PRODUCT DEFINITiON & LAUNCH
WHY IS IT IMPORTANT ?
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Product Definition: At best, missing the market expectations can cost millions of dollars in product redesign. At worst, it can kill the project.
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Product Launch: For start-ups, it is THE key. It will enable market recognition, commitments from customers and investors appeal.
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Aviation is experiencing a massive shake-up with hundreds of new air vehicles or aircraft projects referenced today at various levels of maturity. Some of these projects have already a huge head start with hundreds of orders or commitments and significant funding.
Often new entrants wait until their technical definition is fully mature before thinking about customers and investors. Of course, a solid technical base and definition must first be established, but waiting until the product is fully defined represents a huge risk of missing the market opportunity.
Timing is everything.
HOW CAN I MOVE FORWARD ?
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With a first solid product definition, new ventures should very quickly seek for market momentum by engaging customers and stakeholders. Not only will it establish the product and the brand in the market landscape, but it will also attract interest from investors, industrial partners and talents.
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So, how to catch up quickly and attract customers and investors?
It takes an in-depth experience in launching commercial aircraft programs to achieve rapidly and effectively what would normally take years to build for a new entrant.
Investing in this experience is a must. Some decide to hire marketing personnel from large OEMs, most will secure advisory services from industry veterans in aircraft marketing.