Launch Benchmarking
Comparing the product launch against industry standards or previous launches to gauge success and identify areas for improvement.
Implications
The process of comparing the performance of a new product, service, or campaign against predefined standards or against similar launches, often used to assess success, identify best practices, and guide future launches by providing insights into what works well and what could be improved.
Example
Example: A consumer electronics company conducts launch benchmarking for its new smartphone by comparing sales figures, customer feedback, and market penetration against previous product launches and industry benchmarks, gaining insights to improve future product launches.
Related Terms
Different from general benchmarking, which might compare overall business performance against competitors, launch benchmarking specifically focuses on the outcomes and effectiveness of product or service launches, providing targeted insights for refining launch strategies.
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