There’s been a lot of attention lately on innovation, agile development, NPD and product road mapping. All are critical to developing new products but all fail dramatically in fully understanding the product commercialization process.
Miss out on successfully launching your product and not only will you miss your targets, but you’ll struggle to be credible with future product launches with your field sales team and customers.
With that in mind, here’s a comprehensive checklist to make sure you are considering the many facets of the commercialization process.
Why are we looking at this product / service?
What is in it for us?
What is in it for the Channel?
What is in it for the End User?
What do we hope to do?
What is the timing to carry out the goal(s)?
How do we envision accomplishing this objective?
What are the short and long-term strategies?
What is the timeline for each strategy?
How will the product be positioned?
Impact on other products (cannibalization)?
What plants and markets?
What factors will help this product?
What factors prohibit us from meeting our goals?
What are the crucial market factors for this product?
What market research do we have to support product?
Define the channel and end-user(s) priorities
Define the market size and total opportunity for us
Define strengths and weaknesses of proposed product
How will product be positioned (high/medium/low-end)?
Who are the key targets for placement?
Who are the pull through targets?
What is our pricing strategies by channel?
What is the product called?
How will it be packaged?
Clearly define production capabilities
Establish ordering procedures
Have we benchmarked other competitors in the industry?
Have we benchmarked other manufacturers outside the industry?
Measures of Success
How will we measure progress?
What will be considered a success?
Key dates for all product elements?
Develop an implementation roll out strategy 60/90/120 day
What are the sales plan by Region/Nationally (in units and dollars)?
What are the seasonality/current trends?
Clear and tangible outcomes?
What is the total brand budget to support new product?
What is the value proposition at each level?
Define the communication plan for end-user/ customers/field sales?
Ensure product included in other programs
Link our social media efforts
You Tube, Facebook, Blog, Twitter, Pinterest
Define literature requirements
Develop technical facts to support new product
Produce product samples as required
Determine tools required to support business proposition
Define product displays requirements
Develop plan-o-grams for retail customers
Will product availability delay photography (and literature)?
Coordination of brand support programs
Define schedule and key dates
Coordination of channel, product marketing, and brand efforts
Define processes and tools required for implementation
Determine channel programs (target accounts/promotions)
Develop time line for field sales communication
Provide advanced communication (90 days) to Sales
Establish internal and external product training schedule
(Field Sales/Customer Service/Channel Customers)
Develop training modules
Follow-up review of business strategy after 90 days/6 months
Develop bail out strategy if not performing