Asset Smart.
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