What is a New Product Launch Plan?
A new product launch plan is a strategic roadmap that outlines the objectives, actions, and measurements of success for a product launch. This plan is designed to help product and marketing teams efficiently launch a product and reach the desired goals. The plan can be tailored to fit the needs of different industries, which can range from launching a new product to launching a new service.
What's included in this New Product Launch Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the New Product Launch Plan template for?
This new product launch plan template is intended for product and marketing teams in any industry who are looking to launch a new product. This template can be used to create an organized and effective plan, making it easier for teams to track progress and reach the desired objectives.
1. Define clear examples of your focus areas
Focus areas are the broad topics that need to be addressed in order to achieve the desired objectives. These are typically the areas of the product launch that need to be addressed in order to achieve success. Examples of strategic focus areas that could fall under a New Product Launch Plan could be: Product Launch, Product Development, and Customer Service.
2. Think about the objectives that could fall under that focus area
Objectives are the goals that need to be achieved in order to reach the desired outcome. These are usually the tangible results that need to be achieved in order to be successful. Examples of some objectives for the focus area of Product Launch could be: Increase Awareness, and Generate Sales.
3. Set measurable targets (KPIs) to tackle the objective
KPIs, or key performance indicators, are measurable targets that can be used to track progress and evaluate success. These are typically set for each objective in order to provide a tangible goal for each objective. For example, an objective of increasing awareness could have a KPI of increasing the number of people aware of the product.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the steps that need to be taken in order to reach the desired KPIs. These are typically the steps that need to be taken in order to achieve the desired objectives. For example, an objective of increasing awareness could include launching campaigns across multiple channels.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform enables teams to easily create, manage, and track their strategy. This platform allows teams to easily visualize their plan, track progress, and quickly adjust their strategy to reach their desired goals.