In our world of monthly or quarterly targets, where we are we marked in every week’s review meeting, it gets very enchanting to see the outcome without noticing the process and inputs.
Sometimes good processes can also lead to bad outcomes because of the randomness in the market that you are targeting . For example you may have identified the single target market , you would have planned your marketing activities for the long haul, you would gone about systematically educating your market, you would have identified the positioning by doing the correct segmentation, but suddenly an unexpected event occurs and throws your complete plan out of gear. The COVID-19 pandemic threw so many launches out of gear. No process can predict this kind of a situation. But because of the right process, while we couldn’t go ahead with our original OEM we now have an even more responsive OEM to launch our offerings.
On the other hand I have had situations in my life, where I was scared, because we had short circuited the process , because of lack of time, but still got amazing results. That was also a result of randomness or luck where a certain trigger of a government deadline moved all our inventory in no time. We made a lot of profit also.
Sometimes you need to tweak processes to make them more responsive for the increased pace of product launches. However I am of the belief that we need to map the process for a product launch. It could be directly from the books by Philip Kotler or it could be built on your experience but having a process ensures that you don’t miss any step.
Tell me in the comments below, what is your view.
Till next time then.