A Product Launch Strategy is a plan that outlines how a new product will be introduced to the market. It includes identifying the target audience, setting goals, and determining the best marketing channels to reach potential customers. This strategy helps ensure that the product meets market needs and stands out from competitors. Key components of a successful launch strategy include market research, pricing, promotional activities, and distribution methods. By carefully planning these elements, businesses can create excitement around the product, drive initial sales, and establish a strong presence in the market.