What is Product Launch?

Product Launch Definition

A product launch is an organization’s planned and coordinated effort to bring a new product to market and make it available for purchase by consumers.

FAQs

What are the three types of product launch?

The three types of product launches are:

  1. Minimal viable product (MVP) launch – A barebones product with core functionality is presented to select target audience members to give them a taste of how the product will perform. Based on their feedback, modifications are made to the product prior to conducting a full-scale launch.
  2. Soft (beta) launch – The product is released to a small target audience or a limited demographic or geographical area. At this point, small changes may be made to the product before conducting a full-scale launch.
  3. Hard (full-scale) launch –The product is introduced to as wide of a target audience as possible using a multipronged marketing approach.

*Source: https://www.qualtrics.com

Why is a product launch important?

It’s just as vital to launch your product as it is to produce a wonderful product. Customers will be unaware of your solution if you don’t do a good job launching it, and you may not meet your revenue and profitability targets.

*Source: https://280group.com

What is included in a product launch?

A successful product launch should include:

  • Clear goals and objectives
  • Strategy for bringing the product to market
  • Plan for engaging with team members, prospects, and existing customers
  • Checklist of pre-launch activities
  • System for measuring success

*Source: https://www.qualtrics.com

The Cost
of
Mistakes

Delivering new products to market is challenging. And It is difficult to see the cost impact of one or more mistakes.

Try our calculator to estimate the impact on your business. Input your business details, select a challenge, and see the real-world cost impact as validated by our customers.