The first step to any successful product launch actually precedes the launch itself and comprises the product creation and market research phases. Once complete, test the product design and functionality amongst focus groups, family and friends. Learn from precedents and try to capture unique observations made about the product, even if they are radically different from your own perception of it. Research findings should also be used to shape product pricing, packaging and distribution.

Next, choose a date for the launch. Leave sufficient time for the development of marketing materials and check for seasonality or other factors that might strategically influence sales. There is no room for error with regard to timing as a delay in product availability will cause loss of credibility and do you more damage than any amount of marketing can do you good.

With your dates ready, focus on designing promotional materials that will aid retailers in selling your products. Clearly define your core target group so that marketing messages can be directed specifically at them. Choose a product name that is relevant, memorable and catchy. Create a unique selling proposition that sets you apart from the competition and delivers value to your consumers. It would help if your product addressed a latent demand within your target group. Other aspects of branding that need to be developed include a website, snapshot flyers, detailed brochures, seminar and trade show participation, etc.

Simultaneously develop a robust distribution network. Make your product available through multiple channels. For instance, if you are launching an eBook, sell through your website, affiliate marketers, internet superstores like Amazon, etc.

With this the basic launch infrastructure is set up. However, your work has only just begun and the real challenge is to drive traffic to your points of sale. Garner mileage for the launch by making your presence felt all across the web. Issue a press release to online directories and blogs. Use articles and forum marketing to improve page and search engine rankings. Start a viral buzz around your product with the help of social media platforms like Facebook, Orkut, Twitter, Digg, etc. Buy targeted traffic through pay-per-click and email marketing.

What goes wrong in a product launch?

Product launches are arguably the most exciting part of setting up shop. However, they can also be disasters when some basic prerequisites aren't taken care of. In fact more than half of all product launches fail. Here's a quick look at some common pitfalls that you need to be wary of when launching your product.

Inadequate planning: Any launch requires an in depth knowledge of the target market. A clear definition of the core target audience is also required for focused marketing.

Shortsighted marketing plans: The launch takes place over a brief period of time and sets the tone for the subsequent sales of the product. However many companies and entrepreneurs make the mistake of going gung ho on the launch and paying less attention to what comes after – the actual sales!

In the end, post launch persistence is as important for product success as is launch timing and planning. So keep at it consistently and the results are sure to follow.