Strategic Product Launch - A Primer

Launching a new product is one of the most challenging and risky endeavors by any company, and hence for it to serve in adding value to the firm, it needs to be strategically effective. Thus, a Strategic Product Launch should follow a range of analysis regarding audience identification, packaging and promotional tools.

To begin with, a strategic product launch should encompass the identification of the target market so that the entire venture is tailored in accordance with their preferences. The audience being unique, the packaging should be unique too. Hence, the needs and desires of the target audience should be kept in mind while scheming the look and feel of the product packaging, especially when it concerns high-end, limited volume items.

A strategic product launch should, thus, give particular attention to the way it is positioned. This is often as critical to its success as its technical specification.

With regards to the promotional tools employed in a strategic product launch, the key component is getting the buy-in of chief partners and consumers. For this, a healthy relationship is to be maintained with all the members of the supply chain.

Finally, a strategic product launch requires making decisions that determine how successful the company will be after the launch. Factors such as time, resources, scope and quality play vital roles in determining the specifics of the launch, which in turn should be an effort to fuse together every aspect of the productís or company brand.

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