Strategic Launch Planning Flashcards
“You cannot save a bad product with a splendid launch strategy but you can surely kill a great product with a poor launch strategy”
“You cannot save a bad product with a splendid launch strategy but you can surely kill a great product with a poor launch strategy”
What % of cash is spent at the launch/commercialisation stage of the NPD?
Cooper & Kleinschmidt, 1988
- Over 50%
What is a product launch?
Hultink et al 1997
- The decisions and activities necessary to present a product to its target market and begin to generate income from sales of the new product
How many types of launches are there?
2
What are the different types of launch?
- Tactical
- Strategic
Explain the components of a tactical launch decisions and give some examples of what these might be:
- The advertising, promotion etc is done near to the time of market entry
- This type of launch is more easily modified in late stages of NPD
- Strongly influenced by early strategic decisions
- Unlikely to compensate for a poorly developed product
e.g.
Hultlink et al 1999
- Promotion: Advertising, price, free samples
- Sales & distribution: events, distribution structure
- Pricing: Introductory, price skimming
- Product: branding
- Timing: fast or slow
Explain the components of a strategic launch decisions and give some examples of what these might be:
- Taken long before the time of market entry
- Defined within PIC or protocol
- Difficult of expensive to change later in process
e. g.
- Target market: Niche or mass
- Market entry: 1st or 2nd
- Relative innovativeness: incremental or radical
- Investment: R&D, advertising etc
- Positioning: attack or avoid competition
- Unique value proposition: core benefit, physical product
What are some factors that are key to a successful launch?
- Superior skills in market research, distribution, R&D
- Cross-functional team working
- High quality technical implementation
- Information gathering activites
- Launch timing taking into consideration: company, customers and competition
What is an ATAR launch tactic?
- Awareness: Level of involvement, advertisement, WOM
- Trial: Free samples, tasting
- Availability:
- Repeat: Encourage further usage, long term discounts
What are some pre-launch activities?
- Training staff
- Pre-announcments/market signalling
- Pre-stocking
- Market access: red tape
What is important to conduct after the launch is done?
Post-launch review
What % of firms conduct a solid post launch review?
Haines, 2013
- 21%
Out of the best performing firms how many perform a post launch review?
Cooper et al, 2014
- Twice as many
