Product Launch in a Business Cooperation
You have set up a Business Cooperation with another Company and you are ready to launch the first product together with your Partner. It is time to celebrate or are there some aspects to check before the launch and celebration?
As a matter of fact there are a few things to understand as well as have agreed with your Partner.
If the launch is for one specific customer case only and in accordance with the teaming agreement, you can start celebrate.
If the launch is for a Portfolio offered to many customers you need to have Strategy in place for the Product Life Cycle Management and Product Supply and Support. Thus how you together handle Marketing, Sales and End of Life. In addition you and your Partner must also be able to deliver the product to your customers as well as to support them.
Let us look at some of the aspects to consider when launching a product in a Business Cooperation.
Launching a Product in a Business Cooperation
- Common Ground in Product Life Cycle Management
For a smooth cooperation the first thing you need to settle is the match between your Product Life Cycle Management and the one of your Partner. You do this when exploring candidates for your cooperation and you select those that match your criteria according to the selected Business Relationship. Trying to adjust the mismatch between your Product Life Cycle Management models at the point of a Product Launch is a costly and time-consuming activity and not recommended.
For more details on how to explore candidates for a Business Cooperation, follow this link Explore Candidates!
You and your Partner has a common ground in Product Life Cycle Management. Great! This it will allow you to jointly plan the launch of the product through the steps of Ready for Marketing, Ready for Sales, Ready for Delivery and End of Life (Support and Product).
- Common Ground in Supply and Support Flow
Secondly You and your Partner must have an agreed base for the Supply and Support Flows. It is important that it is clear who is doing what and under what Terms and Conditions.
When Marketing the new Product you need to as well as describing the purpose and benefits of the product for your customers also have done the home work with regards to the new product place in the portfolio. Thus you must position the product properly in the portfolio. You and your Partner must also agree upon who is saying what and how. Will you have any joint statements and how should they look like?
The Ready for Sales step is very crucial for your business. At this point you will get into customer commitments and if you fail to honor these commitments it will have critical impact in your relations with your customers and also your business. Consequently you need to be in full agreement with your Partner that you will have a high quality product and you can deliver and support it. In addition you need to have Business Collateral’s required for the Business Flow. Don’t forget to secure the Trade Compliance needed!
- End of Life
Even if it is some time ahead at a Product Launch to talk about End of Life you and Your Partner must also have a common view. It is important for your customers. Thus You and your Partner must have agreed upon the time when the Product will be discontinued including the pace and terms for End of Life.
The Launch of a Product in a Business Cooperation requires a common understanding of the product management basics and a good cooperation between You and your Partner. You secure the Product Launch when you Prepare and Explore the Candidates for your Cooperation. You work out the details together with your Partner at the Set up of the Relationship. Thus you can add the Product as a step in reaching your Business Objectives as well as minimizing the risks and costs.
Now it is time to celebrate!
Some more advice (Links)
- The Ultimate Product Launch Checklist [Infographic]
- Credit: Inc.com
- Prepare Your Company for a Business Cooperation
- Why Explore Candidate Companies
Learn more about Business Cooperation!
Image Credit: Pixabay & Freepik