Hi all!,
Can somebody pls tell that what are the preparatory steps that should ideally be taken prior to launching a product/service in the market.
If airtel or any other professional company decides on launching a new product, wht do they do ;like, market research, process development, recruitment and risk management etc. Can somebody pls tell what all steps and in what sequence is every backend activity carried out prior to the launch of any new product/service?
what are the basic planning, policies etc required . pls give an elaborate answer?
thanx,
karuna
22nd July 2007
It is difficult to answer unless one knows the company and its earlier products, its strengths and market brand etc. However in general before you launch a product, you must have a developed product. Prior to developing a product, you should do market research; thereafter technology selection but no acquisition as yet. you may get technology through outright purchase, through joint production/co production route, form a JV where in technology is given, outright purchase of technology or get technology for production on licence where you pay a royalty to technology provider or pay a lump sum amount + licence fee etc. After technology selection, the capacity planning is to be done and the probable location/selection of production site. Again a rating system is to be applied. Once land and technology along with rough capacity is estimated, you may commission a professional agency for making a preliminary project report. Project reports can be made in house also.This project report will deal with the types of equipments needed, buildings, warehouses, markets, and manpower etc. The sources of acquisition, cost and time etc will have to be shown in detail. THe project report will have to deal with the requirements of capital both the initial investments and running or maintenance costs, the methodology for raising capital and the return on capital etc. The viability of project then can only be assessed.

If the project is viable than you undertake it in a sequential manner. Softwares are available for project planning. For smaller projects one can use the PERT/CPM technique. A detailed project report may also include such details as the production process beside the details of plant/ machines etc. The production process can be known only after knowing the technology.

The marketing methodology, manpower training etc may or may not be included in detailed project report and can be stated in a separate document.

The competitive strategy will depend on the company's strengths etc.

P K Misra
5th June 2008 From Korea, Samsung
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