4 of 6 |  Six Key Factors for a Successful Launch

A cross-functional team established at the outset helps assure all aspects of the effort are accounted for in the end. An aligned team throughout a defined process ensures fewer missteps and rework or missed opportunity altogether. Marketing as part of the team is critical because it represents the needs and wants of the customer whose insight is instrumental for a successful endeavor from concept to market.

Further Thoughts:

Marketing’s homework. In most references, you’ll find low product success rates are attributed to marketing-associated activities: The marketing study was either overlooked or done poorly, market test (field trials) were done poorly, the product launch activities were poor, business analysis was done poorly, et al. The role of marketing in new product development (NPD) is vital. It is to understand and represent CUSTOMER needs and wants throughout the entire product lifecycle. However, in our B2B experience, we’ve seen far too many important decisions made with logical inputs. The “why” someone buys a product or service is rarely as straightforward or rational as it may initially appear. The right homework that emphasizes the complex underlying human motivations from the get-go can help increase the odds of success—or avoid the odds of failure.

Better teamwork. A majority of companies utilize a formal new product development process (Stage-Gate® for example). But the best processes, people and ideas can run amok without the right teamwork. According to Patrick Lencioni, “Teamwork is as elusive as it has ever been within most organizations. The fact remains that teams, because they are made up of imperfect human beings, are inherently dysfunctional.” Becoming a more effective team means overcoming five dysfunctions: Absence of Trust, Fear of Conflict, Lack of Commitment, Avoidance of Accountability, Inattention to Results. For more on teamwork, read: The Five Dysfunctions of a Team, Patrick Lencioni.

An MBA in NPD? Food for thought: There are few courses in undergraduate and graduate programs on product development as a discrete function or discipline. Many employees will be charged with discovering, developing and launching new products, programs, product lines, therapies and services with little training on product development fundamentals and with limited benchmarking outside the company. Hmm? Perhaps it’s time for more.