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5/1/2008 - Question of the Month, May 2008
Question
What are the three most important things any marketing manager must do in a start-up or new product launch?
Answer
1. Research, evaluate and assess the markets for the start-up or new product launch, and the opportunities in these markets.
2. Test the market response of the start-up’s product or service.
3. Correct the problems uncovered by the test, then re-test if necessary, and launch the product.
The business press is full of stories of well-funded start-ups spending lavishly on high-profile advertising campaigns who were unable to detect (or unwilling to acknowledge) the early warning signs of their failing marketing programs. They thus failed to make the necessary and sometimes radical changes that might have made the venture a success.
Source: p. 390, The Marketing Manager’s Handbook by Eric Gagnon. Published by Internet Media Corporation, 2003.
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Question of the Month, May 2008