Launch 2012 april 2012 final
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This document discusses the new product development and product launch process. It begins by noting the importance of NPD and product launches for companies, with only about half of new products meeting their sales goals. It then covers the key stages of pre-launch including validation and testing, researching customers, external partnerships, and internal preparation. For the launch, it discusses determining when, who the target customers are, where to launch, and how to structure a detailed launch plan. Post-launch involves measuring performance against goals.
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Launch 2012 april 2012 final
- 1. NPD and Product Launch • Brand Management System • On Building A Marketing 460 Brand – Price Product Management – Launch Fuqua School of Business • P/L • Elements • Launch – Place – Promotion • Managing Across Brands NPD–1
- 2. Agenda • Fiveonenine games Overview • The NPD/Launch Process NPD–2
- 3. fiveonenine games Previously GM, International Publishing at Disney/Playdom Co-Founded and sold Merscom Graduated Fuqua NPD–3
- 4. Not Just Facebook NPD–4
- 5. New Products • On average, new products account for 28% of firms’ revenues (American Productivity and Quality Control Study) • Only half launch on time or meet their sales goals (APQC) • Thus, new product development (NPD) and product launch are critical NPD–5
- 6. Example NPD–6
- 7. NPD/Launch Overview • Pre-Launch – Development, Testing and Validation – Research Your Users • Launch – When – Who (customers) – Where – How (launch plan) • Post-Launch – Measure Against Goal NPD–7
- 8. Pre-Launch: Validation and Test Source: PDMA Handbook Source: PDMA Handbook NPD–8
- 9. Pre-Launch: Validation and Test • Half of all projects omit market studies and test markets! • Speed is key concern, but often solved with project teams. – Should be cross functional – Cradle to launch – With shared information and accountability NPD–9
- 10. Pre-Launch: Customers • Involve Your Customers – Speeds time to market – Creates points of parity and difference – Creates evangelists – Generates critical mass at launch – Cross pollinate – Examples include Boeing, 3M, B&D, Rubbermaid, Bosch, P&G, Philips, Sony, others (Alam 2005) NPD–10
- 11. How? • Customers join NPD team (as above) • Internet • Observation – Interaction with similar products – Interviews, focus groups, retreats, trade shows, store visits and customer visits • We run mock Facebook ads • Johnson controls observes consumers loading cars to design automotive interiors • Rubbermaid visits customers’ houses • Alpha and beta tests NPD–11
- 12. How? NPD–12
- 13. Caveats to Pre-Launch Research • Customer feedback too myopic – Philips interviews MDs for stethoscope, but did not realize key uses in free clinics, homes, streets, etc. Needed redesign for noise filter • Customer feedback is too backward looking • Competitive secrecy is compromised NPD–13
- 14. Pre-Launch: External Partners • Media • 3rd Party Partners – Write what you wish to see – Rating and Safety written Boards – Target customer, reasons to buy, – Logistics quotes, benefits etc. – Suppliers – 30 – 60 days prior to announce (long lead press) • Channel – Supply chain concerns – Cooperative marketing programs – Seasonal issues – Competitive Products NPD–14
- 15. Pre-Launch: Internal • Sales and Customer • Other Marketing Support Communications – Develop sales guides (key – Public relations (PR), ad talking points, development and media competitive positioning, purchase, direct mail, web, overcoming objections, mail, trade show displays, etc.) demos, etc. Long leads – Customer support here, too. reporting systems and • Intra-Company warranty and Coordination replacement policies – Other Business Units – Training programs NPD–15
- 16. Pre-Launch: Media “…It's something of a serious tablet when compared to the competition running software from Apple and Google and, while it certainly has games, its biggest strengths are rather more boring. It does a really great job at displaying PowerPoint presentations, for example, and has the security chops to keep last quarter's dismal sales figures from falling into the wrong hands. Exciting stuff? No, but useful features…” NPD–16
- 17. Launch: When • Is really three choices – Announce vs. ship – Beta vs full product – Function of buying cycle and competition • Ship limited product early or richer product late – Fiveonenine has three games tied to election, timing based on Conventions NPD–17
- 18. Launch Plan: When • Operating concerns – When is revenue needed? – When are channel partners ready? – Are competitive innovations imminent? – Internal company priorities – Key market events (trade shows like Mac World) – Simultaneous or staggered international launches – When are customers ready? • State government buying season ends in May • Federal in September • Europe is “closed” in August NPD–18
