Inevitably a business traineeship will introduce you to marketing products and services through product launches.
Product launches are events or activities that announce the arrival of a new product or service on the market. The product launch is probably the most important time in a product’s life cycle, particularly in terms of promotion. It provides a great opportunity to showcase a product or service, and generally raise the profile of the company.
You should consider a product launch for:
The introduction of an entirely new product/service
A new release of an existing product
New features of an existing product/service
The introduction of an existing product/service to a new market
A product launch is likely to include different types of promotional activities including advertising, media announcements, and client and employee functions. It may require personnel training, documentation, additional stock, special venues, and a considerable organisational effort, so you need to plan carefully to ensure that everything goes smoothly.
To ensure that you get maximum exposure for your launch, you need to combine it with other aspects of your promotional campaign, for example: media announcements, advertising, fliers, etc.
A product launch can be anything from a large media and stakeholder event, to a small advertising run.
For example, if you are launching a new vehicle, the product launch is likely to involve an event to which key dealers and media are invited, where information about the vehicle is provided and the vehicle unveiled. This could be supported by media announcements directed at car magazines and the ‘Drive’ sections of newspapers, as well as by extensive television and magazine advertising.
Alternatively, the launch of a new hairdressing salon may consist of a flier drop in the salon’s neighbourhood that announces the opening, and offers a discount, gift or glass of champagne to customers who visit during the following month.
Undertaking a traineeship in business studies will give you the skills to develop your own product launches.