Marketing strategy for product launch Marketing strategy for MouthX launch Establish the launch plan: Product launch is a long process that involves a number of people whose individual input determines success of the process. Some companies do this event as a one off event; this is very inefficient since in developed countries like Canada have consumers who use numerous channels to access information. My team creates process timelines to ensure MouthX is released at the appropriate time in the market, and source for launch ideas from a number of people in the production chain who are conversant with its intricate details.
We ensure that we are at the same page with product managers at all times to avoid last minute adjustments when they later realise some components are missing. The launch plan will also list, in a detailed format, the advertising channels used (Hultink, 1999). Description: We will give the product a one sentence description, consisting of more than five words, but not long so long to make it have ambiguous meaning. It is written in clear and direct language, for the potential clients to understand at a glance its components and benefits.
This one line statement classifies the product in its rightful form, for instance, the customers learns if it is a tool, service, commodity or a solution (Schneider & Yocum, 2004). A suggestion for our product particulars could be: MouthX: Antibiotic prevention and treatment of gingivitis tooth decay, post oral surgery and high bacterial loads. This is the message that will be repeated during product launch campaigns till it is reinforced in potential customers mind, this makes them familiarise with MouthX and can easily opt for it when displayed next to less recognised brands. Visual image: A new product in the market needs a strong visual impact so it can attract customer’s attention when displayed at the shelves.
The logo or other symbols used will be unique for quick identity, and promotes the product’s consumer benefits. These symbols and by-lines are also used to design promotional materials for example, banners, product brochures, packaging, and materials for electronic media. Many consumers buy products just because they are well packaged, without going to the specific components and ingredients; good cover design also determines company credibility.
We will also give a clear warning that MouthX is not be used by children because of its chemical ingredients (Cooper, 2005). Use multiple media: Canadian society is composed of sophisticated citizenry who use varied media to access information, and forms of consumption are changing due to improvements in technology. Long gone are the days when a mere press release was used to introduce a product in the market. In launching MouthX, we will advertise in both print and electronic media, design posters and billboards with bright graphics and visible texts, organise sales promotions and road shows to reward customers with free samples, this is necessary when testing market reception as we give our audience promotional packs to give feedback about its use.
We will stream adverts on public video sharing websites, and create fan pages in social networking sites to give it an online presence thereby creating hype, Stakeholder participation: According to Shanthi (2006), product launch is a multi-faceted process that requires input and participation of a number of personalities all involved in making sure the process runs smoothly.
As the team responsible for MouthX launch, we got to work way ahead of time to meets deadlines. All guests and participants at the official launch confirm their attendance early enough to plan for reservations, we make presentations to the management team on product components, its selling points and packaging. After the process is complete, we measure market reception as determined by sales volumes. References Schneider, J., & Yocum, J. (2004). New product launch: 10 proven strategies. Deerfield, Ill. : Stagnito Communications.
Shanthi, N. M. (2006). Product launch management: concepts and cases. Hyderabad, India: ICFAI University Press. Cooper, R. G. (2005). Product leadership: pathways to profitable innovation (2nd ed. ). New York: Basic Books. Hultink, E. J. (1999). New consumer product launch: strategies and performance. Glasgow: University of Strathclyde, Dept. of Marketing.