Launching multiple products in a region can be complex due to variations in language, culture, maturity, and buyer needs across countries. On top of this, tailoring the launch to each market increases the complexity and need for resources. In addition, regional marketers are often faced with three critical challenges: lack of visibility and information about global launches, lack of a process for prioritizing launches in the region, and lack of regional resources and capabilities. To tackle these challenges, corporate launch teams, regional teams, and in-market teams need to work together to align on the best way to go to market in the region to maximize impact and ROI.
A four-step process can help regional teams take charge of their launches and make decisions about prioritization. The process includes:
- Gaining clarity about global launches. In step one, local marketers should obtain the global launch calendar and tiering, understand target market segments and buyers, and determine the level of corporate support.
- Prioritizing launches by market. In step two, the market impact of each launch is assessed by country and prioritized. The level of need the new offerings will address, the competitive position of each launch, and launch tiers are determined.
- Determining the ability to execute. In step three, the level of capability and competency of the local team to execute the launch is assessed.
- Creating regional launch plans. Finally, in step four, the gaps are addressed, and the launch decision is communicated throughout the region and to corporate teams.
By following this four-step process, regional marketing teams can effectively prioritize multiple launches in regions with diverse countries and maximize market impact and ROI. Forrester clients can find more specific guidance in our new report, A Four-Step Approach To Optimizing Offering Launches In Regions.
How Forrester Can Help
Forrester can help you optimize your product launches in regions. Please schedule an inquiry or advisory session with me or one of my colleagues to see how to use this research to identify the best-fit solutions for your needs. I’ll walk you through our process steps and help tailor the research to your needs to help you handle multiple product launches in regions with diverse markets.