Introduction
Who should attend:All staff concerned with their organization’s growth and profitability. This could include business development managers, marketing, sales, product and brand managers, Research and Development managers and personnel, managing directors and directors involved in product launch and management.
Objectives
- Examine all aspects of the New Product Development (NPD) process, and the factors influencing all the stages involved in a successful NPD.
- Identify a variety of launch success factors that will improve launch process planning and execution.
- Point out ways for companies to avoid launch ruts by adopting techniques that appeal to today’s consumers.
- Understand the importance of using media vehicles to ignite the product launch process and increase the viability of the new product.
- Prepare product launch checklists and budgets to overcome roadblocks and manage the launch process.
Content
The Product in Theory and Practice
- Product versus Brand Definitions
- Product Management versus Product Marketing
- Product Classification and Types
- Product Factors Influencing Competitiveness
- Categories of New Products
- Product Characteristics
- The Product and the Marketing Mix
The New Product Development Process
- New Product Defined
- The Seven Key Steps in New Product Development
- The NPD Success Factors
- NPD Reasons for Failure
- Strategy Tools: The Product-Market Expansion Grid
- NPD Strategic Options
The Product Life Cycle and New Product Launch (NPL)
- Stages in Product Life Cycle
- Product Life Cycle Strategies
- The Stage-Gate Process: Structuring the NPL
- The Boston Consulting Group Growth Matrix
- Analyzing Marketing Opportunities
New Product Launch: Setting Up the Stage
- The Launch Frenzy and Hurdles
- Type of Launches (Soft, Minimal and Full-Scale)
- New Product Launch Budgets
- Preparing the Product Launch Checklist and Toolkits
- Elements of a Successful Launch
- The Launch Plan Components
- Setting the Product Marketing Mix and Positioning
New Product Launch: Full Engagement Launch
- The Role of Advertising Agencies
- Selecting Media Types
- The Role of the Promotion Mix
- Factors Affecting the Promotion Mix
- Strategy Execution:
- Preparing the “Market Requirement Document”
- Preparing the “Product Requirement Document”
- Roadmap for an Effective Launch Plan
- Adding a Tagline (Brand Evolution)
- Creating a Positioning Strategy
- Writing a Press Release
The NPL Workshop: Putting it All Together
- Designing and Conducting a New Product Launch
- Presenting the Launch Plan
