Launching a new product is a complex task, and one that is well-staffed and competently handled in many organizations. However, there are two primary reasons why you may want a consultant to help:
- The product involves a new paradigm or entry into a newmarket where you have less experience
- You would like to acquire a set of product launch best practices that will increase your effectiveness for future product launches.
The cost of delays in product launch are legendary. In the electronics business, system revenues may range up to $50M per day of delay! How much are you willing to pay to reduce your launch time by one week? Or simply to increase the probability that you will launch on schedule?
We have developed a rapid launch planning process that was responsible for the fastest ramp-up of a new systems product in the history of the contract furniture industry. The key is to concurrently analyze and make progress in the key areas of pre-launch decision-making. These include:
- Market research—do you know enough about the customer you’re aiming for?
- Internal product cannibalization—does the new product risk existing revenues?
- Competitive positioning and marketing issues—what’s your primary differentiation?
- Product completion issues—will all the elements be in place on launch day?
- Marketing collateral and channel preparation—will the sales engine be ready to go?
- Management alignment and project management—does everyone know their role?
The launch planning process can be expedited over a week of intensive workshops, or it can take place in gentler fashion through a multi-week coaching and workshop process. The templates and tools, along with a consensus-oriented plan of record form the deliverables from the launch planning process.
Product launch planning is one of the most valuable tactical opportunities in your business. We can help make it run more smoothly.
