Michelle is happy with how the plan is being put into place. The date and time for the final board meeting has been set when she calls you.
"How will we know if the new product launch is a success?" she asks. "How will we know if what you have suggested really worked? Since I started this company as an entrepreneur years ago, I feel like everything that happens here is my fault or my responsibility. Does that make sense?"
"You've been so supportive to me during this whole process," you say. "Leave it to me. I'll think about what you've said over the long weekend and I'll be ready to sit down and discuss the details as I prepare the final draft of the plan."
Based on your original goals and the plan you are putting into place, what will you tell Michelle?
- What will you measure to determine whether or not your new product plan for MM is a success?
- What about a contingency plan?
- Do you need to make recommendations for MM if things do not go the way you hope and expect them to?
- As an entrepreneur, is it normal for Michelle to feel like she has the weight of the company (and this project) on her shoulders?
- Can you tell her something to help her deal with these thoughts?
Based on the original goals and plan that Michelle has put in place it is easy to know if the product launch is a success. If the original goals and the objectives of the plan are achieved the product launch is a success. For example, if the original goals had been to launch a tablet computer in US with sales of at least 500,000 units during the first six months. If at the end of the six months, 500,000 units are sold the product launch is a success. Similarly, the plan has several objectives. For example the plan may have the objective of selling 100,000 tablets during the first month, developing at least 50 retail outlets, keeping the launch price of the tablet less than $199, advertising the tablet on at least five media channels, and developing collaboration with at least one software maker. If these five objectives are achieved within a month of the product launch, the launch is a success. The original plan also had budgets and a timeline. If the budget of the original plan has been adhered to the original plan is a success in contrast if the budget of the original plan has been exceeded substantially, the launch is not successful. Similarly, if the launch has been made on time the launch is successful and if the launch is ...
This posting gives you a step-by-step explanation of product launch plan. The response also contains the sources used.
Marketing: Develop a marketing plan to launch a product into a foreign environment
See attached template.
Develop a marketing plan to launch the following product into a foreign environment.
The Food and Drug Administration (FDA) has cleared the first device for diabetics which, integrates a glucose meter and an insulin pump with a dose calculator into one device. The product, made by several American corporations, combines an insulin pump with a glucose monitor and facilitates data interchange between the two. The use of the integrated system is expected to make it more convenient for people to manage their diabetes. Manufacturing companies in the U.S. operate as medical products and services companies with expertise in medical devices to assist healthcare professionals and their patients. The companies' products are used by hospitals, clinical and medical research laboratories, blood and plasma collection centers, rehabilitation centers, nursing homes, doctors' offices and by patients at home under physician supervision. It is anticipated that several of these companies may be interested in exploring the possibilities of marketing this product to other countries with high market potential.
As a research specialist for global markets, working for a marketing research consulting company anticipating research services in this field, you and your team have been charged with the responsibility of choosing a U.S. company, selecting a country-market, and developing a marketing plan for the company/country. Your marketing plan should be concise and to the point--a blue print of how to get your company from where it is to where you want it to be in the short term (one year). The plan should focus on a marketing objective and how you intend to accomplish this objective. You will start working on the assignment in this unit, but the final product is not due until the last unit (5). Use the guideline below to develop a marketing plan for your company.
1. Discuss the background of the chosen company and product.
2. Develop and discuss the importance of the criteria used to select your country-market. Then, compare and contrast (at least three) potential country-markets along the criteria vs the US. (Use a table to summarize the data.)
3. Finally based on your analysis in (2) above, indicate the best country-market and defend your choice.View Full Posting Details