To grow over time time, companies need to be innovative. However, this does not necessarily mean totally new products. Thus, our focus here is to review product versus feature launches.
For further insights, access these articles:
- A New Product Management Infographic
- New Tool in the Fake Product Wars
- Best and Worst Products of the 2010s
Understanding the Differences of Product Versus Feature Launches
Yes, firms may succeed without major innovations. Which typically entail first-to-market items. Time, costs, and risks may be inhibitors.
To learn more, let us turn to an interesting discussion on launches from ProductPlan:
“A product introduction and a feature introduction involve two different events. Each has unique goals and requires a different execution strategy for success. Below, we discuss the differences between new launches and feature launches. We also suggest best practices and resources and help you launch your new product or feature.”
“A product launch refers to all of the coordinated steps in a company’s plan to deliver a product to the market. It involves far more than releasing the product to customers. For example, a product launch includes pre-launch market research and messaging to the company’s targeted users. It also involves developing plans for user onboarding, and preparing the support team to help users after the product goes live.”
“A feature launch refers to the coordinated steps in a company’s plan to make a new feature available in its product. Like launching a new product, it requires a lot of market research, internal coordination across the firm, and communication with the public before the new feature generally becomes available in the product.”
The chart highlights the differences. And the full article provides a lot of guidance.