3, 2, 1…Blast off!
Every year, many products fail for many different reasons: lack of strategy, scrutiny, stamina, and money. A new product launch takes work beforehand: segmentation, purchase path and life cycle analysis, competitive research, strategic roll-out, market evaluation…the list can get pretty hairy. Lucky for you, we’re experts and this homework is one of the things we do best.
There are many approaches to developing a new product and ensuring its success. Apple for instance, seems to thrive at re-inventing failed products, filling the voids, adding ease of use and delivering the consumer something they didn’t expect, like the new Apple Watch.
With over 80% of product launches failing, we beat the odds with lots of success stories including work for Char-Broil, Levelor and Bondera. Below are some for your next new product launch:
- Levolor – When the category involves aesthetics, you must help the customer visualize all aspects of their experience with the product. In window treatments, customers wanted to see and feel the product, envision the light blocking or light filtering capabilities, see décor ideas. Packaging, digital, even instruction sheets and videos benefitted from this insight.
- Char-Broil – When the product involves a complex or highly engineered feature, lead with the visceral human benefit, the “why” someone would want this. NOT the “how” it works. The “how” (infrared spectrum science and emitters) can come later, once you’ve gotten consumers interested with the why (better tasting food).
- Bondera – Don’t overlook the product name, it can speak volumes. The Bondera naming project brief intentionally specified the development of Italian or Latin sounding names. Such names evoked imagery of beautifully tiled Italian homes or Spanish haciendas, lending the product an air of authenticity, old world craftsmanship and quality.
Stay tuned to see some exciting new products we are working with right now from sports and outdoor living to healthcare. Do you have an idea you’d like to turn into reality? Let’s get it there together.