Marketing Strategy Template For New Product Development. Step 1 “All about a product”.

New Product Marketing Strategy Template Step 1: “What problem are you solving with your product?”.

How to use marketing strategy template for a new product development?

Answer the questions from our new product marketing strategy template  below .

Write down answers to these questions about your product and product attributes:

1.1. Main goal of the product.

1.2. Main scheme of the product (text description or picture).

1.3. Product Attributes and Features

  • Write down all technical attributes (i.e. size, dimensions, weight and all applicable characterstics of your new product).
  • Write down a feature list. Will these features be well understood or do they require explanation? If yes – write down these features explanation.
1.4. Benefit List: What do the features let a customer do?
Underneath each of the features above, give a three line summary of its benefits
  • Something new?
  • Better?
  • More?
  • Faster?
  • Cheaper? Etc.

Will these benefits be accepted as such or do they need explanation? If yes – write down these benefits explanation.

What is the initial delivery schedule? When will all of these features and benefits be available? Write down the manufacturing and delivery time.

1.5. What Intellectual Property (IP)  will be unique?

  • What can you patent?
  • What is a trade secret you need to protect?
  • What will you have to license?
  • Have you checked to see if you infringe on others IP?
1.6. What is the Total Cost of Ownership of your Product?
  • Training?
  • Deployment?
  • Additional technical infrastructure (more servers…)?
  • Additional personnel infrastructure..?
1.7. Dependency Analysis: Are you dependent on something to happen before your product can sell
in volume?
1. Workflow/lifestyle changes on the part of the customer?
2. Other products required?
3. Economic conditions?
4. Behavior changes?
5. Supply change modifications?
6. Laws to change?
7. Other infrastructure/products/change in behavior
8. If so, what?
9. When will it happen?
10. What happens to your company if it doesn’t?
11. What metrics should be use to measure the change?

What you should have after completing step 1 “All about product”:

  • Product Specifications List,
  • Written Features and Benefits List,
  • Dependency Analysis Results.

With all these documents you are ready to go to Step 2 of marketing strategy template for a new product development (coming soon).