New Product Launch Checklist

Launching a new product or service is an exciting time and it is possible to overlook something in the rush to get that product or service to market. I developed the following checklist to make certain that I didn't make the same mistake twice. Hopefully it will keep you from making a mistake the first time.

1. Target the Audience

Over my 30+ years of experience, I have been involved in lots of new product introductions and have witnessed even more. Failing to target the market is the most common mistake I see in new product introductions. If you haven't adequately defined the market, how can you be sure of what they want or need? Furthermore, how can you develop a plan to reach them? If you only get one thing from this article, make sure that you target your market.

2. Train and Focus the Sales Force

If you want your sales force to sell the new product, then you better make sure that they know and are comfortable with this product. Practice, role play, make calls with the sales force, but make sure they understand and can sell the product.

It is also important to make sure that selling the new product is their focus and that you have not confused them with multiple initiatives in the same or relatively close time frame. Clear the decks and make the new product launch their only focus.

3. Samples and Demos are ready and in place

New products generally need to be explained and samples and demos provide some of the best ways to do this. If you are going to use either, it is going to be critical to your success to insure that they are ready and in place prior to the launch.

4. Pricing is set

Your launch will not be a success if you don't sell your product or service and you will not be able to do that unless you have completed your pricing and terms. If you are selling through distribution, it will be important to provide them with guidelines as well.

5. Promotions are in place

Frequently new products are introduced with promotions, so making sure the details of that promotion are clear will be critical. It is also possible that there may be programs like co-op advertising or volume rebates that will be affected and making sure those bases are covered should not be overlooked.

6. Displays are ready

Merchandisers and displays can be very effective in a new product launch. First you must decide if that is a part of your plan and if it is, then to make sure that they are in the right place at the right time to make your launch a success. Nobody needs a merchandiser or display after the promotion and the product is taking up regular shelf sapce.

7. Distribution is ready

Make certain that your means of getting the product or service to the end user is in place and ready to go before your press releases and advertising kick in or you will have wasted your budget. Promotion without product doesn't serve you or the prospective customer or client.

8. Inventory is in stock

It isn't enough to have product in the channel of distribution. If your estimates are wrong or your sales exceed expectations, your future success will depend on being able to react to that customer demand. Make sure you have inventory on the shelf or coming off the production line in time to replenish your supplies.

9. Advertising is set

Making people aware of your new product is going to be an important part of your launch. Most media have a lead time that has to be a part of your consideration. Print publications can run several months. Getting your website listed in Google or some of the other search engines can take even longer. Production for websites and broadcast commercials take time as well. Don't wait till the last minute to begin this process.

10. Press Releases are timed

Just like with advertising, press releases need to be timed to the introduction. Lead times are long and talking to the outlets for your releases will be important in making sure that their timing and your timing work together to benefit the launch.

Different products in different markets will have variations on this checklist. Use this not as the end of your checklist, but rather as the base and build additional issues as required for your product or market.

Copyright Bob Cannon/The Cannon Advantage, 2005. All rights reserved.

Bob Cannon helps inventors, imagineers, importers and manufacturers successfully introduce new products to the Hardware / Hardlines Marketplace. Check out his blog at http:http://www.takingaim.blogspot.com Bob can be reached at (216) 408-9495 or mailto: bob@marketingnewproduct.com

This article courtesy of http://www.marketingnewproduct.com You may freely reprint this article on your website or in your newsletter provided this courtesy notice and the author name and URL remain intact.

---

How To Increase Your Online Sales Anytime

Hold a discount sale on your web site. Use the... Read More

Its All About The Leads: Publishing to Capture Profits

All online businesses are nothing more than lead capturing machines.... Read More

Sex and the Gods of Internet Marketing

Whenever I mention my occupation to a non-wired person, it... Read More

The e-Marketing Plan - Brief Overview and Working Scheme

I. Summary of a marketing planThe marketing planning (concretized in... Read More

Online Sales: 10 Magical Online Sales Tactics To Sell Your Products Faster

There are certain magical tactics that work so well that... Read More

What is Guerrilla Marketing?

The history of these battles is the history of guerrilla... Read More

Internet Marketing ? Long Term Strategy

Once your site is up and running, the best method... Read More

Dollars In The Details!

When it comes to your marketing message, the little things... Read More

Profiting From the Online Business: Tips to Boost Your Sales

Creating a lucrative online business is not an easy task.... Read More

Why Should I Visit Your Website?

If we can't attract visitors to our websites there's little... Read More

How to Choose an Internet Marketing Strategy on a Shoestring Budget

An Internet marketing strategy is important if you plan on... Read More

Think Your Way to the Gold Online!

If you have ever wanted to know HOW the Internet... Read More

8 Benefits Of Helping An Online Business Newbie

Do your remember when you first ventured out in the... Read More

Internet Marketing Tips from a 10-Year Old?

Can a 10-year-old teach you anything about Internet marketing? Until... Read More

Internet Marketing Secrets Spiel

Wouldn't you like to know all the Internet marketing "secrets"... Read More

Five Simple Steps To Make Money Online This New Year

Most people in a new year make resolutions to make... Read More

Does Your Internet Marketing Pull?

"Pull Marketing" has always been, and will continue to be... Read More

Know The Fundamentals To Success

Internet Marketing is right for everyone. Unfortunately, not everyone is... Read More

10 Deadly Joint Venture Profit Killing Mistakes

1. Not sending out another mailingSending another mailing (to the... Read More

7 Ways to Become an Obvious Expert in Your Field

Obvious Experts enjoy a compelling advantage over their competition; they're... Read More

Finding The Right Internet Marketing Technique For You

Finding the right Internet marketing technique that works best for... Read More

Website Marketing: 10 Proven Uncommon Tactics Ways To Accelerate Your Profits

Would you like to accelerate profits at your website?Here are... Read More

5 Surefire Ways to Increase Sales

The Internet has changed how people do their business. Even... Read More

Internet Marketing and Your Old Age

Everybody wants to learn how to make money on the... Read More

What Rich Internet Marketers Know That You Dont

Thirty years ago, I sold information via small classified ads... Read More

Having The Right Attitude And Start Becoming A Problem Solver

Do you really want to make money online?Do you want... Read More

The Naughty Niches: Potential Gold Mines or Business Killers?

Okay, so you're looking for new ways to grow your... Read More

Starting an Internet Business is not for Everyone

Creating and building your home internet business does not need... Read More

Capture Names - They Are Like GOLD Nuggets!!

A landing page is used to capture people's details when... Read More

Educate Yourself to Succeed in Internet Marketing

More and more people are considering the World Wide Web... Read More

10 Psychological Desires To Insert Into Your Ad

1. Most people like surprises because it's a change of... Read More

Are You Limiting Your Income?

When first starting out in internet marketing, I was afraid... Read More

How To Use Database Marketing To Skyrocket Your Online Profits

Database Marketing is the gathering and storing of specific information... Read More