Product Launch
At the final stage, companies are now prepared to launch the new product onto the market. For a successful launch, a company must ensure that the product, marketing, sales, and support teams are well-placed and should keep good track of its performance. Companies must frequently monitor and evaluate the success of the product launch and make modifications if it fails to accomplish the expected goals. For instance, a software provider might monitor sales, client feedback, and user satisfaction polls to assess the effectiveness of a recently introduced productivity tool.