New Product Launch Checklist

Improving the effectiveness of a new product launch is of critical importance to most companies and brands as new product development costs can be stratospheric, coupled with extremely high failure rates. Some estimates of new product failure as high as 90%! Certainly the new product development process is complex and multi-functional—not just marketing—but typically involving many departments such as engineering, operations, purchasing, executive management and others.

The scope of this new product launch checklist does NOT address the many product development processes. Rather, the focus of this New Product Launch Planning Checklist are the marketing activities required to improve product launch effectiveness. No question that different markets or product types will require vastly different new product launch approaches, and have different budget resources. So a New Product Launch Planning Checklist should allow for a range of market and budget scenarios. This new product launch planning checklist is based on a typical business-to-business (B2B) market scenario in the construction industry, whether building product manufacturer (BPM), or construction services brand.

Note that a separate blog on a New Product Development and Launch Strategies Webcast, sponsored by the Construction Marketing Association is available here:  New Product Launch Webcast.

 

I. RESEARCH AND TESTING

a. Secondary Research (already published)

i. Internet search

ii. Syndicated research studies

iii. Data from category publications, associations, websites, databases

b. Primary Research

i. Customer interviews (also sales personnel, channel partners)

ii. Customer/Channel surveys

iii. Focus Groups

iv. Test Markets, Beta Tests

c. Competitive Analysis

i. Patent research

ii. Reverse engineering

iii. Branding/positioning analysis

iv. SWOT analysis

v. Pricing analysis

vi. Market research to determine share, volume, channels

d. Testing

i. Concept testing (interviews, focus groups)

ii. Product evaluation (interviews, focus groups)

iii. Copy testing (interviews, surveys or focus groups)

II. PRODUCT PLANNING

a. Market Definition

i. Market segments

ii. Customer identification (demographics, titles, units)

iii. Channels

b. Product Definition

i. Feature set, functionality, accessories

ii. Prototypes

iii. Competitive positioning (comparison, differentiation)

c. Sales Objectives (Revenue, Volume, Margin)

i. Pricing (trade, discount schedules)

ii. Cost analysis

iii. Market share, other measures

III. MARKETING STRATEGIES/TACTICS

a. Branding

i. Re-branding, Sub-branding

ii. Naming

iii. Identity (logo, graphic theme)

iv. Trademark search, trademark registration, identity standards

b. Internet

i. Website development, re-development, microsites, landing pages

ii. Search engine optimization (SEO), search engine marketing (SEM)

iii. Social media (profiles, followers, blog and forum posts)

iv. Email campaigns (landing pages, registration forms)

v. Webcasts, webinars, web conferences

c. Advertising

i. Media (research, planning, placement, traffic)

ii. Print (trade publications)

iii. Online (banners, directories, Google AdWords)

iv. Broadcast (TV, radio)

d. Publicity

i. News releases

ii. Press list

iii. Press kit

iv. Press events

v. Article (writing and placement)

vi. Media relations

vii. Distribution (internet, wire service)

e. Sales Promotion

i. Programs

ii. Training (sales, customer service, customers)

iii. Contests, coupons, sweepstakes

f. Collateral and Content

i. Brochures, product sheets, flyers

ii. Catalogs, manuals, instructions, installation manuals

iii. Educational pieces (white papers, guides, how-tos)

iv. Electronic versions for web, re-purpose above for web

g. Trade Shows and Events (national, international, regional shows, dealer open

houses)

i. Exhibit design

ii. Booth graphics

iii. Pre-show promotion

iv. Inquiry management

h. Channel Marketing

i. Dealer or distributor programs

ii. Promotions

iii. Merchandising support, POP, packaging

iv. Training programs

v. Launch kits

vi. Retail line reviews

vii. MDF and Co-Op programs

i. Direct Marketing

i. Direct mail

ii. Database marketing

iii. List procurement, email, webcasts

j. Photography and Video (supports all tactics above)

 

Check out the ADVISORS New Product Launch Portfolio.

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