{"id":17591,"date":"2019-09-20T00:00:00","date_gmt":"2019-09-20T05:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/"},"modified":"2019-09-20T00:00:00","modified_gmt":"2019-09-20T05:00:00","slug":"prepare-plan-introduce-new-product","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/","title":{"rendered":"How to Prepare a Plan to Introduce a New Product"},"content":{"rendered":"<p> <!-- .post-meta --><\/p>\n<p><span style=\"font-weight: 400\">The time you&#x2019;ve been dreaming of is finally here. All of those endless hours and, alas, sleepless nights have finally paid off. At long last, you know that you have in your hands (or perhaps on your screen) a WINNING product &#x2013; one that&#x2019;s going to transform the conversation in your marketplace, win you many loyal customers, and take your business to the next level.<\/span><\/p>\n<p><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2017\/05\/prepare-plan.jpg\" alt height=\"400\"><\/p>\n<p><span style=\"font-weight: 400\">So everything is wonderful&#x2026;except for one detail. You aren&#x2019;t sure how to introduce your remarkable product to the marketplace. And until you figure this out, the time you&#x2019;ve been dreaming of is quickly going to turn into a nightmare filled with wasted costs, excess stress, and indeed, more of those sleepless nights.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Well, if this sounds like you &#x2013; either today, or maybe where you&#x2019;re headed down the road &#x2013; then don&#x2019;t panic. Preparing a plan for the new product introduction is a relatively straightforward process that, while not easy, is nevertheless a worthwhile investment in your business success. We look at the first 4 steps in this process, below. I&#x2019;ll follow up with 3 additional important steps in my next post.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/#Step_1_Create_your_Mission_Statement\" >Step 1: Create your Mission Statement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/#Step_2_Analyze_your_Target_Customers\" >Step 2: Analyze your Target Customers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/#Step_3_Analyze_your_Target_Markets\" >Step 3: Analyze your Target Markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/#Step_4_Scope_out_the_Competition\" >Step 4: Scope out the Competition<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Step_1_Create_your_Mission_Statement\"><\/span><span style=\"font-weight: 400\">Step 1: Create your Mission Statement<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">What is the vision of your business? What are its objectives, goals and aspirations? And most importantly: how does your new product align with these? By crafting a focused Mission Statement and integrating it with your product, you establish the framework and foundation of your product introduction efforts. Think of this step like a compass; it won&#x2019;t tell you precisely where to go (that comes later), but it will tell you in which direction to head.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Step_2_Analyze_your_Target_Customers\"><\/span><span style=\"font-weight: 400\">Step 2: Analyze your Target Customers<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Who are your customers? What motivates them to buy your new product? What are their perceptions of value (price)? By carefully understanding your target customers, you position your product into their world &#x2013; because you can have the &#x201C;latest and greatest&#x201D; product available, but if it doesn&#x2019;t fit a customer need or solve a customer problem, it won&#x2019;t win their business.<\/span><\/p>\n<div id=\"content-cta\">\n<div id=\"content-cta-text\">Increase your business agility with Planview AdaptiveWork&#x2019;s project management software<\/div>\n<div id=\"content-cta-button\"><a href=\"https:\/\/www.clarizen.com\/resource\/product-tour\/?refer=blogpost\">Take a Product Tour<\/a><\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Step_3_Analyze_your_Target_Markets\"><\/span><span style=\"font-weight: 400\">Step 3: Analyze your Target Markets<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Categorize your customers in terms of practical and useful groups, such as by industry, geography, vertical, and so on. Appreciate the fine distinctions between how these different target markets will perceive, evaluate and demand your product. As a bonus, the insights that you glean from this step will prove invaluable as you develop your sales and marketing material, too.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Step_4_Scope_out_the_Competition\"><\/span><span style=\"font-weight: 400\">Step 4: Scope out the Competition<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Even if your product is a major advancement on what your competitors are offering, don&#x2019;t assume that you&#x2019;re going to blow them out of the water. Rather, perform a careful analysis of your competitors&#x2019; operations. Learn how they position, price and distribute their products. Also pay attention to their marketing to see how they both respond and react to market changes. Remember, while it may be tempting to conclude that some or even all of your competitors are &#x201C;flawed&#x201D; or &#x201C;incompetent&#x201D; or anything else negative, the fact remains that they are your competitors, and you have to respect them as such. Besides, you&#x2019;ll have plenty of time to prove your product&#x2019;s superiority once its strategically and effectively introduced!<\/span><\/p>\n<p><\/p>\n<div class=\"client-logo\"> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Siemens Energy\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/08\/siemens_energy-200x100.png\" alt=\"Siemens Energy\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"IIROC Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/07\/IIROC_logo-200x100.gif\" alt=\"IIROC Success\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Financial Services Institution\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/04\/FINANCIAL-SERVICES-IMG-200x100.jpg\" alt=\"Financial Services Institution\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"M Squared\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2020\/03\/m-squared-logo-200x100.jpg\" alt=\"M Squared\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Aliancys Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/12\/aoc_aliancys-logo-800x400-200x100.jpg\" alt=\"Aliancys Success\"><\/a> <a href=\"https:\/\/www.clarizen.com\/customers\/\" title=\"Bonfiglioli Success\"><img class=\"lazyload\" data-src=\"https:\/\/media.planview.com\/clarizen\/wp-content\/upload\/2019\/11\/bonfiglioli_logo-800x400-200x100.jpg\" alt=\"Bonfiglioli Success\"><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The time you&#x2019;ve been dreaming of is finally here. All of those endless hours and, alas, sleepless nights have finally paid off. At long last, you know that you have in your hands (or perhaps on your screen) a WINNING product &#x2013; one that&#x2019;s going to transform the conversation in your marketplace, win you many&#8230;<\/p>\n","protected":false},"author":205,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[35],"tags":[],"class_list":["post-17591","post","type-post","status-publish","format-standard","hentry","category-pmo-project-management-organizations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Prepare a Plan to Introduce a New Product<\/title>\n<meta name=\"description\" content=\"LinkedIn0Share0Tweet0Pin0Email0 The time you\u2019ve been dreaming of is finally here. All of those endless hours and, alas, sleepless nights have finally paid off. At long last, you know that you have in your hands (or perhaps on your screen) a WINNING product \u2013 one that\u2019s going to transform the conversation in your marketplace, win you [\u2026]\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.planview.com\/prepare-plan-introduce-new-product\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Prepare a Plan to Introduce a New Product\" \/>\n<meta property=\"og:description\" content=\"LinkedIn0Share0Tweet0Pin0Email0 The time you\u2019ve been dreaming of is finally here. All of those endless hours and, alas, sleepless nights have finally paid off. 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