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The Three Phases of a Product Launch: Brand ROI Series
The document outlines the three phases of a successful product launch: the Brain Phase (pre-launch planning), the Work Like Crazy Phase (the first 6-12 months on shelves requiring fast adjustments), and the Love it or Leave it Phase (determining if the product is a success, marginal success, or failure within 12 months). It emphasizes the importance of understanding consumer behavior through modeling to plan effectively for all phases and ensure products meet or exceed expectations.
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The Three Phases of a Product Launch: Brand ROI Series
- 1. The three phasesof a product launch
- 2. Launching a newproduct… 3 possible outcomes: …Success & the “AHA’s” Meet or exceed expectations …Okay and WDWDN? Didn’t quite meet expectations, but also not a complete failure …Disaster & the AwS$$ts Way below expectations WDWDN: what do we do now?
- 3. We see 3phases to a product launch 1. Brain Phase (pre-launch) 2. The Work Like Crazy Phase 3. Love it or Leave it Phase (Immediate post launch) 12 months on the shelves and thereafter
- 4. The Brain Phase Pre-launch planning and development phase Gather consumer insights and knowledge Simulate a baseline plan Optimize the media mix Test and prepare for potential scenarios
- 5. The Brain Phase(Continued) Complete a risk portfolio Balance risk with expected returns Planning to win the first 6 to 12 months
- 6. The Work LikeCrazy Phase The first 6 to 12 months of life on the shelves “Planning is everything. Plans are nothing.” – Eisenhower Eisenhower knew that as soon as any battle begins the nothing goes according to plan. But planning for the contingencies allows fast and accurate decision-making to stay on the offensive and still be able to achieve the desired goals Make fast adjustments based on Competitive response Retail uptake External influences
- 7. The Work LikeCrazy (continued) Prior estimates are now facts - or not Adjustments need to be made (Media, sales, promotions, etc….) Monitor, review & Repeat
- 8. Love It orLeave It Phase The go/no-go to success It’s wildly successful How can we help keep the party going!?! Its marginally successful How can we diagnose what’s wrong and help fix it? It didn’t make it Diagnose what went wrong, figure out how to fix it, or support the no go decision making
- 9. Love It orLeave It (continued) Not successful? – How & Why? No-go – What? Why? What’s Next? More launches fail than are successful – How to avoid for the future?
- 10. Avoid the Aws$$ts;Deliver the Aha’s with Consumer centric modeling approach These three phases represent the critical requirements companies need to consider when bringing new innovation to market We’ve worked throughout all phases and have helped companies make significantly better decisions to: Plan the ‘Brain Phase’ better Enhance the ‘Work Like Crazy Phase’ to increase sales Deliver some Love for the ‘Love it or Leave it phase’ MarketSim is the Agent Based Modeler major brands can use to obtain the success they need
- 11. Building plans forsuccess with Consumer Centricity The only way to win is to understand the consumer Modeling consumer purchase behavior Projecting the future based on a deep understanding past consumer behavior Understanding consumer purchase behavior revolutionizes marketing planning for the most critical and most difficult strategic and tactical marketing decisions
- 12. ProRelevant.com Guy R.Powell Thank you We have an upcoming webinar series on this topic. If you’d like to learn more about how we can help you deliver successful product launches simply hit Get in Touch below: Or sign-up for our blog: @ http://www.prorelevant.com/the-marketing-calculator-blog/