Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.
Chapter Nine: Commercialization and Launch
Commercialization and Launch
At the end of the technical development stage, the developed product and its marketing plan are assessed. If everything is in order and approval is given, the product enters the last stage of product development, which consists of initiatives that commercialize and ultimately launch the product. Characteristically, this stage is called the commercialization stage.
Various activities will be undertaken in this stage. Market testing, launch preparation, and new-product forecasting are common activities.
Market testing is used to evaluate the marketing plan. Although much of the marketing plan will be set, market testing is useful for refining the marketing plan to ensure that it is comprehensible to the marketplace. Market testing also can be useful for identifying problems in the marketing plan, ...