the three phases of a product launch: brand roi series
DESCRIPTION
New product launches can be successful or fail...to ensure success, there are three phases to be completed. 1. The brain phase 2. Work like Crazy phase 3. Love it or Leave it phase. These three phases combined with Agent Based Modeling software, will help prevent failure and success achieved!TRANSCRIPT
The three phases of a product launch
Launching a new product…
3 possible outcomes:
…Success & the “AHA’s”
Meet or exceed expectations
…Okay and WDWDN?
Didn’t quite meet expectations, but also not a complete failure
…Disaster & the AwS$$ts
Way below expectations
WDWDN: what do we do now?
We see 3 phases to a product launch
1. Brain Phase (pre-launch)
2. The Work Like Crazy Phase
3. Love it or Leave it Phase
(Immediate post launch)
12 months on the shelves and thereafter
The Brain Phase Pre-launch planning and
development phase
Gather consumer insights and knowledge
Simulate a baseline plan
Optimize the media mix
Test and prepare for potential scenarios
The Brain Phase (Continued)
Complete a risk portfolio
Balance risk with expected returns
Planning to win the first 6 to 12 months
The Work Like Crazy Phase
The first 6 to 12 months of life on the shelves
“Planning is everything. Plans are nothing.” – Eisenhower
Eisenhower knew that as soon as any battle begins the nothing goes according to plan. But planning for the contingencies allows fast and accurate decision-making to stay on the offensive and still be able to achieve the desired goals
Make fast adjustments based on
Competitive response
Retail uptake
External influences
The Work Like Crazy (continued) Prior estimates are now facts - or not
Adjustments need to be made (Media, sales, promotions, etc….)
Monitor, review & Repeat
Love It or Leave It Phase The go/no-go to success
It’s wildly successful How can we help keep the party
going!?!
Its marginally successful How can we diagnose what’s wrong
and help fix it?
It didn’t make it Diagnose what went wrong, figure
out how to fix it, or support the no go decision making
Love It or Leave It (continued)
Not successful? – How & Why?
No-go – What? Why? What’s Next?
More launches fail than are successful – How to avoid for the future?
Avoid the Aws$$ts; Deliver the Aha’s with Consumer centric modeling approach These three phases represent the critical requirements
companies need to consider when bringing new innovation to market
We’ve worked throughout all phases and have helped companies make significantly better decisions to: Plan the ‘Brain Phase’ better
Enhance the ‘Work Like Crazy Phase’ to increase sales
Deliver some Love for the ‘Love it or Leave it phase’
MarketSim is the Agent Based Modeler major brands can use to obtain the success they need
Building plans for success with Consumer Centricity
The only way to win is to understand the consumer Modeling consumer purchase behavior
Projecting the future based on a deep understanding past consumer behavior
Understanding consumer purchase behavior revolutionizes marketing planning for the most critical and most difficult strategic and tactical marketing decisions
ProRelevant.com
Guy R. Powell
Thank you
We have an upcoming webinar series on this topic. If you’d like to learn more about how we can help you deliver successful product launches simply hit
Get in Touch below:
Or sign-up for our blog: @ http://www.prorelevant.com/the-marketing-calculator-blog/