THE PROPER BIRTH OF THE NEW TECHNICAL PRODUCT (after much development effort and investment!)
Contrary to what many texts and marketing specialists have said for a long time, new products failures are due not only to incorrect market research. It can also be caused by countless details of an incorrect product launch. The technical product launch is a multidisciplinary and complex project that requires:
- Full-time (or nearly) dedication of key personnel for the project.
- Detailed and realistic planning.
- Excellent project management skills.
- Extensive check-lists analysis.
- Commercial creativity in parallel with the creativity of the new product itself.
- Mental and organizational flexibility to quickly alter plans in case of contingencies.
The methodology developed by MIC CONSULTING is composed by the following stages of technical product launch project:
1. Assembly of the New Product Launch Team.
2. Pre-launch check-list.
3. Activity scheduling (Gantt charts).
4. Industrial chain definition and structure.
5. Target Segment Analysis: characteristics, atomization, scattering.
6. Early-adopters portfolio construction.
7. Potential constraints check-list at the distribution/installation/use stages.
8. Company awareness of the inherent disadvantages of the new product.
9. Branding strategy.
10. Positioning Statement *for the new product *.
11. Competition or substitute potential reactions: contingency plans.
12. Designing of logistical/promotional hygienic level for the intermediates level.
13. Awareness of other potential functionalities of the new product.
14. Awareness of other potential applications of the new product.
15. Pricing Strategy: use of value-based (fair price) and “the initial discount tactic”.
16. Sales force training and post-launch sales programming.
17. Designing the channel offer.
18. Designing and implementing the communicational marketing for the new technical product.
19. Design of the product life cycle, including new potential versions of the new product.
20. Intellectual property protection plan.
21. Designing the post-launch activities.
22. The Day D.