Market launch summary

05.11.2020 | Business Know-How

In order to bring a product or service to the market after development, there are various necessary considerations and planning. When is the right time for launching and how much time is needed for launching preparation? To which market level should the product be offered – from local to international? What are the potential target group of customers? How should the product be marketed? Besides advertising measures, there are also plans related to pricing, distribution channels and design aspects.

Suppliers and Partners Selection

Depending on the product, cooperation with different partners is necessary. In addition to price, quality, delivery time and reliability are also important factors when working with suppliers. It may even be possible to involve suppliers in the founding process via different models. A long-term cooperation is often advantageous. However, to avoid dependence on one supplier, founder should establish contacts or business relationships  with different partners.
In order to bring a product to the market and  customers, it is advisable to cooperate with a suitable distribution partner. Contractual arrangements should be carefully examined and adapted to developments.

Customer Acquisition

How to reach and acquire customers depends on the product, target group and budget. It is recommended to combine different methods. Besides the different possibilities of online marketing, “Guerilla marketing” also involves classical print media, advertisements or other offline media. It is crucial to cultivate relationships as soon as you acquire customers, since they have already decided for the product or at least shown interest in it.

Product Optimization

A continuous development is usually required for a long-term business success. However, process of test runs with test users can already be implemented in the development phase, and the results can be incorporated into product development. This allows an evaluation of the customer benefit before the market entry. Customer wishes, competitive behavior, technical, social and political developments usually require adjustments and further developments of offered product after its introduction and establishment . Production costs can be reduced or capacities increase. Quality, efficiency and customer satisfaction can be increased by product enhancements or new products can be developed.

Here you can find the detailed information about market launch

Prof.Dr. Bernhard Plum / Prof.Dr.Michael Gehrer / Prof.Dr. Jürgen Schmidt
Existenzgründung für Hochschulabsolventen
Freiburg 2016