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This Product Launch Plan is used to guide a company to plan for the successful launch of a new product or of an existing product in a new market. This document provides a template for a company to devise its own launch plan. It sets forth numerous factors that a company must consider when launching a product and will help the company create a strategy to achieve its objectives. This document should be used by companies planning on launching a new product or entering a new market.
This Product Launch Plan is used to guide a company to plan for the successful launch of a new product or of an existing product in a new market. This document provides a template for a company to devise its own launch plan. It sets forth numerous factors that a company must consider when launching a product and will help the company create a strategy to achieve its objectives. This document should be used by companies planning on launching a new product or entering a new market. [Insert company name, logo, and tagline (if any)] [Insert Company URL] PRODUCT LAUNCH PLAN [MONTH, YEAR] [Insert an image that best represents your business or core mission] [Insert company contact including name, address, phone, and e-mail] Ex: ABC, Inc. ● 100 1st St. Baton Rouge, LA 70000 ● 866 555 3372 ● email@example.com © Copyright 2013 Docstoc Inc. 2 1. Executive Summary (The Executive Summary section provides a summary of the entire Product Launch Plan and is typically written only after the entire plan has been completed and finalized. Use this section to highlight key points of the product launch strategy without over-elaborating on details. If you have a business plan, you can use parts of your Executive Summary from that document to fill this out.) 1.1. Overview (Provide an overview of the company, the product, and market opportunity targeted in this Product Launch Plan.) Example: Moms & Babies, Inc. is the leading provider of high quality children’s products that are key innovations and creations of mothers themselves. The flagship store opened in Los Angeles, California in early 2010, and Moms & Babies is now a national retailer, with over 12 stores serving the United States. We are constantly adding new inventions to our catalogue of patented products, and we recently completed the filing of a new patent that will make a significant impact in our product line. 1.2. Target Audience (State the primary and secondary target customers, giving key insight to specific demographics and habits that make them your target audience.) Example: Moms & Babies, Inc. has identified two key target market segments that will increase the company’s market share and effectively increase bottom line deliverables. Primary Target Market: Families with children between the ages 2 and 6 This key market is constantly seeking ways of simplifying the responsibility of parenting toddlers, including easy clean up. Our patent pending no-spill snack cup is a hassle-proof, mess-free way to feed toddlers. Secondary Target Market: Daycare centers This market is always looking for new ways to organize, educate, and care for 15-30 toddlers at a time. Our patent pending no-spill snack cup will help daycare employees to manage their responsibilities while keeping the eating area clean and sanitary. 1.3. Positioning (Provide the key positioning message and strategy. Explain how your product is different and why this targets the current market opportunity and benefits your customers.) Example: The no-spill snack cup will pioneer the market as a leading mom invention that makes parenting more fun and mess-free. Although no-spill cups have been a parenting mainstay for years, there hasn’t yet been a way to keep little ones from making a mess with cereal, crackers, pretzels, and other small snacks that can easily be thrown or spilled all over the floor. © Copyright 2013 Docstoc Inc. 3 1.4. Key Advantages & Benefits (Describe the key advantages of being associated with this product and how it can benefit the target market stated above.) Example: With its low manufacturing cost and patent pending status, the snack cup is a one-of-a- kind innovation that is BPA-free and prevents children from spilling food and crumbs, keeping homes and cars safe and clean. 1.5. Sales Forecast (State sales figures for the estimated number of units that are projected to be sold upon implementation of this product launch strategy, and detail what revenues this would translate to.) 1.6. Schedule (Describe briefly the launch schedule and core activities or promotional periods within the launch plan.) 1.7. Budget (List key budget recommendations and what the total budget proposal is for this launch plan. It is also recommended to include a break-even analysis with your budget. ) © Copyright 2013 Docstoc Inc. 4 2. Marketing Launch Strategies (Marketing Launch Strategies are plans that you have put together to meet your objectives. State all strategies in this section, making sure to elaborate on why this strategy is effective and how it will reach your target audience.) 2.1. Objective (State the main objective of this launch plan. Objectives are very specific statements that reflect what you want to achieve with this market launch. You can include a timeframe or any measurable activity in your statement.) Example: Moms & Babies, Inc. aims to be the top retailer of parents’ innovations in the United States. Introducing the first patent pending, no-spill snack cup in December 2011 will help the company to achieve widespread brand recognition. 2.2. Strategy (State key launch strategies and describe how the strategy will reach the target audience. Effective strategies describe how the objective stated above will be achieved. You may use more than one strategy when necessary.) Example: Moms & Babies, Inc. will utilize core direct marketing tools and road shows to reach mothers of children between the ages of 2 to 6. Our street marketing teams will target busy shopping malls and other popular locations using booths, mobile display carts, and giveaways for 12 weekends beginning December 15, 2011. 