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Follow the step by step to create a marketing plan to launch your product to the market and achieve your sales goals. It's about putting different pieces together to create a coherent and successful strategy.
The marketing plan for the launch of a new product is a fundamental marketing tool. It contains the strategy, the planning and all the actions that will be carried out with the objective of selling that product. Nothing can be left subject to improvisation, so it's important to know how to draw up this marketing plan.
Why should you always have a marketing plan for your product?
Brands invest large sums of money in designing and producing a product and your job, as a marketing manager, is to make it sell so that you can recover that investment and obtain benefits.
The marketing plan allows you to document what actions you are going to take to achieve your goal. It's a road map that will mark your steps from before the product even leaves until it reaches the point of sale (after several months).
In addition, it helps you to see clearly what will happen at each moment over time. Any launch involves many actions through different channels and that involves a very important coordination work. The marketing plan will simplify your task and give you visibility over the whole.
Therefore, a marketing plan for the launch of a new product will help you:
· Be clear about your objectives.
· Establish the strategies and actions that will be carried out.
· Allocate time and resources to each phase of the launch.
· Assign responsibilities to each member of the team.
How to make a marketing plan for the launch of a new product?
To prepare a marketing plan, it is important to follow a series of steps that will help you gather all the information that the document should contain. Here's a guide to follow:
1. Analyze the competition
When a company launches a new product and does not have its own experience to be inspired, it must always do an analysis of the competition. It's important to know how your product differs from other similar products in the market and what its strengths are.
2. Define the target audience
Do an in-depth analysis of what your target audience is like, where they live, what they work on, what they want... that is, the people who are likely to buy your product. You must know him better than yourself to know exactly when, how and where to impact him with your product.
3. Delimit your position in the market
Define how you position yourself in the market compared to others and what are the values that your product appeals to.
4. Choose the name of the product
The marketing plan can also include branding work to define the name, logo, style... of the product.
5. Determine the price
Behind each price there is also a brand strategy to position the product within a group (high-end, low cost...) and also to influence sales.
6. Choose channels and types of distribution
Knowing your target audience well, you'll need to decide where you're going to sell and where you're going to advertise.
7. Set a schedule of launch activities
At the time of launch, it is important to give impetus to the product with a series of actions aimed at making it known. You can organize a presentation event, a press conference, street marketing actions... the options are many. In the marketing plan you must make them all clear, establish time and responsibility.
Organizing a product presentation event: yes or no?
Among the actions to present the product is the option of organize a presentation event to media, influencers, professionals... This event has a great weight in the sales strategy since it offers great visibility to the product, which helps to increase sales volume. La Marketing Below The Line magazine, Retail and Activations, Informa BTL points out that when a product launch takes place, it is possible to spread the news and give visibility to the brand and the product.
The organization of this type of event is complex since you have to find a space and coordinate different suppliers. To do this, surround yourself with a good professional team with experience in this field. In the Karting by Carlos Sainz, for example, in addition to offering you a unique space to celebrate your company event, we also offer you all our help to make everything perfect. At our centers in Madrid and Las Rozas we have large spaces for events, the best karting circuits and an excellent catering service.
Creating a marketing plan consists of putting together many pieces that will shape an effective and successful strategy for promoting a product. Gather them little by little and you will succeed.
