Faculty of Management

Sciences & Liberal Arts

MASTER OF BUSINESS ADMINISTRATION

PRODUCT MANAGMENT

Submitted to: Proff. B.K Kaul

Session 2022-24

Registration No. P G D 2 0 2 2 7 5 0 8

Due date of assignment 0 5 - 0 5 - 2 0 2 3

Submitted By: - Hitesh kumar

Plan a Product Launch right from the Conceptualization
stage & use all the skills to identify markets with clearly
stated logic and business reasons. Share the entire
process to make the launch a huge success.
Gather competition data in Smart Watch segment and
accordingly strategize.

Step-by-step process to plan a successful product launch

for a Boat smartwatch:

1. Establish the Product Concept: Establishing the Product Concept

is the first stage in launching a smartwatch. The target market must
be identified, the smartwatch's primary characteristics must be
specified, and the product's USP must be established. To find out
which characteristics are most desired by customers, undertake
market research.

2. Conduct a Market Analysis: Once the product concept has been

established, a market analysis must be done to determine potential
markets for the boat smartwatch. This entails assessing the market's
size and growth, identifying the main rivals, and comprehending
market trends. To learn more about the market, we might use
techniques like Porter's Five Forces model and SWOT analysis.

3. Define Marketing plan: We can decide on the marketing plan for

the launch of the boat smartwatch based on the results of the market
analysis. This entails identifying the target market, the methods to
contact them through, and the messaging that will appeal to them.
Additionally, we can find influential people in the boating sector who
can support product promotion.

4. Develop Product Roadmap: We must create a product roadmap

that describes the crucial checkpoints and dates for the launch once
the marketing strategy is in place. The development milestones,
testing and validation plans, and production schedules are all part of
this.
5. Build Product Prototype: We can begin creating the product
prototype once we have the product roadmap in place. This entails
designing the product, creating the hardware and software
components, and putting it through usability and functionality
testing.

6. Test and Validate Product: Once the product prototype is

complete, it must be tested and validated. To find any problems or
flaws in the product, this entails doing user testing and getting input
from early users. This criticism can be used to enhance the product.

7. Plan Launch Event: We need to organize the launch event once the
product is prepared for release. This include choosing the location,
inviting influential people in the boating sector, and putting together
marketing materials like press releases, social media posts, and
adverts.

8. Launch Product: Finally, the boat smartwatch can be launched.

This entails making the product accessible for purchase through a
variety of channels, including collaborations with boat
manufacturers, internet marketplaces, and retailers selling boating
equipment. In order to market the product and increase sales, we can
also make use of social media and other digital marketing methods.

A boat smartwatch's launch process includes defining the product's

concept, conducting market research, creating a marketing strategy,
creating a prototype, testing and validating the device, organizing the
launch event, and finally launching the product. We can make sure
that your product launch is a tremendous success and boosts sales for
your business in the boating sector by following these procedures.