Plan a successful new product launch in just 4 steps
Are you having trouble setting up? New product launch plan for Business? Through the article below, AIT Group will help you solve this difficulty by sharing about 4 steps of planning the most successful and grandiose new product launch. Let’s find out now!
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1. Importance of New Product Launch Planning
A product launch plan is a summary of the activities and processes of promoting and introducing new products in the market. Building a specific and detailed product launch plan will bring businesses a lot of benefits such as:
- The plan will help businesses have an overview of the entire campaign. From there, the leadership or project organization can give the most specific and detailed directions for the new product.
- Support businesses to budget appropriately and come up with the most effective and optimal method for the campaign.
- Helping businesses choose the right marketing plan and marketing channel, ensuring that new products can reach customers in the best way.
- The product launch plan helps everyone in the department or business easily control and track the stages and items in the campaign more easily.
- It is easy to predict, but risks may arise when launching new products and promptly developing solutions.
Honda’s new product launch event organized by AIT Group
>>>> Learn more: Service New product launch ceremony with detailed process
2. 4 Effective steps to plan a new product launch
2.1 Market analysis
To have an effective new product launch plan, market analysis and competitor analysis are important tasks that you need to do first. Through this activity, you will be able to grasp the total demand of the market and the factors that the target customers are interested in.
- Understand what the customer’s real needs and wants are when buying a product.
- Understand the business situation, how to communicate and approach customers of competitors.
Market analysis will help businesses understand what target customers are interested in (Artwork)
From there, the enterprise will adjust the product design to be different, stand out from the competition, and best meet the needs of customers. At the same time, clearly defining their position in the market will also help businesses build a product launch plan with a higher and more certain success rate.
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2.2 Analysis of the moment
Once you have an overview of the market, competitors, and customers, the next thing you need to do is choose the right time to launch a new product launch campaign. Launching an early launch campaign will help your new product get a foothold in the minds of consumers even if a competitor’s product comes out soon after.
You should launch new products as soon as possible (Artwork)
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2.3 Organize an impressive new product launch ceremony
The launch ceremony plays an important role in promoting the company’s image, brand, and products. This is also a great bridge between products and target customers, businesses, and business partners. At the same time, this launch ceremony is also a milestone marking the birth of a certain brand or product in the business market.
The impressive product launch ceremony of Piaggio organized by AIT
In order to organize the product launch ceremony so that it is impressive, in the process of ideation, the organizers need to be fully, clearly, and accurately the necessary information. In addition, businesses should pay attention to the following:
- Choose a reasonable place and time for the product launch, convenient for reaching customers.
- Carry out methodically and smoothly activities such as cultural performances, speeches, etc. when the event takes place.
2.4 Promotion on media channels
A new product launched into the market without receiving attention and acceptance from customers will be a failed product. Therefore, the selection and implementation of communication channels is an essential and important strategy.
The promotion of new products on media such as Facebook, Youtube, Newspaper (Artwork)
Here are some media channels that you can choose to promote new products to consumers:
- The television station, TV
- Liveshows, events
- Leaflets, brochures
- Facebook ads, google ads
- Email – marketing…
However, due to the characteristics of each media channel, you need to have a long-term and thorough plan for the product promotion campaign. Some channels will show quick results right at the beginning of the event, while some channels will take effect after the launch.
>>>> View details: What is Product Launching? How to launch a new product effectively
3. Notes when developing a new product launch plan
The following notes will help you build a perfect new product launch plan from which to bring success to the launching campaign.
- The product launch plan needs to be clear, with a specific and detailed implementation timeline for each part. This will help increase the likelihood of project success and help businesses track the progress of the product launch easily.
- You should plan each phase of your new product launch campaign.
- You need to carefully analyze the details, content, and items required for a new product marketing campaign.
- You should analyze the points of success and failure in previous projects and product launch campaigns to learn and draw lessons to implement the new plan in a more complete and thorough manner.
Let’s draw lessons from previous product launch campaigns to make the new plan more complete (Artwork)
The above is useful information to help you build a perfect new product launch plan. Presently AIT Group is providing a full-service product launch event organization. If you have a need to use our services, please immediately contact 0913 318 464 – 0983 027 448 for more detailed advice from our staff!
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