PRODUCT LAUNCH

Product is a good, commodity or sometimes a service which is produced by company or an individual and can be sold in a marketplace through a contract between a buyer and a seller. Products have a certain usage associated with them which can result in completing a need or a want.

A product launch is when a company decides to launch a new product in the market. Product launch can be of an existing product which is already in the market or it can be a completely new innovative product which the company has made. Product launch involves various steps which involves understanding customer needs, product design, testing of the product, marketing & advertising and ensuring that the product reaches out to all its audience. A successful product launch provides a sales momentum for the company.