New product launches start with an idea and then a plan. Sometimes, great products fail at the launch stage because one element of the plan was missed.

A successful launch starts by agreeing the following items:

• Objectives: How many new customers does the company want to obtain? What sales are expected from day 1? Does the team want to nominate the product or service for an award?
• Budget: How much money is allocated towards the launch to meet the objectives?
• Position: Where in the market is the product or service positioned: expensive or great value, available to all or exclusive?
• Marketing collateral: What is needed: brochures, website, posters, adverts, direct mail, PR?
• Route to market: How is the product being sold: through distributors, direct, online, offline?
• Timetable: How much time is needed for product development, tooling, packaging, product testing, showing to customers and distributors to obtain their reactions?

See also:

Q33        How will our competitors react?
Q37        How do we win awards?
Q38        How do we protect our idea?
Q80        Should we dump some products?
Q82        How do we survey existing clients?

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