Post Launch Check
Launching a new product will always be tough exercise, even for storied companies and seasoned managers. There are many cases where a company launch a new product and then put all their resources on sales and marketing efforts, such as advertising and sales calls, and decided to skip post launch check. Maybe cost savings was the reason, perhaps it was bias in planning and execution, or it could be overconfidence. The company only discovered months—and millions of dollars—later that the product has failed in the market.
Those companies have neglected the importance of monitoring the market and product performance. In the past, monitoring might be difficult for products with large and distributed markets, but not anymore.
Today, you can measure market responses faster and easier than it was before—and make decisive actions accordingly.