LONDON: Infiniti Research, a leading market research solutions provider, has announced the release of their new storyboard series on how a product launch strategy helps businesses to successfully launch a new product in the market and gain maximum traction from customers.
The market space, today, is far more competitive than it used to be a decade ago. Millions of new products are being introduced daily in the market. Unfortunately, many companies still spend millions of dollars on product development stages and ignore the most important process, i.e. the product launch. Consequently, they end up with product failures and high R&D expenses. In the wake of such developments, savvy companies have realized that a product launch strategy is inevitable for businesses if they are aiming to stay at the top of their game.
With over 15 years of experience, Infiniti Research, has helped many organizations to avoid the common pitfalls of product launches and develop a successful product launch strategy. Below, we’ve listed out some of the success stories that highlight how our product launch strategy has helped companies to gain a leading edge in today’s competitive marketplace.
#1: How a product launch strategy helped a pharmaceutical company to successfully launch its new oncology drug?
With almost 80% of the product launches failing to make an impression in the market, it’s not very easy for businesses to attract customers towards their new product. Are you facing similar challenges? If so, take a look at our latest success story where a pharmaceutical company encountered similar challenges and approached Infiniti. Our experts adopted a comprehensive four-phase approach to help the client develop a product launch strategy. The approach successfully helped the client to gain traction from target customers and ensured their product’s commercial success. Want to know more, here is the complete story.
#2: Infiniti’s product launch strategy helped a CPG company to successfully develop new products targeting millennial customers
With the millennial group becoming the generation with more buying power in the European market, it’s becoming more important than ever for marketers to understand what makes millennials willing to open up their digital wallets. Also, to tap the enormous purchasing power of millennials, companies needs to shift their product development techniques and match the preferences of these young consumers. Don’t you agree? If so, find out how a CPG company based out of Europe leveraged Infiniti’s expertise to conceptualize, produce, and release a series of products for millennial consumers. Furthermore, Infiniti’s solution helped them to strengthen their reputation as a resilient and modern food company. Read the complete story here.
#3: Planning a product launch? Have a look at the challenges in marketing a new product and ways to overcome them
Launching a new product in a competitive market is extremely challenging since in most cases one in five products survive for more than a year in the market. As a result, businesses often face massive losses. As the cost of introducing a new product in the market is high, it becomes vital for companies to develop capabilities that will help them in successfully marketing a new product. This latest article from Infiniti Research reveals some of the common challenges faced by companies while marketing a new product in the market and also explains the ways to tackle them. Read the article below to gain more insights on Infiniti’s product launch strategy.
#4: New product launch strategy for a tech giant
Given the multitude of new products available in the market, it becomes extremely difficult for companies to set themselves apart from the global competition. Do you agree? Well, the case becomes extremely challenging when it’s a tech product. This was a similar case with a multinational tech giant. The company developed a new product line completely focussed on home automation. But, unfortunately, with several competitors out there in the market, the company encountered a tough competition. The company, therefore, approached Infiniti to develop a product launch strategy to reinforce their image as a purveyor of high-quality home automation systems. With Infiniti’s expertise, they were able to generate much-needed attention by attracting customers and generating huge profits for the company. Interested to know the approach undertaken by our experts to help the client? Well, read this complete success story here.
#5: How to roll out a successful biopharmaceutical product launch plan?
Rising regulatory issues, growing stakeholder expectations, numerous market-access hurdles, and stiff competition are some of the critical hindrances coming in the way of biopharma companies. Are you running a biopharmaceutical business? If yes, these challenges must be common for you. So, in between all these challenges, how are you planning to roll out a successful product launch plan? Well, biopharmaceutical companies should study innovative pricing strategies during product development and make pricing a core pillar of the product’s profile. Are you interested to know the other points to focus upon for a successful product launch? This article from Infiniti Research will give you more insights.
#6: Find out how competitive intelligence helps in product launches
Competitive intelligence supports all stages of a new product launch. Are you wondering how? Well, this is clearly evident in the success story from Infiniti Research. This success story highlights how competitive intelligence supported a retail industry player address robust issues pertaining to the pricing and marketing of various products. Also, find out how competitive intelligence helped them to embrace new sales channels, improve marketing efforts, and enhance product assortment. Read the full story here.
#7: A chemical sensors provider achieved market share in the South American market
Developing a robust product launch strategy to target specific customer segments is essential if you are trying to establish your business in any specific region. A chemical sensors provider was finding it difficult to segregate the customers in terms of need-based and value-based segments in the South American market. Infiniti’s solution helped the client to discover the value of each segment to tailor their marketing efforts. Furthermore, these solutions helped them maximize cross and up-selling opportunities. As a result, the client successfully launched a new product and realized a significant improvement in their customer retention rate. Get more insights here.
#8: Understanding the basics of a product development strategy
For a product launch success, it’s important for companies to produce the best quality products. An effective product development strategy proves to be helpful in winning businesses from the competitors who are unable to meet the new performance levels of the company. Making quality improvements as a part of the company’s product development strategy also make it easier for companies to enter the markets with stringent quality and regulatory requirements. This latest article from Infiniti Research will help you gain more insights about product development strategy. Read the complete article here.