How to effectively launch a new product ppt @ bec doms mba bagalkot
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1. How to Effectively Launch a New Product
2. MARKET RESEARCH: To determine: Target Market Market needs
Positioning and strategy New product strengths and weaknesses
Company strengths and weaknesses Packaging/ pricing
3. MARKET RESEARCH: Focus Group Meetings To distill product
concept Key promotional messages Anticipate product resistances
Know strong points of competition Unfulfilled needs of MDs
4. PRELAUNCH: Marketing Plan Anticipated date of registration
approval Update of SWOT analysis Preparation of training materials
Clinical trials or seeding trials Organization of scientific
meetings Participation at regional congresses Final marketing
plan
5. PRELAUNCH: Field Force Training: Materials to be sent one
month before launch With self-tests to check learning Selection of
Key Accounts Hospital mapping MD targeting and profiling Press
Conference
6. 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
7. PRELAUNCH: Incentive plan, quota per Rep Distribution plan:
initial stocking and terms Pre-announcement letters to MDs
(teasers) Skills models Video models for use at launch role
plays
8. LAUNCH: Launch letters to MDs, pharmacists, et al. Press
relations Symposia Video news releases Press kit
10. 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
11. FOCUS ON SELLING SKILLS TO SELL NEW PRODUCT: Cost
effectiveness Handling objections Handling competition Ensuring
that first trials are successful Group presentations
12. 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
13. LAUNCH: Medical Education Program Patient Education Program
Gimmicks, posters, etc.
14. POST LAUNCH: Analyze effectiveness of tactics and
effectiveness of message Analyze competitive response Market and
prescription survey Handling MD queries
15. POST LAUNCH: Handling MD resistance Post launch bulletin
Producing the Audio Cassette Training Program, Post Launch Feedback
Revising plans
16. POST LAUNCH: Celebrating successes Selling tips New ideas
to reinforce messages Interviewing happy users of new product How
to respond to Reps questions
17. 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
practiceprevent poor performance. - Perri