Marketing Plan Reluanch
Re-launch Plan for the RSP-150 Solar Power Maintainer
Re-launch Plan Goals and Milestones
Implicit in the re-launch of any existing product or service is the need to more closely define its unique value proposition (UVP), competitive and market position, and first re-assess and then strengthen its core messaging strategies. The essence of any successful product re-launch is galvanizing each of these attributes around a common strategic market plan that is centered on the customers’ unmet needs, preferences and wants (Easingwood, Harrington, 2002). The orchestration of how these activities are completed defines the extent of differentiation relative to alternative solutions and competing brands (Woods, 1984). The RSP-150 Solar Power Maintainer has many innate differentiators that capitalize on the prevailing mind-set of consumers to conserve electricity and only spend on “green” or sustainable products that make full use of recycled energy. This aspect of social responsibility could be effectively used for example with campers and holiday travellers who care deeply about the environment and conservation for example. To date the RSP-150 Solar Power Maintainer has been sold for its utilitarian value, yet it needs to be also sold on branding-based values as well. These include more focus on trust in the product as a means to make it through an emergency, and also the manufacturer being a trusted advisor for the development of products that won’t fail when they are needed most. These are the foundational elements of any successful branding strategy and they must be present in any re-launch of the RSP-150 Solar Power Maintainer if it is to succeed. In addition to all of these aspects of the re-launch there must also be real-time analytics to measure overall progress to marketing plan, program strategy and initiative projects over time and to ascertain progress during the re-launch.
The most critical success factor of any new product re-launch or re-introduction are the strategies and initiatives designed to win the trust and confidence of indirect and direct sales teams. When a product fails to launch successfully on an initial pass it is often linked to a lack of synchronized planning and execution across marketing promotions, aligned product strategies and coordinated direct and indirect selling strategies (Easingwood, Harrington, 2002).
The first goal of the re-launch is to clarify and solidify the brand messaging around sustainability and eco-friendly operation, in conjunction with ruggedized construction and reliability of the RSP-150 Solar Power Maintainer even in severe weather conditions. At the foundation of all successful branding strategies is the evoking of emotions and the creation and sustaining of trust with prospective customers (Sommers, Nemec, Harris, 1987). This goal will serve as the foundation of all others.
Second, brand and product awareness need to be increased by 40% in target segments, as is mentioned in the launch plan. To accomplish this, there needs to be more precise definition of just how the segments are. Getting beyond demographic data to the activities and interests of the potential customers is critical for the re-launch to succeed.
Defining a precise market persona is crucial for a re-launch to succeed as it focuses the overall strategy to a common objective or goal (Hauser, 2007).
The third re-launch goal is to build a foundation of trust through marketing and promotion with key customers using videos and customer testimonials. The voice of the customers are critically important for keeping re-launch marketing, promotion and sales activities on a focused, linear path to goal attainment (Sunoo, Lin, 1978). This can only happen when there is a very clear definition of who the customer is and what they value. Personas are critical for attaining this objective.
Fourth, the goal of increasing sales by 20% leading to a 25% market share increase will only happen if the first three objectives are accomplished. Sales results this significant only occur when there is a well-orchestrated strategy of performance attainment and measurement. The use of dashboards for example in managing all sales channels has continually proven to be successful (Hauser, 2007) There is also the need for using advanced marketing analytics to track performance over time (Germann, Lilien, Rangaswamy, 2013).
Complete Branding re-Launch
The re-launch needs to center on what matters most to prospective customers, and that is reliability and trust in the RSP-150 Solar Power Maintainer in addition to giving them an opportunity to contribute and give back to nature by stressing the green or eco-friendly aspects of the device. Second, the reliability and ruggedized nature of the device needs to further be underscored to show that it is trustworthy and can still function even under adverse situations. Third, the ingenuity of the design and its creative use needs to be brought out more. The suction cup bracket is a case in point as is the continuous power saving feature of the RSP-150 Solar Power Maintainer.
Re-launch to All Sales Teams
One of the most common reasons that initial product introductions fail is the lack of confidence in the product by the sales force, or lack of awareness as to what it can accomplish for customers (Easingwood, Harrington, 2002). In the re-launch of the RSP-150 Solar Power Maintainer both the direct and indirect sales teams need to be thoroughly trained on how to sell using benefits first. Extensive training materials are also necessary in addition to WebEx and other distance learning programs to get direct sales and indirect channel partners focused on how to sell more effectively.
Integrated Marketing Communications and Promotions Strategy
With the goal of increasing customer awareness by 40%, sales by 20% and attaining a market share of 25%, the extent of how well the integrated marketing communications strategy and promotions strategies are is key. Repositioning on product attributes alone will only go so far; the best product re-launch activities galvanize integrated marketing communications (IMC) and promotions strategies around a common set of benefits (Sommers, Nemec, Harris, 1987). This is a major milestone in the overall performance of the re-launch plan as it will directly contribute to sales growth.
Most important to the success of the re-launch is the continual focus on feedback and results. The first measurement device will be an analytics application that is available over the Internet using a Software-as-a-Service model, much like what Salesforce.com has with their products online. The reliance on immediate, real-time feedback is essential for any marketing strategy to stay focused and on the path to completion (Hauser, 2007).
The second measurement device will be the 360-degree feedback from the direct and indirect channel partners as to how the program is meeting their needs or not. Using advanced analytics to measure these aspects of performance is also essential for any IMC and promotional strategy to continually attain its objectives over time (Germann, Lilien, Rangaswamy, 2013).
Third, there will be a continual focus on customer satisfaction metrics of performance in the form of surveys done of those who have purchased the RSP-150 Solar Power Maintainer.
Deviation Correction Strategy for the Re-Launch
Correcting for any of the shortfalls from the product line sales and growth figures will lead to any or all of these deviation correction strategies being relied on to ensure the goals of the re-launch plan are achieved.
First, there will be weekly sales updates across all direct and indirect channels to ensure sales trends are spotted quickly and responded to. In the event sales are up the practices that led to the sales increase will be replicated across other channels, and if they are down, corrective action will be taken.
Second, weekly and monthly profits of the RSP-150 Solar Power Maintainer will be calculated and used as the basis of profitability analysis over time. Often the use of analytics in conjunction with pricing can deliver exceptional insights into how a given product is performing (Sunoo, Lin, 1978).
Third, the impact of each marketing incentive, strategy and promotion will be evaluated and ranked in real-time reporting back to marketing and senior management as to the Return on Investment (ROI) of each program. The latest marketing automation applications can rank programs by their relative level of profitability performance, and this is critical in a re-launch scenario (Germann, Lilien, Rangaswamy, 2013).
Easingwood, C., & Harrington, S. (2002). Launching and re-launching high technology products. Technovation, 22(11), 657-666.
Germann, F., Lilien, G.L., & Rangaswamy, a. (2013). Performance implications of deploying marketing analytics. International Journal of Research in Marketing, 30(2), 114.
Hauser, W.J. (2007). Marketing analytics: The evolution of marketing research in the twenty-first century. Direct Marketing, 1(1), 38-54.
Sommers, W.P., Nemec, J., & Harris, J.M. (1987). Repositioning with technology: Making it work. The Journal of Business Strategy, 7(3), 16-16.
Sunoo, D., & Lin, L.Y.S. (1978). Sales effects of promotion and advertising. Journal of Advertising Research, 18(5), 37-37.
Woods, R.I. (1984). A differentiation strategy at work. Review of Business, 6(1), 22-22.
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