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Trilogy Tidings
January 2016
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in this issue
     Collecting intel before you launch a new product is a terribly good idea. You know, 'getting your ducks in a row' or 'looking before you leap'. Start this New Year by reminding yourself to do it. Have a happy!

Regards,
Joe

3 Simple Steps to Assure a Great New-Product Launch               
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     So, it's time to roll out another new product. It may be a minor tweak or a major advance. The development team says it's nearly ready; just gotta clear a few regulatory hurdles, then we're off and running.
3 Simple Steps
 
     However, maybe - just this once - it's time to check a few boxes first. Specifically, I'm thinkin' 3 boxes. It might be wise to check in with your extended internal product team, your best customers and some key prospects, and perhaps an outside expert or two. Why bother? Perhaps because checking with these folks before you launch might just yield a better, more successful product - or, if you see this new product as a major advance and great commercial opportunity, you just might avoid an embarrassing crash-landing.
 
     Spend a few moments reviewing my identification of "3 Simple Steps to Assure a Great New-Product Launch" in either a dynamic Prezi format or a static PDF presentation.
 
     Think of this little presentation as a reminder of the three critical resources at your disposal to help optimize commercial success and avoid disasters. Share it with your team. Maybe post it in your coffee room!
Don't Ignore Conferences and Trade Shows                
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     Nobody would argue against hearing customer views when formulating strategy or researching a new-product idea. Now that online research, surveys, and social-media monitoring have become useful market research tools, it's easy to forget one tool which has stood the test of time: industry conferences and trade shows.
Trade Show
 
     Let's review their benefits:
  • That's where many of your customers (both real and imagined) congregate. And they appear in large numbers over just a few days!
  • They are in an open frame of mind. They're thinking ahead. They're not otherwise occupied (except for smartphones, of course).
  • Owing to the time compression, hearing customer views from many can be very efficient and even cost-effective.
 
     The research M.O. that I'm most familiar with is to engage a vendor at a separate booth to collect 5-minute written surveys from passers-by. That might be OK, but that vendor is probably hosting several other surveys, so screening and confidentiality can become important issues. Of course, you can also host a similar survey right within your own exhibit booth. Again, screening and confidentiality are potential limitations, not to mention the distraction from your staff's selling efforts.
 
     Here are a few alternative M.O.s to consider:
  • Recruit and host one or more invitation-only private focus groups at or near the conference location. Both the cost and calendar time of this approach will be far less than scheduling multiple groups throughout one or more continents. You can take a full hour or more with each group with careful scheduling.
  • Recruit, schedule and conduct individual private conversations of 15-30 minute duration at or very near the conference location. These can be very effective for the assessment of new-product concepts. Scheduling can be tricky.
  • Conduct brief, unscheduled verbal exchanges (say 2-5 minutes each) with targeted customers or KOLs as they stroll the exhibit floor or attend relevant presentations. This requires experienced, well-informed, alert operatives.
 
     So there you go. Don't ignore research opportunities that are afforded by attendance at targeted conventions and trade shows.
Some Prior Suggestions on Research and Concept Testing               
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     Read a bit more on this month's topics by revisiting four of my prior newsletters in 2015, to wit:
 
     Oh, and thanks for your attention and interest!
 
What does Trilogy do? 
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     Trilogy Associates facilitates business growth and renewal through commercialization of new products, providing the following services:
  • Development and critique of business strategies and plans
  • Characterization of market drivers and adoption dynamics
  • Identification and evaluation of fitting technologies
  • Surveillance of competitors and emerging threats
  • Market-testing of development-stage product concepts
  • Assessment of clinical value and comparative economics
  • Support for partnering, acquisition and divestiture initiatives
  • Quick-turnaround M&A due diligence
  • Business and technical writing/publishing

     Inquiries to establish whether and how we might support your business initiatives are always welcome.  Contact us.

Resources from our Archives 
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     Check out our Reading Room to view my published articles, presentations and white papers on a variety of topics.
  
     And, you can examine an archive of my prior newsletters (since February 2007).
Contact Information
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Joseph J. Kalinowski, Principal
919.533.6285
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