Launching A Product: Few Things You Must Know

By Author: Vijay K Shetty
Total Articles: 129
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Yippee! A new blackhead scrub! I'm gonna try it!

Every such shriek of joy that sends through an average citizen is a covetous asset for a firm. This is that for which they invest millions of money and countless research hours: to make miracles in ordinary lives, through a product. After due research about the market and keen analysis on what product will thrive and what adaptations has to be made, from bell pins to butter cups, plans on research are made. One successful product means there are thousands of failed, erred ones behind it!

If you have put that successful idea into implementation and are all set to launch that product into market, there are a few things you must know pre and post the launch. First and foremost you must be clear about the product that you are making and you must have a clear vision about the product. Before the launch you must define the target market and should be ready with a marketing plan and platform. You must make sure the product is thoroughly tested and tried before it goes out into the market. ERP set up, vendor qualification and selections, and package design are important ...
... aspects of pre launch that forms important part of product launch.

You must have a clear idea about the launch of the product along with the marketing and advertising channels. Once you have decided on how you will make the launch of the product, you need to define sales and distribution channel for the product.

Then the firm has to cross a quagmire: patents. A thorough patent search should be made to verify that the product or the idea does not resemble the intellectual innovations of another company. This falls within the company's freedom to operate (FTO).

The following are a few points that controls patents :
- Patent protection is only territorial
- A patent expires in twenty years

The patent is not valid outside the domain of the main business. During the lifetime of the patent, a maintenance fee must be paid. After the expiry of the patent, the product falls to public domain.

With this research, planning and manufacturing comes promoting. The new product has to be launched as it creates faster time to market and faster time to profit. With an effective launch the product reaches all sections of people both interested and not interested. The company can better their organizational ability and concentrate on the new product line. Even if the success rate can be ascertained only later an effective launch is a conspicuous make over to the company!

Vijay K Shetty, Ezine Articles Expert Author.For more information: New Product Launch


Get more information: Pharmaceutical Market Research