2.3. Marketing Tools & Tactics (List specific tools and tactics that you will be utilizing for your launch plan. List them in order of priority, providing a brief explanation of what or how they will be used. Tactics can include public relations, direct marketing, social networking, contest and giveaways, in-store sales, and many other activities commonly used to launch new products.) Examples: - Direct Mail Invitations: Moms and Babies, Inc. will send personal invitations to our existing database of mothers, inviting them to our members’ only preview of this new product innovation. - Cute Baby Contest: All mothers who stop by our store or booth will get a picture of their child taken for entry into our “Cute Baby Contest.” © Copyright 2013 Docstoc Inc. 5 3. Product Release Milestones (This section states the product release milestones in chronological order. State key milestone dates of when the public can expect to preview the product/service, or when it will be available for sale.) 3.1. Target Product Announcement Date (State the targeted date when the first marketing piece or press release will be released to the public on this product.) Example: On November 1, 2011, a press release for this product will be released to parenting magazines and websites. On November 15, personal invitations will be sent to our existing database of mothers, inviting them to a members’ only preview of the product. 3.2. Target Product Launch Date (State when you are officially launching the product or when the product will make its first public appearance.) Example: The official product launch will be on December 1, 2011, which is planned to be just in time for the holiday season. 3.3. Target Product Retail Date (If your product will hit shelves at a specific time, state when it will be available for purchase and what stores will be selling it.) Example: The product is planned to hit shelves on December 12, 2011, at the same time when the Pre-Christmas special is announced. It will be sold on Moms and Babies, Inc.’s website and in major retail stores, including A, B, and C. © Copyright 2013 Docstoc Inc. 6 4. Plans & Deliverables by Department/Function (In this section, state the roles and functions of each department involved in implementing this Product Launch Plan. Include which department will handle specific tactics of the launch plan and state actual deliverables in terms of timeframe, deadlines, or expectations.) 4.1. Direct Mail – Direct Marketing Department Example: As a key marketing initiative for this new product launch this winter, Moms & Babies, Inc. will use direct mail to announce all activities and invite key members for product previews, sales, and other activities. Direct mail will also be used to generate awareness and new product trials. - Target mothers with young children age 2 – 6 years old - To send one direct mailer every 2 weeks to targeted households. - Direct mail will include: o Personalized invitations to the premier in store o Coupons o Announcement of new product launch and contests - Target mailing dates are: o November 15, 2011- New Product Announcement o December 12, 2011 – Pre-Christmas Special o January 2, 2012 – New Year Special o January 14, 2011 – Refer a friend program - Evaluation: o Track response rate of invitations o Use of coupons o Number of contest participants 4.2. Public Relations 4.3. Contest and Giveaways 4.4. Road Shows 4.5. Coupons 4.6. Radio Advertising 4.7. Refer a Friend Program © Copyright 2013 Docstoc Inc. 7 5. Financials – Budget Recommendations (State all dollar budgets in the table below, broken down by the activity or tactic deployed. This table is categorized into Month 1, 2, and 3, as this is a three-month launch plan. You can also develop launch plans of longer or shorter periods of time.) Example: Marketing Activity/Tactic Month 1 Month 2 Month 3 (Nov 15 – Jan 14) (Jan 15 – Feb 14) (Feb 15 – Mar 14) Direct Marketing Public Relations Contest and Giveaways Advertising Road Shows Radio advertising Refer a Friend Program TOTAL LAUNCH BUDGET © Copyright 2013 Docstoc Inc. 8 6. Pricing (State your pricing strategy for your product or service, and describe why your proposed pricing strategy is ideal for the business and how it might be affected by any launch discounts given. Be specific about which prices apply to which sales channels.) 7. Manufacturing and Operations (List the targeted manufacturing schedule and proposed shipment dates that need to be in place in time for your product launch. It is recommended that you state details, such as materials to be delivered, where the products are coming from, or if the shipment is for a finished product or parts that need to be assembled. ) 8. Customer Service (Use this section to list preparation work needed to develop a great and efficient customer service strategy. State training dates, service protocols, preparation of training manuals (if any), and other relevant details. You may also use this section to list all technical support strategies and plans if your product or service requires technical support for customers.) 9. Risk Analysis (Risk Analysis is used to access any key risks involved in launching this product or service. Describe in detail any risks involved, including possible lawsuits (from patent filings or competitors), loss of market share, or any other possible factors.) Example: Risk #1: Mitigation or Intellectual Property Lawsuits Patent filed is among 4 other patent pending inventions that are similar in nature or of similar properties. Risk #2: [Description] 10. Launch Status Communication Plan (Describe all reporting protocols or accountability reporting metrics involved in the launch plan, how they will be communicated, and when to expect them. Also state what can be expected in each report.) © Copyright 2013 Docstoc Inc. 9 11. Appendix: Supporting Marketing Information (Include all supporting documents in this appendix including) Some examples: Target market demographics and profiles Sample User Profiles Feature/Function/Benefit Table Articles or Media reports Launch Status Communication Plan: Status Report Template Competitive Background Glossary or index © Copyright 2013 Docstoc Inc. 10
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