Business Studies: Action Plan for New Product Launch

Vocabulary practice flashcards detailing the 10 sequential steps required to draw up an action plan for testing and launching a new product.

Action Plan Objective (Product Launch)

To launch a newly developed product added to a product catalogue and find out if the current customer base will like and buy it.

Action Plan: Step 1

Suggest a suitable design for the new product.

Action Plan: Step 2

Choose an advertising agency to prepare three sets of designs.

Action Plan: Step 3

Engage graphic designers to do the work.

Action Plan: Step 4

Print copies of the designs.

Action Plan: Step 5

Finalise the research questionnaire, target market for surveys, and the team.

Action Plan: Step 6

Assign staff to the survey.

Action Plan: Step 7

Allocate dates and times.

Action Plan: Step 8

Conduct the survey.

Action Plan: Step 9

Collect questionnaires and process the information.

Action Plan: Step 10

Present the findings at the management level, together with recommendations.