Fundamentals To Remember When Launching A New Product

I get it! It can be exciting to produce something new. Perhaps it is your first product, or you are adding to a range, but the excitement never goes away which is what makes being your own boss and an entrepreneur truly magical. However, with all that sheer excitement comes haste to launch as soon as possible. But, the issue is that you may have not taken into account all of the key fundamentals for a successful product launch. I thought I would share with you what some of those are.

Extensive Product Testing 

Any product will need extensive product testing, and not just by you and your team, but by other people and even the general public. This will enable you to ensure that the product will be received, will work, and even has a market in place for it. There are plenty of other testing methods you could do before you even supply a completed product, market research and focus groups could also add essential feedback and even help make valuable changes or improvements to the product prototype before it is even launched. It is always advisable to ensure that you are taking the opinion of the people who will be buying the product once it is launched. 

Think About The Packaging 

One of the biggest things many business owners or entrepreneurs forget is the presentation of the product, and the packaging is exactly how you do it Many people's eyes will need to be drawn to the product on the shelf, so why not make the packaging enticing? Consider alternative options to storing your product like stand up pouches or even boxes. Taking this into account will be an added bonus come the time you launch the product and take it to market. 

Does Your Branding Still Work 

At some stage, you will have spent some time thinking and focusing on your branding and logo, but what you need to determine is whether the brand will work with the product and the packaging. At this stage, you may need to consider a different brand focus or even consider the packaging in which you present the product. Your brand is your business as well as the product, so it is ideal if all seamlessly work together to ensure that everything matches for your business. 

Transportation & Delivery Methods

Finally, you need to consider the transportation and delivery methods for the product once it is on sale. Are there any restrictions due to the nature of the product? Does extra care need to be taken in order to deliver the product safely? You also need to think about the cost implication and whether this is included in your retail price or an additional charge placed on top. 

Let's Do Launch

It is always exciting to be launching a new product, which is why it is so easy to jump head first into something without looking at all the facts. I hope these tips help you when launching a new product within your business.

I hope you enjoyed this article about key fundamentals not to forget when launching a new product with your startup or SMB.

Interested in more articles about business management?

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Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
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