Global companies today face the problem of initiating a global product launch, the situation of which has been further
complicated by the changing global structure. A central characteristic of this is varied cultures, and, more importantly the
multicultural situation of nations today. Companies are under more and more pressure to speed up the commercialization of new products in order to increase product
lifetime and cost-effective value, at the same time keeping up with the changing trends of economies.
Transware, a website offering solutions to international product launch challenges, isolates some
of the major problems.
The major challenge in an international product launch is to ensure you deliver current and accurate
product marketing materials to distribution channels, retailers and sales-teams securely and cost effectively.
Other challenges in an international product launch include:
- Addressing costs associated with a decentralized, ‘in-country’ model
- Supporting public relations across multiple markets
- Ensuring international product requirements for Engineering, QA, Marketing and Sales are met
- Planning for multi-language press tours, seminars, product presentations and training sessions
- Ensuring consistent testing and qualification
(Transwareplc, 2006)
Other challenges include; meeting
growth targets include changes in consumers’ demographics, increased competition in mature markets, and increased spending
on services, and the rise of private labels and the low success rate of new brands.
To ensure a successful international product launch, several things must be kept in mind. Content
development, pre & post production, recruitment advertising, site selection, online registration & tracking, sales
force involvement opportunities, communication technologies, multi-site event management, audience feedback, and enduring
materials all contribute towards a successful international product launch. (Eventcominternational, 2006)
The Oxford University Press defines global marketing as “marketing on a worldwide scale reconciling or taking
commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.”
(Oxford
University Press’ Glossary of Marketing Terms).
Marketing constitutes the core of an international product launch. The strategy involved can make or break a product.
The perfect international product launch involves managing the development and support of complex
products and services throughout the entire lifecycle from product design to product build to post-sale service. It includes
the integration of traditional new product introduction (product innovation, design and collaboration) with sourcing and procurement,
supply chain planning and execution, and service – the entire product lifecycle. Research from the IBM Global CEO Study
2006 and the IBM Institute for Business Value 2006 Value Chain Study studies and places the research findings into context,
based on the challenges and leading management practices associated with bringing new products and services to market successfully
and profitably.
The importance of being first to
market is very crucial in an international product launch. Besides the instinctive idea that it is best to be first, other
measurable benefits are possible for those that get to the market sooner with innovative products and services.
As product lifecycles continue to decrease, compressing development cycles and accelerating new
product introductions are becoming critical. Product complexity is also increasing substantially, making development and product
introduction even more challenging.
References:
Transware, Global Product Launch
Available at http://www.transwareplc.com/solutions/
global_product_launch.html
Eventcom
International, Product Launch Solutions
Available at http://eventcominternational.com/Services/ ProductLaunchSolutions.aspx
IBM, " Expanding the Innovation Horizon: The Global CEO Study 2006". IBM Corporation. March 2006
Available at http://www.ibm.com/bcs/ceostudy
