6 Questions to Ask Yourself Before You Launch Your Product

We have previously discussed the questions you must ask yourself before you launch your product and go live with it. Out of the twelve questions, I have told you about the first six, and here are the rest of them.

1) Is my product or service priced competitively?

The trick is to find the best price for your product. The price of a product determines how the customers perceive the product, and what they perceive the product is worth. If you under price your product, the customer might think that it is of low quality and wont buy it, and over pricing would limit the amount of customers that can afford the product. Try out different prices for your product and stick with the one that results in the most sales.

2) What are the possibilities for the growth and the "back-end" sales?

This basically means, indentifying whether you can sell the same customers the same product over and over again. It is possible for things like soft drinks; you can sell the same drink to the same customers over and over again, however with things like an office desk, you might want sell additional items along with the desk in the long run.

3) Is the product or service you're selling, safe?

Although most of us sell things with clean intentions and do not mean any harm to our customers, it is quite possible for your product to be unsafe without you even realizing it. An unsafe product can lead to you being sued. Hence you must check and then re-check for any possibilities of your product being unsafe.

4) Can advertising copy promote your product?

This part follows up from after the product launch. You need to recognize whether your product needs to have itself illustrated to the fullest before the customers would consider buying it, or whether ad copy would work for your product.

5) Are you going to have to manage inventory?

An immobile inventory can be costly. Your product may expire, get lost, break, get stolen etc. all this is going to cost you money and you need to realize what you can do with the standing inventory. Getting rid of excess stock is also a step that should be taken and in many cases a sale always helps.

6) Is your product or service good enough for yourself? Would you buy it? This is also a very important question. Since your selling your product and testifying for it, you need to ask yourself if you would buy your own product, this question would help you pin point any flaws you might be making.

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Launch Now Or Die - Why You Need a Product Launch

Having spoken to hundreds of speakers and promoters, a commonly phrased question, especially among the veteran speakers, is: "Is the product launch a fad?" Phrased another way: "Can I just ignore it and continue doing marketing to fill rooms and/or speak at live events?"

While nobody can predict the future, it's instructive to look at historical trends. We contend that the Internet has proven to be the most efficient means of distribution and has wiped out companies that have high overheads. Let's look at what's happened in other industries and why you must do a product launch immediately.

In the mid 1990s, as the Internet came on the scene, executives at traditional businesses (also known as brick and mortar companies) dismissed the Internet as a curiosity. That is, they simply could not envision a day where day to day commerce would be done over the Internet.

One very enterprising entrepreneur, Jeff Bezos, "got it" and decided to quit his high-paying hedge fund position to launch what is now known as Amazon.com. Many much larger companies that didn't "get it" never managed to catch up and were left behind.

As a point of reference, Amazon.com has over the twice the profit margins of traditional retail businesses due to the efficiency of marketing online and being able to serve a global marketplace (Amazon.com also enjoys a much larger market capitalization vs. much larger retailers such as Barnes & Noble, thus creating phenomenal wealth for its investors).

Likewise, other industries, such as the travel industry and the stock brokerage industry, ignored the Internet at their peril. Ask yourself this question: when was the last time you called a travel agent to make a plane (or hotel) reservation vs. just booking it online? Likewise, for those of you that own stocks, when was the last time you called a broker to trade stocks vs. going online?

Similarly, the realtor industry has gone through its share of upheavals as well. In a recent National Association of Realtors (NAR) survey, over 85% of homebuyers first go online to do research before calling a realtor.

As a final example, a significant reason that Apple has managed to come back from the brink of bankruptcy to become a market leader is because of how well they have managed their product launches. Witness the ubiquity of the iPod, the iPhone and several products which are now household names.

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Creating an Effective Planned Product Launch

I'm sure you have seen it on TV or on the news where large businesses have sold thousands of their new products in record time. You probably sit there wondering "how on earth can someone do that?" Well now its time to put you out of your misery.

The key to being successful in your business is to have an effective planned product launch. The key word in this sentence is "planned". Without having a plan you are more like a "needle in a hay stack". If you think that setting up an effective plan for a successful product launch is a walk in the park then think again. It takes weeks of hard work and precision for everything to work out effectively. You need to sit down and discuss on what you plan to do and how you plan to achieve it. Your plan must include a list of tasks and an assignment of who in your organization will perform each task on your list.

There are two different types of launches; one being a hard launch that is based over a fixed period of time and the other being a soft launch which just "goes with the flow". You need to decide which one to go with and why. It has been recommended by various experts that you should go with a blend of both to achieve optimum results. The approach you choose at the end of the day will all come down to your product and how far finished it is. If you are still developing a few changes then it is ideal to go with the soft launch.

