First study of successful new product launch published March 02 Your company has spent months designing a new product, coming up with prototypes and designs, talking to retailers, developing advertising campaigns and new packaging, and monitoring the competition. But how much attention have you devoted to one of the most important aspects of a new product’s lifecycle - the launch? With thousands of new products introduced every year, it is becoming more and more difficult to make your product stand out from the rest.  Therefore a well-conceived and executed launch is vital. One of the first studies into the ingredients of a successful launch has been undertaken by Boston-based public relations firm Schneider & Associates, in conjunction with Boston University. The study, which incorporated both qualitative and quantitative research, divided the specific launches into either “highly successful” and “less successful”, and looked at factors such as timing, flexibility, and who was in charge of the launch to determine common themes and practices in “highly” or “less” successful launches. Findings include: Conduct launches with a different mind set and philosophy. Treat launches as a distinct and separate phase. Respect and appreciate that launch planning is everything. Expect delays and expect to live with them. Don’t put the CEO in charge of a launch. Fight for bigger launch budgets. Boston University had a data base of 91 case studies to work from - food and beverage accounted for 61%, sporting goods 16%, apparel and shoes 13%, health and beauty 6% and other consumer packaged goods 4%. Factors in successful launches included: “a strong consumer focus in advertising, PR and marketing, leading to a “pull” strategy that drives customers into stores, is associated with “highly successful” launches, while “less successful” launches will devote their marketing funds on trade-related support, or a “push” strategy; between 76 and 90 percent of companies with “highly successful” launches engaged a PR firm to assist, while fewer than 60 percent of those with “less successful” launches did the same. Indeed, the report concluded that public relations is often an “overlooked weapon” in the launch arsenal. l=Primary_Responsibility.jpg The roles it concluded PR should play in supporting a launch were: Build on advertising messages and themes. Raise media awareness and interest. Send product samples to appropriate key and vertical media. Source speaking and exhibition opportunities. Both the qualitative and quantitative feedback from the study showed that PR is a vital ingredient in “highly successful” launches, with quotes including: “Grass roots PR and product sampling via media and promotional opportunities were vital to success.” “PR was a cornerstone of the product launch - it has been effective and provided a strong return on investment.” “Our PR firm created innovative displays to demonstrate product availability and create newsworthy events.  After core launch activities were completed, the agency stayed away from the mundane and introduced many interesting takes on issues.” Click here to download a pdf copy of the 24 page Executive Summary of the survey.

PR Influences Australian Public Relations Newsletter. Article: Research: First study of successful new product launch. Information Content: Marketing, Reputation & Research