Launching a new Product

What factors must be considered to launch a new product?

We have STP analysis to analyze where to launch a product. We also have 4P analysis to know how to launch a product. But, the most difficult question for a marketer is, “what factors must be considered to launch a new product”?

Let’s make the life of a marketer easy by going step by step.

·       Naming convention: Finding a name which has not been preregistered by a company is not very easy. It must not be so cumbersome that people find it difficult to pronounce it. Also, it shouldn’t be similar to an existing product or people get confused with it.

On a wide classification, there are 3 kinds of the product name:

Names of men and women: like FORD, CAMPBELL, DELL, etc. they are memorable, difficult to copy and suggest that the product is the invention of a human being.

Descriptive names: BAND-AID, JANITOR IN A DRUM, NIHAR SHANTI AMLA, etc. start with a sales appeal. But, they are very specific which can be used only for these particular line extensions and are not very creative as per the marketers.

Meaningless names: KODAK, CAMELL, KOTEX take many years and a great amount of money to get famous among people and make themselves remembered.

If it is important for marketers that the name of the product appears as big as possible, then they should choose a short name like TIDE.

·       Packaging: Packaging needs to be attractive to the consumers. First, a research is mandatory that which color and shape viewers like the most. Then only the product can be sold to its full potential.

It must also be taken into care whether the packaging is suitable for placing the product on shelves in brick and mortar stores.

·       Target Group: As also described in the STP analysis, you should know to exactly whom you are catering to. Your product must serve the wants of the consumers. For example, Thums up is a refreshment, a soft drink, which caters to bold, stud and adventurous people. Making emotional ads won’t work for it and its sale may actually come down.

·       Timing: Time to launch a product is very crucial. Many marketers avoid festival dates like New Year or Christmas for launching a product, as they think that the product doesn’t get proper visibility due to festive seasons. Others bet that their products can get sold the most in the festivals.
Marketers look for all macro and micro features first and then launch the product accordingly.


Other than this, just do STP of the product or service and make a proper positioning statement. Then do the 4P analysis of the product. It will be ready to get launched post that.

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