Lecture 2 Flashcards
Strategic launch decisions
What are 3 strategies in strategic launch decisions
product, market and firm strategies
what should a new product do
solve a problem of target market
they should be happy with the solution
they should be willing to buy
what are important issues targeting
selecting the correct target audience
determine the size (is it large enough)
what part of the target market will be yours
to whom and how to connect (how to communicate)
what are 3 types of testing
alpha, beta and gamma testing
what is alpha testing
internal testing
what is beta testing
external testing with a limited number of users
what is gamma testing
external testing with representative users
what is full sale testing
firm fully markets a product in a country as part of testing
which decisions need to be made for full sale testing
how many countries
which countries
length of test
what info to collect
what actions to take
what ar potential problems with full sale testing
high initial costs
lose consumer goodwill before official launch
giving competitors opportunity to copy
do consumers represent the final target group
advantages of launching through crowdfunding
helps in attracting investors
early feedback
faster to market
potential customers get early access
what is an mvp
minimal viable product
very basic product with enough features to satisfy early adopters, complete set of features developed after feedback from early adopters
what are advantages of an mvp
helps in attracting investors
faster to market
potential customers get used to the product and provide feedback
what are 2 international launch strategies
waterfall and sprinkler
what is waterfall strategy
first in home country and slowly expand to other countries
what is sprinkler strategy
first in home country en vervolgens direct in andere landen in een span van 1-2 jaar
what are prime motives for waterfall strategy
adaptations of market strategy can be very time consuming
less resources necessary
other constraints might block global roll out
existence of lead effect
what is lead effect
important source of information about the innovation from the lead market to foreign markets
what are 2 important aspects of timing
is the firm ready
is the market ready
what are 3 categories of entrants
first mover
early follower
late entrants
what are first mover advantages
technological leadership / differentiation advantages
pre-emption of scarce assets and key resources
exploiting buyer switching costs
what are first mover disadvantages
lot of r&d costs
undeveloped supply and distribution channels
immature enabling technologies
lack of complementary products
uncertainty of customer requirements
