Frequently Asked Product Launch Questions

The objectives of a product launch define the success criteria for the launch. Each launch objective must include a metric, a quantity, and a timeframe. 

Launch objectives fit into one of four categories: Win new customers, Keep the customers you win, Grow the customers you keep, and Steal customers from competitors. 

A customer persona is another term for a buyer persona. It is a representation of a customer, that is, someone who has already purchased your product. A customer persona contains demographic, geographic, psychographic, and behavioral information much like a buyer persona, but focuses on existing customers to better serve those customers and increase the likelihood of renewals.

A go-to-market strategy is a plan to achieve the business goals of a product or service by aligning all available internal and external resources. It is associated mostly with selling and promotion. A "route to market" is a path taken in a go to market strategy that focuses sales and marketing resources to increase efficiency.

A go-to-market strategy is also referred to as a GTM strategy. 

A product launch is a coordinated, cross-functional initiative to bring a product or major feature to market for the express purpose of building momentum toward achieving company goals. 

Before explaining a unique value proposition (UVP) we need to understand a value proposition. Simply put, a value proposition is a promise to deliver a set of benefits to a customer. A unique value proposition is a promise to deliver a set of benefits to a customer that no one else can, and that's what makes it unique. 

Uniqueness can come in many forms. It can be price, technology, features, reputation, expertise, corporate values, and breadth of offerings as examples. 

Launch readiness is the ability for every functional area of an organization to be prepared to market, sell, deliver, and support a product. It focuses on capabilities rather than deliverables.