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Product Launching 101 - The Best Way to Setup and Manage an Ecourse

Many people wonder what is the best way to set up an ecourse; the truth be told there is no best way. You can use an autoresponder with a link to a pdf file of the course, or have the body of your course delivered by an autoresponder, you can even publish your ecourse on a website and simply direct your members to that page. Whichever way you choose is just as good as the other. Each one of these ways has there own pros and cons.

Let's look at a link to a PDF first. The best thing about the PDF is the subscriber can print out the file and store it to look at it at a more suitable time. They can also save the file on their hard drive for later referring to. The bad thing about this is that if they don't have the required software to open PDF files then they won't be able to view it.

Now lets look at a webpage link. The great thing about this all of what you have to offer is at the readers finger tips. You can put different links in the web pages for all to view. Even add your affiliate links in the pages for more traffic to them as well. The bad thing is that so many people use this method that many get tired of opening new links so the chances of them clicking on the other links is not so great. If you can't grab their attention right a way you may lose them from your page.

And the last one to look at is the content in the body of an email. The great thing about this is you are making it easy for the viewer to get the information and read it on their time without having to go somewhere else to read it. Everyone opens there email daily so it's right there waiting on them to read. The bad thing is if you make it to long the people might get bored and erase it for good!

So as you can see each one of these methods are good and are bad in some way! If you can create a combination of these methods then you have a better chance of capturing your audience's attention and keeping it!

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Product Launch Strategy - The Five P's of Your Launch

Even though times have changed, the traditional methods of being able to have effective product launches still remain the same. Even though we are faced with a difficult financial crisis at the current time, this does not mean that the foundations that have been followed for many years need any change. The basic marketing tools known as the 5 "Ps" are still the most effective way to product launching. The 5 "P's" stand for Promotion, Place, Price, Product and Packaging. These are known to be effective regardless of whether you're launching a product online or offline. If you are planning to launch a product any time soon than make sure you give the 5 "P's" some form of consideration.

1. Product - This is the main part of your entire marketing campaign. Without a great product you don't really have much to work with. For this reason you have to make sure that you have got your market research right. It is very important to make sure that you have met all the requirements that a consumer would want in the product you are offering. You need to make sure that all your products are of great quality and that can be relied on as well. After all it is not a stroll through the park in order to achieve the trust of your customers. The product you are offering will be the so called first impression on your company's reputation. For this reason it is very important that you get everything right. The main goal in terms of your products is to meet your customer's expectations.

2. Price - This is also quite an important factor in more terms that one. Seeing that you will be competing against other competitors, you have to make sure that you offer a price that will make customers want to come and buy your product instead. Don't just price your product out of thin air. Make sure you do your market research and based on the quality and benefits of your product, price your item accordingly. One thing you should keep in mind is that with the current credit crunch, many will be looking at ways to cut down on their spending. For this reason you have to make sure your price appeals to a wide range of audience.

3. Packaging - The packaging of your product is also like the first impression of what you have to offer. You need to make sure that your packaging is both attractive and safe. Safe in the sense that it provides adequate protection to the product it is holding. Unless you have an attractive packaging, you won't be able to attract possible customers.

4. Place - This is one of the most important factors when it comes to the actual launch of the product. You need to decide on the perfect location that will allow you to maximise the possible customers. Try choosing a location that has a lot of people passing by on a regular basis.

5. Promotion - This also is known to play a key role in advertising and the launch of the product itself. You need to carefully decide on the approach that you will promote your product in comparison to your other competitors.

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A Cost Effective Product Launch

One of the most existing moments for entrepreneurs is launching their product. Many however fall short of meeting their initial expectations, this results in a hit to the bottom line of the marketer and leaves them wondering what went wrong.

To avoid this unwanted situation, entrepreneurs should be open to understanding some basic facts. During the launch phase the only one who is concerned about your new product is you. You need to find a way to change this fact and get other people interested in your product.

You must provide your prospects with an education on why they need your product. What will benefit them by buying your product? Simply appearing on the scene with a new product telling people to buy it will not make you successful.

It is liken to the question concerning the chicken and the egg, which came first? The same applies to your product, what comes first? Developing consumer interest in your product or advertising your product. Some think these are the same thing but they are actually quite different.

When you begin to present information online about your new product you need to take the patience and tolerance of online consumers into consideration. Today's consumers are easily distracted and prone to boredom. If they are not entertained or intrigued by compelling content they will quickly leave your website and miss the story of your product. You need to provide them interesting and meaningful information that will directly affect them or interest them in your product.

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