Marketing Strategy Process to Launch a New Product

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Marketing Strategy Process To Launch A New Product
The new product introduction process is heavily reliant on the cross-functional coordination of an entire organization if it is to succeed. The many processes that need to be coordinated and highly collaborative in nature can significantly increase the odds of a new product succeeding in the market. It's the objective of this analysis to provide an overview of the most critical steps and processes needed to ensure a successful new product introduction.
Analysis of the New Product Introduction Process
Set very clear, measurable objectives for the launch that require collaboration to succeed. The most important factor in ensuring a successful new product introduction is defining a measurable realistic series of objectives that give each department or functional area of the company ownership of the process. Goals and objectives for the launch must not only be challenging yet achievable from an organizational standpoint, they must also be designed to provide each department with a clear sense of accountability and ownership (Bentley, 6). This aspect of change management as it relates to a new product introduction is crucial for its success.
Define the unique value proposition of the product or service in words your sales teams, distribution partners and customers can understand. Too often companies will either skip this step or create such a convoluted unique value proposition that it fails to communicate
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