Launching and commercialising new products

Introducing a new product into the market is a significant business achievement. Launching your new product is your final, important step in the new product development (NPD) process. Deciding when, how and where to launch your product will determine its early impact on the market.

Your marketing strategy and plan will direct your product launch and help you make the most of your business and product exposure opportunities. Consider including some or all of these approaches in your new-product marketing:

Develop a direct marketing campaign

Direct marketing methods such as direct mail, email marketing and social media marketing can help you get straight to the customers in your target market.

Create your advertising plan

Plan and book your advertising well ahead. Analyse where your target market customers get their product information. Book advertising in industry print and online publications and consider product innovation publications.

Create communications materials

To support your launch you can create a product brochure and point of sale posters to draw attention to the new product.

Develop a public relations and news media strategy

Use public relations (PR) to your advantage. Mainstream media often pick up innovation stories. Launch a print and online news media campaign and target interested industry journalists.

Develop a sales plan

Develop a sales plan tailored to your new product. Sales planning helps you define strategies for your ideal customers and set realistic, healthy sales targets.

Develop a pricing strategy

Your pricing strategy should identify an entry-to-market price, a premium price and a minimum sale price.

Contact your distributors

Give your distributors plenty of forward notice of your new product launch. Use your forecasts to calculate the product numbers you'll need to meet your anticipated sales volume.

Also consider...