The success of a new product launch, particularly in Technology, can have a huge impact on both sales and in winning and maintaining brand loyalty. A recent study by Mckinsey (2017), found that more than 25 percent of total revenue and profits, across industries, comes from the launch of new products.
As Samsung battle for a greater share of the highly competitive smartphone market, we today see the highly anticipated reveal of the new Galaxy Note 9. For any product release, let alone one of this magnitude, it is crucial to track performance and market appetite in the opening weeks to determine if the product is landing and if not, where action is required.
To provide Samsung the greatest visibility into the success of the Note 9 launch, Brand View has implemented new ways of working to ensure the product is mapped and trackable within 24 hours post launch. While some competitive intelligence tools can take weeks to ingest and map new products, we see it is paramount that our strategic partners have the necessary insight immediately after major launches.
Retailer adoption – Understand if all major UK retailers are listing the product. If not, is there a reason a for the delay?
Stocking issues – If retailers are low/out of stock this can inform tactical stock and logistic decisions
Representation – Track if the product is properly represented, including correct imagery, product descriptions and specifications
Competitor reaction – Quickly see if competitors are launching new promotions to combat your launch
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