In the consumer packaged good industry only around 80% of the product launches fail? Why does it happen even after the companies spend so much money?
It takes the efforts of months to develop a product, starting from a small idea to tons of research to manufacturing and packaging it. All other parts of this procedure are equally important but there’s a special requirement to focus on the packaging part of the product. This is because this step is gonna help the product to get a good sale. It requires special attention and artwork management software services to create good packaging artwork for the product regardless of the prices and type. There are multiple reasons for a product launch to fail badly even after putting so much effort and looking for every bad possibility. These are: –
Vagueness Among Teams
On every project, there are various kinds of teams that are included like marketing, sales, developing, designing, and much more. Each of them holds different responsibilities but the goal is the same to launch a product with success. But not having clarity over things can ruin the chances for that as it is very important to progress in the same direction with the same speed. For example, when the designing team is done with the initial idea, the legal department needs to check it for safety.
With so many departments working together. Sometimes due to issues occurring in one department, performance can impact the whole project. That’s why it is really important to keep every field on track, which is usually done by the managers. This is because no department should be lacking behind their responsibilities and work which can make the whole progress get stuck at one position.
Lack Of Communication
To discuss and communicate over the discussions, and performance of projects usually all the communication occurs through emails, texts, and calls. But it won’t help you in tracking down all the important information, there’s a high chance of missing proper instructions here. Like while sending mails, there are already 100 mails sent to people and it becomes confusing to properly react to the situation. Transparency is really important while working on a project together.
In manual proofing, there’s a high probability of missing things, happening to rework, missing deadlines, changes in timelines, etc. The data stored these days is in the form of spreadsheets and files which aren’t very compatible and have the chance of losing the data. Or while sharing with people the process can be time taking and some mistakes can happen in between.
In product development, managing assets is a crucial step but it is also very challenging especially for managing charges. One reason for that is the teams wanted to use the pictures that have been already in use for that specific brand. These kinds of resources need to be stored in a well-organized pattern so that you won’t have to spend time retrieving it in case it gets lost.
Problems With Data
In the artwork management process, data is an important thing that can cause a big risk to the company if they mess with it. As if a company is starting with not enough data and information, they have a high risk of struggling with the continuous revisions and approval rejections. The data is needed to create a compliant label. This kind of data can be tamed easily by clear workflows. If a company is not having enough assets it can face issues like the problem with accuracy, wrong files, and using them by mistake.
Lack Of Collaborations
Every good management artwork project works with a group of different departments like marketing, art agency, regulation team, and much more. It is really important for the performance that all these teams can easily interact with each other. So that there are no voids in between the members which can lead to delays and issues later like missing the deadline or redoing the whole project.
Failure To Comply
Some industries like the pharmaceutical sector have different kinds of challenges to face from any other industry. So it becomes quite important to encompass national and local sets of rules and regulations so that fine risks can be avoided in these situations.
Mistakes that should be avoided while launching a new product
- Poor Planning
- Delivering not ready product in terms of marketing and managing
- Creating a big hype and delivering a product that’s nothing compared to that
- A product should be made for a purpose, if it can’t solve any problem, there’s no reason
- Not being able to convey the messages to the customers
- Unable to leverage those distribution market
- Hiding or lying about the product quality
- Realizing a product with no use of unsatisfactory use
- Not being able to target the right audience.
Wrapping It Up!
A product needs to stand out in different ways. Every general store has thousands of options and customers give a few second glances at any product and decide whether to buy it. There are certain points that a company needs to consider and manage properly for the products to make a stand for itself.