Each year, more than 75 percent of all new products fail. Perhaps one reason is that many companies do not pay enough attention to the actual product launch phase of going to market, argue Joan Schneider and Jeanne Yocum, authors of New Product Launch: 10 Proven Strategies.
The book begins with an investigation of the hurdles that new products face in the twenty-first century including constantly shifting consumer behavior, demographics, distribution channels, and media trends.
The authors suggest treating the launch as an independent stage of product development, modifying Robert Cooper's widely used Stage-Gate process by adding a sixth stage—the market launch.
The book provides insights into assembling an expert launch crew, the importance of timing and flexibility in planning and implementation, the advantages that come with a bigger budget, consumer-focused spending, and the role of public relations. The authors stress the importance of igniting your launch team's creativity and explain how to achieve it. Case studies illustrate key points along the way.—Poping Lin