12.Product loyalty. Communica;on Objec;ves for Launch-Crea'ng category need-Building brand/product awareness preference-Generate brand/product ac'on inten'on-Enable purchase facilita'on-Reinforce purchase choice (reduce post purchase dissonance). Innova;on Decisions Process (6 Steps)1.Awareness2.Knowledge3.Liking4.Preference5.Convic;on6.PurchaseUnique Selling Proposi;on-BeneYt-Uniqueness-Potent (promise that is strong enough to move people)LECTURE 9: PRODUCT LAUNCHCommunica;on channels:1.Knowledge2.Persuasion3.Decision4.Implementa'on5.ConYrma'onTracking the launch – Key Factors
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-Concept interest-Product acceptance-Posi;oning and adver;sing-Pricing-In store visibility-Name and packaging-Compe;;ons response-Trade acceptance and responseLaunch Management System1.Spot poten;al problems (historical data, role play compe'tors ac'ons) E.G. Failure to generate suKcient awareness/trial. 2.Select the problems to control (Use judgement, what will have impact, what should be planned for or be tracked)3.Develop plans for management of problems (What can be done, plan is based on the problem)4.Design the tracking system (to measure results, set planning goals and 'melines, project outcomes and what are the trigger points, e.g. what level of awareness will cause us to be concerned or act upon?)5.Post review learning (learning from the launch, develop knowledge system and document occurrences and ac'ons, iden'Yca'on of what went right and wrong).
Marketing, new product development, Strategic business unit, Nico Li
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