If your business is counting on new product launches to meet growth, profit and innovation goals, work with a multifunctional team to answer those questions. Here’s how:
First, test the fit of the new product with your current segmentation. How closely do the new product’s benefits align with each segment’s Critical Purchase Criteria (CPCs)? Refresh the persona for the target segment and ensure that it is well communicated. It is the “Wanted Poster” for the launch. Incorporate segment-specific targeting into your CRM system so that Sales can find the exact targets for the launch.
Second, develop a Competitive Assessment for the target segment, comparing the new product’s performance to the current product and available alternatives. Test the scoring with the customers in the target segment to ensure it is specific to their perceptions.