Your Step-By-Step Guide to Launching a New Product

Jan 27, 2020

Your Step-By-Step Guide to Launching a New Product

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As the old saying goes, “The road to hell is paved with good intentions.” The same can be said for product launches, as they are usually carried out with the best of intentions. Unfortunately, your motives will only get you so far. Any product launch requires strategy and support to help it succeed. Otherwise, the product may find itself dragged into the infernal pit of obsolescence.

You don’t have to look far to find examples of bungled launches. Ford’s Edsel crashed and burned in the 1950s because the manufacturer couldn’t articulate its relevance to consumers. Coca-Cola had to retract its infamous New Coke within a few weeks of its debut in the 1980s because of widespread anger and derision. Not to be outdone, Pepsi wheeled out their universally despised Crystal Pepsi in 1992. And, perhaps most disastrously of all, Frito-Lay introduced the world to their fat-free WOW! Chips in 1998. Problem was, the chips contained a proprietary ingredient that gave people stomach cramps and diarrhea.

On the flip side, you can also find case studies of companies that effectively matched their precious products with research, targeted advertising, and strategy. Nike exhibited all of these hallmarks with their launch for the new Epic React running shoe last year. The company constructed “House of Go” pop-up events around the globe, allowing consumers to experience the shoes in-person. The response was overwhelmingly positive, thanks to people buying into the unique aspects of the events and, ultimately, buying into the shoes.

“The most important step is to have a clear vision of what you are setting out to accomplish,” suggest Monika Salazar, a brand strategist. “Then that vision should be captured into key phrases and art, in order to be used consistently throughout the event, from communication, invitations and gift bags to the table settings, lighting, and more. The vision should include that brand experience, how you would like your guests to feel, and what action step you would like them to take.”So, how can you make your next product launch a House of Go rather than a pain-inducing potato chip? This step-by-step guide will show you the key steps to setting your product up for success. Truth is, even great products can fail. But if you lay the groundwork for an effective launch, you’ll give your product every chance to take the world by storm.

About the Author

Grant Olsen

Grant Olsen

Grant Olsen is a writer specializing in small business loans, leadership skills, and growth strategies. He is a contributing writer for KSL 5 TV, where his articles have generated more than 6 million page views, and has been featured on FitSmallBusiness.com and ModernHealthcare.com. Grant is also the author of the book "Rhino Trouble." He has a B.A. in English from Brigham Young University.

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