Tuesday, January 19, 2010

Product development

A market development product launch needs to be very carefully planned. It is a very important event and how it takes shape can determine the success of a campaign by a lot. Every sprint needs a solid balanced start. It must be neither weak nor overdone. The product launch is the backbone of every marketing campaign.
The first impression is always the best impression. It is very important to gain market approval and win hearts at the very onset upon the introduction of new products to the market. This is also very essential for creating a handsome first round of sales. Good early sales helps a company mop up the costs quickly and a quick recovery of cost is a big factor in success of the product in the long run and its sustainability.
It is very important for the team to work in sync. Responsibilities need to be properly delegated. The budget is one very important part of the event. A budget needs to be properly decided on. While things must fit into the budget decided, it is also very important not to be uptight about the budget. The product launch is the single most important media event in the marketing campaign of the product. A slip ir embarrassment can spell trouble as it gives out wrong signals which may symbolize lack of enthusiasm on the part of the company regarding he product. There needs to be substitution plans and crisis and risk management programs in place to handle any emergency and goof ups.
A high profile event like this requires the presence of celebrities. Brand ambassadors and other high profile people go a long way into promoting the product. As a result security is of utmost concern. It is very important to have security well in place to handle situations and to prevent any untoward event from happening. However this must be done in an unobtrusive way so that it leads to no feelings of irritation among the attendees.
Concept launches and pre launches go a long way in ensuring a successful product launch. They help in building a curiosity and anticipation in the mind of the consumers and also allay fears. By cleverly utilizing concept launches and pre launches a company can study the reactions of the market well in advance to correct any flaws before the product launch. A market development product launch needs to be construed well and tactfully and with much effort.