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New product launch

A successful new product launch needs research, planning and a skilled and knowledgeable marketing activity. We plan and execute product launch process on behalf of you outside Korea. The product must fulfill consumer needs and provide an emotional connection through its promise and brand. Businesses often make the mistake of presenting new products to consumers without adequate research or strategic planning. The consumers always demand products that satisfy them on many levels including quality, price, status and function. We prepare a new product launch strategy for the best chance of success with your new product.

A new product launch strategy defines several stages of the launch including development, internal testing, external testing, objective and goal setting, positioning, excitement building and promotion timing. If necessary, we work with your design team to develop a product that fits a customer needs. The objective and goal-setting stage involves setting sales and revenue goals for the launch event for a set future date.

We work on “positioning” of the product relative to the competition and begin marketing tactics designed to build excitement. The launch event must take place at the ideal time for sales maximization.

A comprehensive new product launch strategy provides a plan for maintaining the momentum gained during the pre-launch activities and launch event. This plan may consist of post-launch promotional campaigns and customer incentives, as well as informational vignettes about the history of the product’s development, challenges overcome along the way and lessons learned. People often enjoy reading about the details of new product development and the anecdotes can gain consumer trust and loyalty.

Consider if adding the product to the current line-up will augment brand equity or detract from it. Brand equity is an intangible asset governed by consumer perception of the overall company brand. Introducing products that do not align with business objectives and vision may detract from brand equity, causing customers to back off from the brand entirely. Make certain new products offer value in conjunction with current products or keep with the product theme.