ECRM Health Care EPPS to Feature Keynote on New Item Launches 8/18/2016
Suppliers face many challenges when launching a new product at retail. Indeed, despite countless hours invested to make sure the branding, positioning, and awareness plans are just right, some products simply don’t get the sell-in as expected. But there are steps they can take to boost their chances of success by following an evolutionary product development process.
During ECRM's Health Care EPPS, to be held September 11 to 14 in Oak Brook, Ill., Dave Wendland, VP of Strategic Relations for Hamacher Resource Group will take the audience through the new item launch journey, focusing on item launch strategy and the importance of factoring in a longer marketing support horizon to maximize a product’s ongoing success.
The presentation offers a perspective of innovation from three unique vantage points: new to market innovator; existing product reinvention; and expanding brand to new categories or channels. In each of the three scenarios a carefully-constructed roadmap can be the difference between success and failure. Although there are no guarantees in the new item launch journey, this session will highlight how following a disciplined process minimizes obstacles and provides a more realistic strategy for a product launch or expansion.
Aspects of HRG’s Concept-through-Commercialization framework will be shared to help participants compare their existing product development processes to a highly-structured methodology. The presentation will also help attendees appreciate that a product launch effort is evolutionary, requiring tweaks, adjustments, and validation throughout the product development phases and post launch. Participants will discover that one of the most essential keys to success is keeping in close contact with key stakeholders throughout the development process.
In addition, the session will also examine characteristics of obstacles that may get in the way to a successful product launch; explore common mistakes made in developing a product introduction; and highlight the importance of retail collaboration to ensure efficient and effective execution at shelf. With less than 10 percent of new items ever finding their way into a consumer’s shopping basket, taking the time to do the necessary upfront homework, refine the promotional strategy, and have a long-term view for the brand can be the difference makers.