Preview

Product Launch Checklist Template

Good Essays
Open Document
Open Document
840 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Product Launch Checklist Template
Product Launch Checklist Template

Back to Basics in Ensuring A Successful Product Launch
One way to make sure that you've covered all the bases for your product launch is to revisit the principles taught in Marketing ; namely the 5 "P's" of Marketing—Product, Price, Packaging, Place, and Promotion.
To a seasoned marketer, these concepts may have been pushed out of mind many other concepts, but here's the big secret—the 5 "P's" cover it all. Often approaches do change the tactics and gives things different names, but overall, effective marketing is still based on these principles.
 Deliver a solid product—Ensure that the product is internally tested, market tested with your target, and can deliver on the promises you make about it. That goes for product reliability, safety, and especially post-sales service and support.
 Do your homework on pricing—For retail products, it's pretty straightforward. Compare your product to the competition, do the costing to make sure you are meeting margin goals, and set the price according to perceived value. For less tangible products, such as customizable software products, one method we discovered for doing price comparisons is to find media reviews of competitors' products. .
 Design packaging to suit customer preferences—Beyond the basic utilitarian reasons for packaging, consider how your end customer perceives the product—and your company's values—based on the packaging. For example, adding the right unique feature, like an easy-open container, or minimizing the packaging and providing documentation on CD-ROM for the environmentally-conscious crowd, makes it that much more likely that you'll get word-of-mouth advertising and repeat business.
 Place your products where your customers are—In your distribution planning, focus on understanding your customers and the places they go when they need a new product or service. The virtual world of the web gives a whole new meaning to "place." It now means both where your

You May Also Find These Documents Helpful

  • Better Essays

    The four elements of the marketing tactics are all equally important when developing a marketing plan. The four P 's: product, price, promotion, place seek to inform, satisfy, reach, and place value on the product or service that will meet the customers needs. All four are needed in a marketing mix. The mix can be altered by varying the degrees of the mix, but…

    • 896 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    These 4 Ps are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response…

    • 524 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    The 7 P’s helps the business to create an effective marketing mix which brings profits for the business. The 7 P’s include: people, place, price, process, physical environment, promotion and product.…

    • 1109 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Mkt/421 Marketing Mix

    • 1459 Words
    • 6 Pages

    Place is the process in when it is decided where the product is going to be sold and how the product will be distributed. Many questions are answered in this part of the process such as “Where do buyers look for this product?”, “What channels of distribution should be used?”, “Do we need to use a sales force, attend trade shows, or send samples to companies?”, and “What are competitors doing?” (Manktelow, 2013)…

    • 1459 Words
    • 6 Pages
    Good Essays
  • Good Essays

    • The Marketing Mix 7 Ps: Product – The Product should fit the task consumers want it for, it should work, and it should be what the consumers are expecting to get. Place – The product should…

    • 972 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Crown Cork Case

    • 452 Words
    • 2 Pages

    Consumers have started viewing packaging as more than functional. The container became an advertising vehicle and its features helped contribute to product sales.…

    • 452 Words
    • 2 Pages
    Satisfactory Essays
  • Best Essays

    One of the many tools used for knowing consumer behavior are the four P’s of marketing, the product, place, price and promotion. By knowing the concepts of the four P’s…

    • 1547 Words
    • 7 Pages
    Best Essays
  • Satisfactory Essays

    The marketing mix, the four P’S as it is known by, for this piece of work this will extend to the 7 p’s to cover the full dynamics of this concept are the basic elements of which are;…

    • 1055 Words
    • 5 Pages
    Satisfactory Essays
  • Good Essays

    Furthermore, the partners could use the four P’s of marketing to help implement the best strategy when determining their marketing strategy. For instance, the representatives of Electronic Visions could ensure their product is appealing to the market in which they are attempting to enter. Although they may believe their products possess a quality appealing to this new market and country, they must assess if it is satisfying the major needs of their new customer base. Moreover, the representatives must question whether the price is reasonable compared to those standards well-known by consumers of that country. This is important to determine as this factor may determine how responsive the country is to the products regardless of whether a niche is being filled. Furthermore, representatives must consider both the place and location of their organization as well as promotion in order to best determine their marketing strategy. For instance, they must consider which locations are suitable and easy for customers to travel to along with promotional stimulants within the organization in order to stimulate success within the…

    • 570 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Sales Plan

    • 3626 Words
    • 15 Pages

    The price of your products and services will, to a certain extent, depend on the competition. Make comparisons based on the following where appropriate: . How your product performs . How it looks . What is its quality? . How is it packaged and presented? . Whether your level of service is better or worse than your competitors . Your image Do not be afraid of setting a higher price than your competitors if your product or service has advantages over theirs. Customers often associate higher prices with higher quality - therefore it may be that a higher price can help the image or reputation of your products and services.…

    • 3626 Words
    • 15 Pages
    Good Essays
  • Better Essays

    London Olympics Pricing

    • 3240 Words
    • 13 Pages

    In 2004 London won the rights to host the 2012 Summer Olympics and it became the London Organizing Committee of the Olympic Games’ (LOCOG’s) contractual responsibility to plan and manage the 17 days of Olympic events in the city. 12,500 athletes from 205 countries are expected to participate in the London Olympics, competing in 26 sports and 300 events. With a projected 7.9 million tickets to be sold the 2012 Olympics will be the biggest ever. It is the LOCOG’s responsibility to manage the pricing, sale and distribution of the tickets. This report describes and justifies the LOCOG’s proposed pricing strategy for the upcoming 2012 Olympic Games…

    • 3240 Words
    • 13 Pages
    Better Essays
  • Powerful Essays

    Business Studies Notes

    • 1742 Words
    • 7 Pages

    The focus of this topic is the main elements involved in the development and implementation of successful marketing strategies.…

    • 1742 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Packaging has a huge role to play in the positioning of products. Package design shapes consumer perceptions and can be the determining factor in point-of- purchase decisions which characterize the majority of shopping occasions. A product’s packaging is something which all buyers experience and which has strong potential to engage the majority of the target market. This makes it an extremely powerful and unique tool in the modern marketing environment.…

    • 1376 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    In nowadays competitive environment the role of packaging has changed due to increasing self-service and changing consumers’ lifestyle. Firms’ interest in packaging as a tool of sales promotion is growing increasingly. Packaging has become an ultimate selling proposition stimulating impulsive buying behavior, increasing market share and reducing promotional costs.…

    • 3289 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    consumers ' demand for packaging that is more advanced and creative than what is currently offered.…

    • 3552 Words
    • 3 Pages
    Powerful Essays

Related Topics