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.


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

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

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