Strategic Plan to Launch a Product in Global Markets
Posted by Talent on March 6th, 2020
The time for the worldwide launch of your product is closing in, and you are wondering if you are ready to go global? A timely and successful launch makes a big difference in revenue, especially in the first few months of the launch. A successful global launch helps attain wide market awareness, organizational efficiency, and sales volume. All of these require effective planning, communication, expertise, and knowledge. In preparing for your product launch, consider this checklist to review the key needs before the worldwide announcement.
Evaluate Local Market Opportunities
To leverage regional market opportunities, a pre-launch analysis of the competitive stage and customer demand in key countries is a necessity. Do not risk missing out on opportunities to increase your international revenue by avoiding a market check-up prior to the global launch.
Create a Global Plan and Roadmap
The global launch plan provides a clear vision and path to facilitate the execution. It needs to be developed and delivered at least 5 months before launch to ensure successful execution through the timely adoption of strategies and production of deliverables.
Design an Effective Launch Process Worldwide
The global market success of the product is dependent on your internal infrastructure and the ability to coordinate a centralized strategy with effective execution. This is determined by the ability to build a launch management framework where you can leverage internal team knowledge to ensure a smooth flow of processes and effectively deliver the product on time and in budget across the world.
Engage Launch Team Across Cultures
While launching a new product, success is dependent on team alignment. It is imperative to ensure a complete understanding, participation, and ownership from all the team members. Building a strong network of team members takes careful planning and relationship building. So, start checking in with your team members around the world and create a networking strategy.
Ensure Timely and Localized Deliverables
Many companies prioritize US-centric markets, English language products, and related communication tools; with this, the localized markets receive the product weeks (and sometimes months) after the global launch date. To provide the local marketing and sales team with the right means to success, ensure that correctly translated and localized communication tools are in reach to guarantee timely delivery prior to launch.
Enable Local Sales Teams Through TrainYou are getting ready to launch the product, and your sales team cannot communicate effectively. What do you do? Before this happens, ensure all team members are properly trained and are provided with any resources necessary to facilitate effective communication. In addition to all this, you also need to ensure that everyone on the team is educated with a certified strategic international business program. This will allow them to train effectively and ensures that your team is ready for the launch.
So Are you ready for the launch?
Everything depends on your team and your planning. To effectively plan a global launch, it is better to be prepared beforehand. And a global strategic international business course from IIFT can help you do just that. It helps you gain real-life exposure so that you can secure timely delivery through strategic planning, effective communications, operational efficiency, and globally responsive teams. So, don't waste your time scouring the internet and enroll yourself in a certified in Strategic Management Process Program.
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About the AuthorTalent
Joined: February 12th, 2020
Articles Posted: 6
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