Launching new products requires a considerable amount of preparation, and timing the launch can exert a significant influence on the product’s success. Though some products can launch at almost any time, a series of considerations help determine timing for many successful items.
The timing of a product launch, according to the business consulting firm NPD Solutions, can have a significant impact on sales. Launching a child-friendly product around the holidays, for example, can lead to a large influx of sales at launch time. Similarly, launching a high-demand product just before an industry trade show or during a period of slumping stock prices can lead to a boost in business.
Everything in Place
When planning a product launch, be certain to leave enough time to get critical components in place. Robert Cannon, a marketing consultant who runs Cannon Advantage, notes that successful product launches occur only when pricing is set, samples are readily available and production items are ready to ship. A promotional or marketing campaign should also be in place or already running at launch.
Some companies, according to Crimson Consulting, time products to launch only after a marketing campaign and leaked product information build anticipation. In addition, periods of traditionally low sales—like the summer vacation season in Europe—can slow sales enough to delay new product launches.