Product Launch Strategy

We need insights to help anticipate the ramp-up to commercialization and the best approach to go to market successfully with our product. Initial questions to brainstorm include, but are not limited to: 1. Where in the world is the best place to launch for early success? What is the total market size for this opportunity? What are some good launch ideas? 2. With whom should we partner on manufacturing, kitting, packaging, warehousing, and fulfillment? How complex is that and how much will it cost, realistically? 3. Who are our closest competitors and how do we differentiate ourselves? 4. How do we establish our brand: Build awareness, acquire customers, and defend any early success? We are looking to gain alternative perspectives on potential marketing tactics and better understand the current competitive market.

Market Research

Our company deals with a diverse range of products online. We want to better understand our target market and the overall market, so we can uniquely position ourselves within our industry. We would like to collaborate with students to conduct market research. This will involve several different steps for the students, including: Familiarizing themselves with our company’s values, products and services. Researching our target market and market potential. Researching the industry and competitive landscape. Recommending strategies to improve our positioning, brand, products and services. Bonus steps in the process would also include: Recommending strategies to differentiate ourselves from our competition.

Analyzing Industry Data

Our company advertises thousands of products online. We believe we know a lot about our consumers and target consumer base, but we need to look beyond the buyer and examine our industry. We would like to collaborate with students to identify key market trends and assist in our go-forward plans. This will involve several different steps for the students, including: Familiarizing themselves with our products, target market, and industry. Analyzing growth trends, stagnation patterns and decline analytics. Identifying areas of promising innovation and areas that are slowing down. Bonus steps in the process would also include: Recommending strategies to best position our company.

Product Design & Prototype

To expand our product offering with a new ergonomically-designed line, we need insights into how we can redesign existing popular equipment and what products have the most design potential. We are interested in gaining insights on popular products that could be redesigned to be more usable and comfortable and included in our new ergonomic line. We would also like a prototype of a single product to be included in our new line.

Competitive Analysis

Our company has been serving thousands of customers for decades. We want to better understand how our target audience perceives our brand and competitors. This will help us develop clarity on our competitive advantages and optimize our marketing strategy. We would like to collaborate with students to conduct a competitive analysis of our business. This will involve several different steps for the students, including: Familiarizing themselves with our company, products, and target market. Identifying current and potential future competitors. Creating a matrix identifying features that are similar and different between companies. Summarizing our competitive advantages and disadvantages relative to the competition identified. Bonus steps in the process would also include: Recommending how our company can differentiate itself through products / services and messaging.