- 19. NPD–19
- 20. Launch Plan: Who • Customers and Channel – Product mix, revenue goals, co- promotion • Applications – If platform • Analysts – Press – Financial • Internal – Sales force, customer service, 3rd parties NPD–20
- 21. Launch Plan: Where • Local or Global • Phased or Current • Trade-off between speed and quality – Resources for sales – Location of key customers – Capital constraints in production NPD–21
- 22. Launch Plan • The details of who does what when and where NPD–22
- 23. Launch Plan: Structure • Steps • Resources • Interlocks • Goals – Specific – Measurable – Achievable – Realistic – Time Bound NPD–23
- 24. Launch Plan Responsibilities Operations Training and Presentations – Finalize offerings in – Train the teams, train regions the trainers, then let – Bill of materials them train others – Schedules – Prep tech support, – First article check customer services, – Forecasts direct sales reps – Full operational Store and Trials capability – Coordination with – Localization, store and trial— international scheduling and posting Packaging of bits all languages – Screen Shots – Box Copy NPD–24
- 25. Launch Plan: The Event • Usually at a conference or global sales meeting (as in Black and Decker) • Microsoft rolls out XP to sales force NPD–25
- 26. Post Launch: Measurement • Financial • External Factors – Sales – Channel – Profits penetration – Share – Competitive – Retail Price response • Consumer and branding – Awareness – Brand associations – Downloads and web hits – Seminar attendees – Press and blog mentions NPD–26
- 27. NPD/Launch Overview • Pre-Launch – Development, Testing and Validation – Research Your Users • Launch – When – Who (customers) – Where – How (launch plan) • Post-Launch – Measure Against Goal NPD–27
Editor's Notes
- New products are critical but most of them fail, getting them right is critically important
- How important it is vis a vis the company, how we had a drought,
- What we are going to talk about todayThe process involves pre-launch, launch and post launchPre-launch is testing, validation, and research researchresearchLaunch is howPost launch is measurement against goalSpend 1-2 minutes
- This is from PDMA HandbookPick one and give a personal example of what we didSurvey of a broad range of people tasked with new product development, look how critical it is to run the numbers, doa market assessment and technical assessmentCompare best and worst performersWhy won’t someone do thisHere is an example, idea generation
- Half of all projects emit market studies and test markets. Speed is the key concern. How can you be faster. A lot of companies form project teams. Team shares info, also has accountability for the success.
- The notion you can involve customers in pre-launch process.When you do involve your customers speed time to market, create points of different (what makes product unique) and points of parity (what makes it similar) , creates evangelistsExample
- Here are a bunch of different ways you can do itExplain alpha and beta test and how it is different in different industriesTalk about how we run ads that link to nowhere
- What is clear from this is beta testing and customer site visits is centrally importantHere is some real evidence alpha and beta testing of companies are doing it and really mattersLess important is customer site visitsDepends on the company
- Customers are often wrong and students should know that Customers are backward looking
- Other partners to worry about. Need to come up with a media plan where you control the narrativeSupply change needs to be alerted so you can get shelf space3rd party partners are often parts of systems, they need to be notified of timing
- Before we roll out, have to have the sales force ready. They are ready when they go out trying to sellWith Markcomm, they are someone you need to talk toTalk about trade show displays, how it has to be planned. Give an example. Tell them how bad they can screw up.
- I just covered pre-launch, will now talk about launch. A little more ambiguous. Announce vs ship. Announce can hurt in that people stop buying current product. Beta vs full productReplace second bullet point with example from me
- Operating systems, when are customers ready
- As part of launch this tradeshow
- Customers and channel is shown by Netflix partnering with Best Buy
- How quickly you launch, if you are constrained on resources may do more of a phased launch. Same with capital constraints.Lose Hyperlink.
- Something that Carl got from Adobe
- Move it to before slide 27
- Students love the clip. This was their meeting to internal salesforce and key distributors, shows the need to build excitement around a launch
- What we are going to talk about todayThe process involves pre-launch, launch and post launchPre-launch is testing, validation, and research researchresearchLaunch is howPost launch is measurement against goalSpend 1-2 minutes