Mgmt12

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DateSales Force and New Product Launch
The buy-in from the sales team is critical to the success of any new product. The perspective of sale person is different from other departments, and they have to go and sell the products to the channel partners, distributors and end consumers. They want to know the factors that would make a new product a success and how they can device selling strategies.
The four major success factors that contribute to the success of a new product are- 1) product characteristics such as price, innovativeness, features, and benefits. 2) firm strategy characteristics that provide a firm with competitive advantage . 3) process characteristics pertaining to product development and execution . 4) marketplace characteristics like market potential competitive intensity (Panwar and Bapat). All of these need to be briefed to the sales force.
The internal success factors that are likely to make a new product successful like- how it fits with the existing brand image, customer experience, the viewpoint of the distribution channels and product quality &expertise (Simon), need to be detailed in front of the sales force. Goal setting and specific targets that are set for the new product should be presented to the sales team, in this forecasting the size of the opportunity and kind of demand they can expect would be helpful.
To make the sales team ready for new product messaging a comprehensive training p…