Review of Laura Dolan’s article 10 stages of launching a new product
According to Dolan, the developing, debut, and marketing stages are half of the battles of launching a product. She goes ahead to list the preferred stages of launching a product.
Her first step is to:
1.) Create a product that meets the users’ needs.
Do research to ensure that your product is actually the solution to the particular problem your target audience is facing.
2. Know your competition.
Understand and recognize other businesses that offer the goods/services you offer and display your unique value proposition
3. Make a prototype and test it.
Creating a prototype allows you to have a feel of the usability of the product you’re designing.
4. Reconfigure your product.
Have a select group of people test your prototypes, accept the feedback given, and implement them.
5. Run the numbers.
Establish your profit numbers and pre–determine your costs and the amount of revenue you would generate from the product.
6. Build anticipation by pre-marketing.
Tease your target audience a little bit and use this opportunity to rub their problems in their faces.
7. Build a solid supply chain.
This step is particularly important for businesses that want to launch a physical product.
8. Network and show your product
Interact with people in your circles, join new circles, and use every opportunity you have to talk about the amazing product you are building and the problem it will solve.
9. Reach out to the press post — launch
A great way to build more awareness on your new product is by reaching out to the press to get word out there about the product.
10. Consider public feedback post launch
As you already know, we recently launched our Product — Sync! It is only natural that we review an article about launching a product. We successfully went through all the 10 stages listed in the writer’s article and it has brought us this far.
While we agree that these stages must be carried out properly before launching a product, we do not really agree with the fact that Laura Dolan labelled her first four stages as product launching stages. Businesses that need these supposed first four stages are those that want to start building a product not a business that already wants to launch.
If as a business, you are just thinking of your competitors and considering if your product meets the target audience’s needs at the launch stage, you most likely will fail! Stage one to four in her article recommend phases in product conception that are not necessarily launching stages as they must have been done during the product development stage.
Your business might not need to strictly adhere to the 10 stages proposed in Laura’s article to conduct a successful product launch. If your product is more than 80% complete, free of bugs and errors, free of mistakes and harmful substances, well researched, and well marketed, it is very likely that your product launch will be successful. Failure to diligently research, develop well and market effectively will negatively affect the success of your product launch.
We have successfully launched Sync- A productive digital workspace, where partners can manage their projects, teams and money and where members can get jobs and get paid. We are currently in public beta. If you take advantage of this beta period, you would be able use the platform for free for two months. Sign up at www.teamsync.tools.