50-4 |
Product launch innovation, from concept to commercialization |
J. SCHNEIDER, Schneider & Associates, 585 Boylston St., Boston, MA 02116 The new product launch phase is a critical part of the total new product development process. With the dramatic escalation in the number of new products--nearly 32,000 new consumer packaged goods were introduced in 2000 versus only 15,000 in 1990--competing for consumer attention, the quality of launch programs greatly impacts the success of product introductions. Done well, a launch helps a new product rapidly establish itself among its target users. Done poorly, a launch can negate all the time, money and human capital that went into developing the new product if it fails to achieve commercial success. Why is it that so many consumer products companies are spending years to research and develop new products but only minutes to market them? To find some answers, Schneider & Associates (S&A), a Boston-based public relations firm with 20 years of experience in product launches, commissioned an extensive study entitled the SCHNEIDER & ASSOCIATES/BOSTON UNIVERSITY NEW PRODUCT LAUNCH REPORT. Nearly 100 senior marketing executives from major consumer packaged goods, sporting goods, apparel, shoes and health & beauty companies were surveyed about "the good, the bad and the ugly" aspects of their own new product launches. The study reveals substantial differences in the product launch activities of highly successful market introductions versus less successful product debuts. Based on the Launch Report results and S&A's own launch experience, we've developed a "Countdown to Launch" presentation that details several factors that contribute to successful product launches. Some of the factors covered in the session will include: why "new" products reach the moon faster; consumer-focused spending spells success; and the important role of public relations. In this session Ms. Schneider will cover these and many other factors that lead to a new product's success.
Session 50, Getting breakthrough results from product innovation: A practical approach
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