During the fourth stage of the product development process, you tested and validated your product or service. If you received a positive result, it’s time to move forward to the last step of the process: the official product launch.
Product Launch: The Final Step in the Product Development Process
Congratulations! You’ve made it to the product launch. During this stage, you’ll unveil your product to the market and do your best to sell. Also known as commercialization, you’ll begin full-scale operations, production, sales and marketing.
What to Expect During the Product Launch Stage
The goal of the product launch stage is to bring your product into the world and start seeing the fruits of your labor. You’ll have various product development tasks to conduct during this phase including:
- Implementation of the operations plan: During this phase, you’ll implement the operations and production plan you created during the third stage of the process and perfected in the fourth stage. You’ll start producing your product at full-scale.
- Implementation of the marketing plan: You’ll start marketing your product at full force using the marketing plan you perfected in stage four.
- Post-launch review: Several months after the initial launch, you’ll conduct a post-launch review. This review will look at your financials, quality of the product and your customers’ response to the product. It will clearly explain the health of your product.
One of the most important tasks is to capture your lessons learned during this process. You’ll need to use these lessons to improve the development process for your next product.
The RFA and Matrix product development process is a derivative of the Stage Gate® process.
It’s Time to Sell, Sell, Sell
Your product has hit the market. Now, your responsibility is to sell your product to help you grow your business. Although this is the final stage in the product development process, you should always do what you can to improve your product over time.
Are you ready to bring another product to market? Are you struggling with the tasks you need to complete during the product launch phase? RFA and Matrix offer product development support. To learn more about our services, give us a call at 952-843-2700 or send us a message.
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