Product Launch Planning

Problem

A global office equipment manufacturer had recently acquired a new print-on-demand solution in order to capitalize on a perceived opportunity in the commercial printing market. The company believed that a market existed with both medium-sized commercial printers and quick print shops, but the client had very little experience with these markets and did not know the customers. It recognized that the key factor to entering this market successfully would be the development and execution of a superior product launch strategy. Go To Market Partners was asked to assist in developing this strategy.

Go To Market Partners sought to create a winning go-to-market plan for the new product that would:

• Develop compelling value propositions for prospective buyers
• Define the target markets’ purchasing processes and buying behaviors
• Identify the appropriate mix of distribution channels to reach the target customers
• Create pricing and product bundling strategies (including support services)
• Develop a branding strategy

Action

Every good strategic plan is founded on extensive primary research. Determining what data is needed and where to obtain it is critical. After reviewing the client’s objectives and developing a framework for the output, Go To Market Partners decided to obtain crucial information from the following sources:

• Market Research Dozens of potential customers in the commercial printing industry were interviewed to gauge receptivity to the client’s new product offering
• Internal Interviews Key client personnel were debriefed extensively to tap their prior experiences in this marketplace
• Channel Interviews Potential channel partners were examined to determine which were most capable of reaching the target customers in each market
• Competitor Benchmarks Comparable products were evaluated to identify challenges related to the product launch. In this case, products fell into two categories: 1) Related printing products such as high-volume color copiers and printers, and 2) Other non-printing products that are sold to commercial printers.

In total, Go To Market Partners spoke with over 150 individuals in order to determine the best positioning, pricing, bundling, and channel mix for the launch of the client’s product. Based upon the results of this research, a comprehensive go-to-market plan was created for the client. The plan included detailed, prioritized activities to successfully take their new product to market. Additionally, GTMP furnished the client with a detailed report on the underlying economics, processes, and requirements of the commercial printing market.

Result

Armed with its go-to-market strategy, the client successfully launched its product in late 2001. Less than one year after launch, the product line had established itself as a technological leader and is achieving double-digit market share growth.