How to Effectively

Launch
a New Product

PLANNING FOR A NEW PRODUCT LAUNCH PAGE 1

 MARKET RESEARCH:

 To determine:
– Target Market
– Market needs
– Positioning and strategy
– New product strengths and weaknesses
– Company strengths and weaknesses
– Packaging/ pricing

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 MARKET RESEARCH:

 Focus Group Meetings

– To distill product concept
– Key promotional messages
– Anticipate product resistances
– Know strong points of competition

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 PRELAUNCH:

 Marketing Plan
– Update of SWOT analysis
 Preparation of training materials
 Final marketing plan

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 PRELAUNCH:

 Field Force Training:

– Materials to be sent one month before launch
– With self-tests to check learning
 Selection of Key Accounts
– targeting and profiling
 Press Conference

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 PRELAUNCH:

 Final Launch Plan

– Emphasis on skill building
– Provide time for role play
– All information should be given prior to launch date
– Involve the field force in launch planning to get
“Buy-In” and generate enthusiasm

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 PRELAUNCH:

 Incentive plan, quota per Rep

 Distribution plan: initial stocking and terms
 Pre-announcement letters (teasers)
 Skills models
– Video models for use at launch role plays

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 LAUNCH:

 Launch letters
 Press relations
 Symposia
 Video news releases
 Press kit

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 LAUNCH:

 Formulary kit
 Product monograph
 Action plans per territory

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 DURING THE LAUNCH PROGRAM:

 Focus on Selling Skills

– MD selection
– Pre-call planning
– Probing for needs
– Features and benefits
– Clinical studies
– The effective use of the monograph

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 FOCUS ON SELLING SKILLS TO SELL
NEW PRODUCT:
 Cost effectiveness
 Handling objections
 Handling competition
 Ensuring that first trials are successful
 Group presentations

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 FOCUS ON SELLING SKILLS TO SELL
NEW PRODUCT:
 How to put the new product into the hospital
formulary
 Doing a Hospital Action Plan
 Presentations to nurses, pharmacists
 Sampling allocation and plan

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 LAUNCH:

 Gimmicks, posters, etc.

 promotion

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 POST LAUNCH:

 Analyze effectiveness of tactics and effectiveness of

message
 Analyze competitive response
 Market survey
 Handling queries

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 POST LAUNCH:

 Handling resistance
 Post launch bulletin
 Producing the Audio Cassette Training Program, Post
Launch Feedback
 Revising plans

PLANNING FOR A NEW PRODUCT LAUNCH PAGE 15

 POST LAUNCH:
 Celebrating successes
 Selling tips
 New ideas to reinforce messages
 Interviewing happy users of new product
 How to respond to Rep’s questions

PLANNING FOR A NEW PRODUCT LAUNCH PAGE 16

 NEW PRODUCT LAUNCH
(Tactics)

“The success of a new product launch depends largely

on the planning and preparation you invest in the
launch of your new product.”

“Proper planning, preparation and practice

prevent poor performance.”
- Perri

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